Former House Speaker Newt Gingrich defends his recent comments on Mitt Romney
Jan 10, 2012|
Former House Speaker Newt Gingrich joined Howie up in New Hampshire to talk about his campaign and how they are doing and also Howie grilled the Newt on recent comments he made against Mitt Romney and how he just seems to be attacking Mitt Romney's campaign. Is Newt Gingrich just in the race to go after Mitt Romeny?
Transcript - will not be 100% accurate
To joining us now on the -- line is -- Former speaker of the house Newt Gingrich -- Thanks -- be aware of us. Do good you -- you would probably show for twenty years right a -- that you minority leader right I. I can't believe what I'm here and -- out of your mouth today I mean you're you -- you sound like -- from the Barack Obama reelection that can't commit. Why would you say that. I mean who hired you why are you saying that it's you know there's a -- you can make too much profit I mean. Elect George brought you what you said -- you said if you make a 180 million off a thirty million dollar investment that's too much. And up at -- -- well first. If you take out a 180 million dollars. From a comedy put thirty million men and the company then goes bankrupt. This I. Mean why why should wash your hands full of guys. Get underneath mine are presently behind the bankrupt company -- I look at what. So it. They sold the company to two other people they they took that I think some of these companies that took public I mean you have to do due diligence when when -- an IPO comes up but it two ways is sold on my Wall Street correct. Are. We ought to read the lost in general -- as you sit your outlook okay. -- I don't accept this idea. Isn't that a Romney runs saying look at my business career to keep part of my who I am -- -- my question -- president okay. You look at his business currently -- -- There are some places here where you have to ask what about accused judgment in his values in his character. And listen that this is an example I mean. I think it's a legitimate question that I we are well. A few months ago you were angry when people got the FEC report they said the -- at a 500000 dollar line of credit at Tiffany's. -- -- -- what businesses that day as that of anybody else's way you know where I spend my money I mean -- -- -- how we might ask another mention a word about where Mitt Romney spends his money. I mentioned a word about what kind house she has a -- -- anything about Mitt Romney's personal spending. I answer that question. Does does somebody who invest in the company. Now he investment company the company goes belly up he takes a loss and the workers take a loss that's one thing. I think that's purpose you know that's free enterprise. But I think you're I think it's legitimate to ask the question. If you if you take a 180 million dollars company for which you put in thirty and then. Shortly thereafter the company goes broke. Why is an illegitimate and ask the question what happened. Why why is it. Why is that he did he did he bought the company for thirty million -- -- and he didn't put a gun to the owner of anybody's head to buy that company. It was he sold the company he didn't put an all the gun to the to the older that the head of the all of the people who bought the company I mean this isn't this what. Capitalism is all about how does note. Well I think the question of cash yourself visit I used you know. If you're comfortable -- somebody whose idea is the guys on the top all the cash and the guys that bottom though the unemployment. You think -- you reasonable model is we're not a -- who all would -- -- much systems in general. Is this the behavior of a potential first United States is this something that does this make you comfortable and a matter of character and values. With the potential president. What would you would jewelry that capitalism is creative destruction. It's hideous and I would say it most of them -- creative destruction -- because somebody else certainly better idea not because you'll walk off with all the money. Are you trying to stay married do you think every deal ever done as sacrosanct and -- forward now let me ask any questions. Any vehicles because to ask a question. No wait look at critical look at other I have a congressman sitting across from me who was it was it is it. He went after hedge fund managers and insider trading on Wall Street. Insider trading is wrong there there are you making an allegation that Mitt Romney was involved -- insider trading what is. And I just say anything I mention that insider trading. I said when you have a company yes some obligation to try to ensure that the company survives. And it and that's one thing to say. I did everything packets -- -- to survive this really -- this failed. There's another thing to say the strikes -- the money left and left behind debt and the debt crush the company. New to me yesterday you'll you'll you know in Iowa you've been very angry about and -- super pac. In the ads they've been running you say that there are running also it's about to record. I heard on the -- showed today you've got this or your code or your rot your pack your super pac has got the YouTube up. And and they said that they won this award this little lady who says that Mitt has fifteen homes. That's -- -- you. Are not accurate at that that's Jewish state yeah. Reticent publicly they should take that area that's in that -- it. If you. I don't think I don't think this is going over very well I mean maybe maybe I'm wrong maybe were the Republicans I talked to today and if -- New Hampshire they era. Think they can't believe I -- the Club for Growth said that your comments are discussed. -- -- My question is not my comment first ever pretty straightforward. It. The Club for Growth want to trim the kind of capitalism. In