Thursday, November 10, 2011

Newts and Hip Waders: Made for Each Other

This certainly would be advice worth seven guineas, or thereabouts , er, I mean $300,000 from Freddie Mac....
"My advice as an historian when they walked in and said we are now making loans to people that have no credit history and have no record of paying back anything but that’s what the government wants us to do. I said at the time, this is a bubble. This is insane. This is impossible."
Fascinating stuff. If you ignore his public silence on the bubble, even in the face of very public attacks on people who were explicitly warning of a housing bubble, and ignore the zombie lie that the housing bubble was rooted in banks giving too many loans to poor people, you could almost believe that he actually is the smartest man in the GOP.

What did Newt do to warn the public of this absolute insanity?
Gingrich talked and wrote about what he saw as the benefits of the Freddie Mac business model.
Sheer genius!


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