Gingrich made $1.6-1.8 million in consulting for Freddie Mac

(By Ed Morrissey, Hot Air) - Is a big consulting payday, or several of them, a big deal in a Republican presidential race? It depends on the client, and it depends on the work. Bloomberg reported overnight that Newt Gingrich scored big over the course of eight years in a series of consulting contracts for Freddie Mac, earning perhaps as much as $1.8 million:

Newt Gingrich made between $1.6 million and $1.8 million in consulting fees from two contracts with mortgage company Freddie Mac, according to two people familiar with the arrangement.

The total amount is significantly larger than the $300,000 payment from Freddie Mac that Gingrich was asked about during a Republican presidential debate on Nov. 9 sponsored by CNBC, and more than was disclosed in the middle of congressional investigations into the housing industry collapse.

Gingrich’s business relationship with Freddie Mac spanned a period of eight years. When asked at the debate what he did to earn a $300,000 payment in 2006, the former speaker said he “offered them advice on precisely what they didn’t do,” and warned the company that its lending practices were “insane.” Former Freddie Mac executives who worked with Gingrich dispute that account.

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