which a handful of guys take all the cash. And everybody else -- on employment slip. That's their prerogative I think that's I don't think that's exactly capitalism of the most Americans want. I don't think that's what we enterprises about I don't think that's what I wrote about this now with Friedman wrote about. And I think it's a question of how you -- -- Some -- Sam -- creates a brand new better product called Wal-Mart he gets to be a billionaire I do not think the phrase summer jobs in this sort of rested. -- let's go let's -- -- brought up wall that while the -- so was Walton. What does -- is starts Wal-Mart and that takes a big bite out of Kmart correct. Every fourth and before that Kmart took a big bite out of Sears and Roebuck. And before the Sears -- took a big bite out of my mom and pop people the world around a hundred years ago right and that's chat. Capitalism is all about -- but I -- measured was their jobs and its people gain jobs. Bachelorette but Obama but that's for example while. The person who was the very first cash register. Manager Awad at the very first Wal-Mart number one. Which -- and millionaire he didn't read it and see walk take the money and we. He didn't see Wal-Mart go broke fewer -- in millionaire is all designed this system where here's follows we will buy stock. And they will part of the rise and as the company -- bigger so that -- Same thing happen with jobs and apple. So I'm I am all for capitalism I'm off for want to create. Destruction I'm essentials here. But I do think there is a question. If some people go and create huge leverage borrowed enormous amount of money paid them so -- ABC and walk off leaving behind all the -- Is that it has a Barack Obama said very much the same thing rush played a quote today on the on his show wait wait your quote on fox and then of Barack Obama back to back in the Indy it's somewhat like the at the same basically the same quote. You're a little more area right than Barack. Okay so Obama says there's 11 o'clock and actually it's 11 o'clock I shouldn't say it's actually 11 o'clock. It's been quite the question. Sort of objective factual is whether it's 11 o'clock or not I mean this is apparent that this is a philosophy you're you're. You're all now know enough -- get -- -- that I don't think having some legal and violent enormous amount of debt and the company. They can actually does that mean I don't think that's philosophy I think that's a question -- whether or not they had any responsibility. To the company they left the. Won't you want to make decision about whether -- -- A -- big you call them corporate raider today at a corporate raider is -- -- -- not him again I think amusing when your your verbs looted. Who should make our decision. I I think the question for I think first of -- -- question -- the market should the second question is whether -- -- the bankruptcy -- -- like kind of behavior. Mean if you if you go bankrupt a year or two later because this -- took all the money. Under the current laws. Here's all you -- what -- noticeable no he -- did he sell the company I mean that's what they did they they. They bought the company they own the company they gave themselves -- -- beat do you wanna get I I don't were calling whoever introducing legislation to what. To I increased. The the power of the I'm not -- a summer. -- can -- -- I'm -- trying to now I'm asking that question as a matter of judgment in a potential president. Is this behavior comparable. It is this is this kind of attitude you want a president -- -- it's you know you're jumping to a conclusion. That every single thing every single person ever done is free enterprise is automatically right -- percent. Even if he legally has the right to do what was at the right thing to do. People who will I mean OK let's say you you're building pastry. It. Okay well it lets you do it on building pastry -- you got a mortgage at 5%. And you negotiated. Down to lower mortgage rate of 3%. You went to the way that the way the interest rates are. Would would you feel compelled to. The the rant on your tenants because you were paying last with would you be making would you be looting. Via the tenants of -- of your building. It would that's opposite -- what was Scott and White House at the opposite I don't understand it. Would it what you you've made your investment in -- gonna it is and and now you have a chance to make a profit. Right who lost his signature aren't gonna make that that you have a right to make this. I -- but I didn't say it legally technically have the right what I said was I don't think it's the right thing to do. I I think that is if you're asking me is that statistic gaps it if I could trigger some clever way to sell something. I keep all the money and leave the depth behind. That might be a clever -- them. But I amateurs the right thing to do. And the question I have is that run -- go run for president says. Look at my twenties -- -- business record okay we look at his wife by your record we ask. We ads are staples among the things. We ask a question. And -- In this particular case was that the right thing to do and people would come -- blue. As it's like you're not there's any question any businessman is not challenging Internet seriously. I spoke to Rick Santorum earlier today he just a stop by the where is the that this the studio here in Manchester he's he's he knows you. Twenty plus years he -- you -- you know he he was it it what are your members for four years he said he never heard you say. Anything like what you've been saying that -- never once. You there. Was anyway. This I mean this is that this is it -- isn't this a departure from from your past. They're -- ready to raise the court now it Percival. I think we we often had problems in American capitalism too often tried