New Freddie Mac contract prohibits 'lobbying activities'
January 25th, 2012
12:04 AM ET
8 years ago

New Freddie Mac contract prohibits 'lobbying activities'

(CNN) - Newt Gingrich was specifically prevented from lobbying Congress on behalf of the mortgage giant Freddie Mac in 1999 and the early 2000s, according to a contract released Tuesday by the firm he founded.

The contract, which covered services rendered by the Gingrich Group from May 1, 1999 through December 31, 2000, states specifically: "Nothing herein is or shall be construed as an agreement to provide lobbying services of any kind or engage in lobbying activities."

The document continues, "Newt Gingrich and Group do not provide lobbying services of any kind and do not engage in lobbying activities. Neither The Gingrich Group nor Newt Gingrich will provide lobbying services of any kind nor participate in lobbying activities of Freddie Mac's behalf."

The release of the contract comes one day after the Gingrich Group released a separate contract with Freddie Mac, covering work beginning in 2006. That document did not contain the explicit no-lobbying provisions, stating only that Gingrich's firm was contracted to "provide consulting and related services" to Freddie Mac.

The 1999-2000 document offered more specifics about Gingrich's services. Among the firm's duties were serving as "advisor to Freddie Mac in areas of strategic planning and public policy," "meeting with major stakeholders of Freddie Mac to discuss business and public policy issues," and engaging "in discussions with Mitchell Delk and other senior officers of Freddie Mac."

Mitchell Delk was Freddie Mac's senior vice president for government relations, according to the contract.

Gingrich's firm provided consulting services to Freddie Mac for roughly six years in total, approximately half of which are covered by the two released contracts. On Monday, the Gingrich Group said they couldn't locate the contracts from other years, but told CNN on Tuesday evening the latest release was found in the company's warehouse.

Both the contract released Monday and the document released Tuesday show the Gingrich Group earned $25,000 per month for its services to Freddie Mac.

The role Gingrich played at Freddie Mac has become a sticking point for the candidate on the campaign trail. Rival GOP hopefuls are reissuing their claims the former House speaker lobbied for Freddie Mac as the campaign moves to Florida, site of the next primary showdown. Florida was hit particularly hard by the national housing crisis, which many Republicans pin on the failure of the mortgage giants Freddie Mac and Fannie Mae.

Filed under: 2012 • Newt Gingrich
soundoff (86 Responses)
  1. Ted van Tol

    Lady's and genlemen, please rise!
    Let us welcome the New(t) President of the USA and his THIRD LADY!

    Sorry, I have to pea in my pants!

    January 25, 2012 10:42 am at 10:42 am |
  2. Scott, Philadelphia, PA

    If it walks like a duck and quacks like a duck, its a duck, even if the duck is wearing a sign saying I'm not a duck.

    January 25, 2012 10:43 am at 10:43 am |
  3. unretired05

    As soon as they get the other contracts written they'll be released, fresh off the press like these.

    January 25, 2012 10:48 am at 10:48 am |
  4. GI Joe

    "didn't agree to any lobbying"

    That was just a freebie thrown in to get his buddies in the republican party to do what his corporate owners wanted.

    January 25, 2012 10:50 am at 10:50 am |
  5. Keane

    Newt was a paid-participant to the colossal damage inflicted on the U.S. economy by mortgage cos. Fannie Mae & Freddie Mac. And he's keeping his $1.6 Million fee and running for President of the U.S.?

    January 25, 2012 10:51 am at 10:51 am |
  6. Paul

    So were are supposed to assume that someone hired Newt for his financial expertise? Well that did them allot of good... The wording is so vague in the contract that consulting could most likely be lobbying but called consulting since lobbying was not allowed. Lawyers – gotta love em

    January 25, 2012 10:55 am at 10:55 am |
  7. jpmichigan

    Mr. Romney has the same problem President Obama has, fuzzy math on job creations. Jobs created by companies invested in by Bain, occurred after Romney left Bain, but he still as an investor raked in the millions. Other investor , who also make money, created the majority of the jobs. Romney takes all the credit!!!!! Time for him and Obama tell it like it really is, no more fabrications.. Like Romney . Gingrich used capitalism to make a living!

    January 25, 2012 11:05 am at 11:05 am |
  8. Buster Bloodvessel

    But he was lobbying for them and everyone knew it at the time, and they know it today! This is your idea of a president? Shucking and jiving and making excuses for his past? Toss in the towel, GOP.

    January 25, 2012 11:19 am at 11:19 am |
  9. scott

    So just because the contract says he won't do it automatically means he didn't do it?....Don't believe that one.

    January 25, 2012 11:23 am at 11:23 am |
  10. Steve

    American Public: Whats that over there?

    Fannie/Freddie: Oh that? Pay no attention to the man behind the curtain....

    January 25, 2012 11:37 am at 11:37 am |
  11. happynurse

    what a low life....this is the guy who represents everything that is wrong in washington, and peole support him??? such hypocrsiy what a joke

    January 25, 2012 12:27 pm at 12:27 pm |
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