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Romney Profited From Mortgage Foreclosures in Florida

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Gingrich has said he was a consultant for Freddie Mac, the federally backed mortgage company that played a significant role in the housing crisis. Romney said Gingrich should return the more than $1.6 million he made from the company. While romney criticized gingrich, Romney also profited from investments in Freddie Mac.

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Romney and his supporters are hammering Gingrich for the work he did for Freddie Mac, arguing that the former House speaker was effectively lobbying for the federally backed mortgage. companies.

With his once-secure grip on the GOP presidential nomination loosening, Mitt Romney has been hitting Newt Gingrich hard this week in Florida. The former Massachusetts governor’s plan: Make the mortgage meltdown-and Gingrich’s paid work for the mortgage insurer freddie mac-a huge issue in this state, one of the worst-hit by foreclosures.

It seems that the Massachusetts millionaire, according to his tax returns, had profited from investments, in particular a Goldman fund that was chock full of mortgage backed securities. By extension, Gingrich claimed, Florida homeowners whose defaulted mortgages were part of that Goldman fund had been had been victims of foreclosure.

ORMOND BEACH, Fla., – Less than 24 hours after his disappointing showing in the south carolina primary, Mitt Romney took his campaign fight to Florida, linking the mortgage foreclosure crisis here -.

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ThinkProgress reported Wednesday that former Massachusetts gov. mitt romney (R) has profited from thousands of Florida foreclosures through a Goldman Sachs investment fund.

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