to figure a way to solve those problems. Our new nobody basis that capitalism is automatically -- so it's perfect system. Do you yourself pointed out we have for example insider trading laws of such things we do on a regular basis to try to figure out how to make sure things are right. And I've sent a fair amount of the last couple years about the degree -- -- something's wrong with always 2008 in 2009 and 2010 or handle. And I think that it's it's very big problem. And when the M with the government stepped in did they make the problem better or worse. Well because because of the -- the government step in and it worse. So what -- -- and you know you have government grant bankruptcy laws -- government. Yeah it's all right so correct way to handle AIG was actually to use an instrument of government called a bankruptcy law. Not not to have the government take over AIG. Yes go to -- okay. But that's still problems so you know the argument is and whether it's governor -- -- -- the argument is. Do you want micromanagement. From politicians and bureaucrats in Washington. Or you wanna set up the sort of rules are appropriate and I'm not saying we need change in rules. What I -- -- And I'm fascinated. That raging question. If somebody comes in and invest should they have a concern for the company at large. And not just for their own profits that it's. Somehow seems totally inappropriate question. You know you know what I heard you say when I heard you say this today about the thirty million in the 180 million I thought I thought to myself well. What about Sheldon Sheldon Adelson the guy who -- your super -- the five million dollars community is -- has. It has has he ever quote it is to get quote unquote corporate raider is he had quote unquote -- We got an easy guy is actually built a series of companies each of which is created thousands of jobs. The impact as a serious obligation there's employs. And he wants he wants undertook a -- strike or late or because she wanted to take care of his employees aware that the unions were letting it sit Imus that's fighter out. Well so I'm sure the -- and say I'm sure the union -- Sheldon Adelson is a much worst night in Mitt Romney for the busted him he he actually got some molest some legislation passed in the state and Nevada that that that it's that that. -- that some of the power of the union's right. Right because -- does she want that this adaptor or use -- say that. And -- he actually wanted to keep its employees on health insurance even if you had a temporary lay them off what they were rebuilding as a child. So that's that you would actually trying to look out for his employees and my players. -- healthy capitalism ideally. Involves. Great entrepreneur orders who also care about the people who work everyday to make them well. It doesn't just involve a narrow focus on whether or not you can take the money get that'll. Do you think Mitt doesn't care about to -- I mean again you know I'm sure they admit I don't know. That's why I think you have to do a press conference and explain it. Well you know what what about the -- what about the money you took from Freddie Mac I mean I always you know what was that that we're that -- corporate. Or company into battle for. First of all I didn't take the money and -- a perfect example. The company the company took over six years. All about look at lessons thousand dollars a year for the companies becoming an option -- -- my share was about 35000. Dollars -- year. Okay now for that the only the only time I've ever talked to the congress it was in the near the near term support in July of 2008. Our that I said do not give them any money. So he can't he can't make any case. They don't bid these big executives don't say that that's what she told. Well that that's a public matter public record so the congress Republicans in congress. Don't bail them out and don't give them any money. What about system match just -- a matter of public record early and articulate and now here. But deep deep do you see do you see why it why people are kind of surprised -- mean you've done you've done you've done very well in Washington you're you're you wore a multi millionaire. Correct. Oh and I'm not anything like Mitt Romney. In our ability -- summer I'm not against success or are perfectly happy the successful. Are perfectly happy that Bill Gates says success but I but I am I am asking questions. About specific companies and specific decisions. And you and your -- say of this district gets -- -- okay. Our biggest -- -- look at my record look at my record except if you look at his record says oh my gosh you're -- capital. My problem. -- -- is that it is that you you sound. That today on fox and and now with me -- you sound like somebody from Occupy Wall Street. There are so isles aside so it's not cheap Foreign. Ministry -- movement has the same. Feeling about bigness. Let's -- that the difference is that Tea Party movement wants is American solutions and abilities that. Let's admit no excuse me have to give the names please I gotta I gotta get a break -- I appreciate you coming on -- taken a taken a growing like this I want to one more question. I know you said that the worst mistake you ever made in the recent years was a sitting with Nancy Pelosi. On the the seat on the sofa outside the capitol. You did you get paid for that or -- -- a couple of hours -- not not accompany either. All right and I did careful illusionist is -- trying to say. We conservatives care about the environment there. Okay so no nobody no no money changed hands on them that's how -- just to confirm that it was just pure -- Pure foolishness okay no I appreciative BM be all right now we're all friends and so we couldn't read it this case. Okay thank you thank you that I -- 18774694322. Mile per hour.