The architect of the the Conservative Opportunity Society.
Republicans had an alternative explanation for the financial meltdown:
It goes like this:
The downturn was caused by Fannie Mae and Freddy Mac and evil Democrats like Chris Dodd and Barney Frank.
Fannie Mae and Freddy Mac did have an impact on the meltdown but the two institutions didn't cause it according to Wikipedia.
The one name the GOP doesn't mention is Newt Gingrich who worked as a lobbyist for Freddy Mac in 1999 and his firm, the Gingrich group, was paid $30K per month while Gingrich was a lobbyist.
But the shyster Gingrich says he wasn't really a lobbyist, he was a historian. His consulting firm was paid between $1.6 million and $1.8 million over an eight year period to advise the mortgage giant according to Bloomberg.
Gingrich was a big advocate for home ownership. In fact, many pundits claim the Bush Ownership Society was borrowed from Newt Gingrich.
A Bloomberg Businessweek article stated:
Not everyone is convinced that Bush's paeans to property are an answer to future economic challenges. . . To critics, the Ownership Society is a reworked version of Newt Gingrich's 1994 manifesto -- the Conservative Opportunity Society on Botox.
sources:
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