Romney Buries Gingrich Freddie Attack: 'Have You Checked Your Investments?'

So maybe Governor Romney in the spirit of openness should tell us how much money he's made off of how many households that have been foreclosed by his investments? And let's be clear about that.

(APPLAUSE)

ROMNEY: First of all, my investments are not made by me. My investments for the last 10 years have been in a blind trust, managed by a trustee. Secondly, the investments that they've made, we've learned about this as we made our financial disclosure, have been in mutual funds and bonds. I don't own stock in either Fannie Mae or Freddie Mac. There are bonds that the investor has held through mutual funds. And Mr. Speaker, I know that sounds like an enormous revelation, but have you checked your own investments? You also have investments through mutual funds that also invest in Fannie Mae and Freddie Mac.

(APPLAUSE)

ROMNEY: Let me -- let me -- I've got more time. Let me -- let me -- let me just -- let me just continue. There's a big difference between buying like U.S. savings bonds and getting a return. That's a -- that's not taking money out of the United States, that's loaning money to the United States. And what my trustee did, is he loaned money to Fannie Mae and Freddie Mac and -- and they got paid interest of course, just like if you buy U.S. savings bonds. But what the speaker did, was to work as a spokesman to promote Fannie Mae and Freddie Mac. To protect them from those people that wanted to take them down.

He got paid $1.6 million to do that. He said his first contract indicated there would be no lobbying. But his second contract didn't have that prescription taken out of it. And so you have to ask yourself why is that? What he was doing was clearly promoting Fannie Mae and Freddie Mac, in this case Freddie Mac to the tune of $1.6 million. That is one of the reasons we're in the trouble we're in.

BLITZER: Go ahead.

GINGRICH: Well, first of all, you'll notice that the governor wasn't aware of the ad he was running. He's not aware of the investments that were being made in his name.

ROMNEY: Of course, I can't it's a blind trust.

(CROSSTALK)

GINGRICH: ...compare my investments with his is like comparing a tiny mouse with a giant elephant.