By Geneva Sands - 11/17/11 05:35 PM EST
Gingrich has strongly denied lobbying on behalf of Freddie Mac, despite reports that his consulting firm earned between $1.6 million and $1.8 million in consulting fees from the mortgage giant. Gingrich says he merely offered “strategic advice” to the public corporation which he has strongly criticized and which many conservatives blame
for fueling the 2007 mortgage crisis.
The reported amount is significantly higher than the payment of $300,000 that Gingrich has acknowledged in the past.
Bachmann said she wants to place Fannie Mae and Freddie Mac into receivership and move to shut them down.
— Justin Sink contributed to this story.