Gingrich defends government-sponsored enterprises

AP News
Posted: Dec 15, 2011 9:56 PM
Gingrich defends government-sponsored enterprises

Former House Speaker Newt Gingrich describes some government-sponsored enterprises as valuable entities that can help people.

Gingrich on Thursday night defended his time working with Freddie Mac, the quasi-government home mortgage agency. Gingrich made more than $1.6 million working with it.

Gingrich says at the latest GOP debate that some public-private partnerships _ institutions like credit unions and electricity cooperatives _ are important and do a good job.

His Republican rivals criticized him. Texas Rep. Ron Paul says those are the "worst kind" of economic entity because they mix free enterprise with the government.

Minnesota Rep. Michele Bachmann says Freddie Mac and a similar entity, Fannie Mae, "need to go away."