A healthcare think tank founded by Newt Gingrich has filed for bankruptcy, piling further humiliation on the Republican presidential hopeful following the virtual collapse of his campaign.
In the interim between resigning as Speaker of the House in 1998 and announcing his bid for the presidency last year, Mr Gingrich set up a number of businesses, including the Gingrich Group, a healthcare advisory company.
Records show that that the business, which was at the heart of a collection of Gingrich-run firms referred to as ‘Newt, Inc.’, filed for bankruptcy in Atlanta on Wednesday. The company, also known as the Centre for Health Transformation, owed debts of between $1 million and $10 million to a group of fewer than 100 creditors…
Stefan Passantino, a lawyer for Mr Gingrich’s campaign, said the financial collapse did not happen while the candidate was in charge and would not harm his presidential ambitions.
“If anything, it shows the importance of his leadership while he was there,” he told the Atlanta Business Chronicle. Give me a break!
In reality, Mr Gingrich’s campaign has all but surrendered with the former Speaker rarely venturing far beyond the television studios and the Washington DC area.
His phony fronts for lobbying are as worthless as the lies he told of advising Congress and corporations about history. Gingrich’s understanding of history, his “dedication” to providing improvements in American healthcare are constructs designed to look programmatic – and serve only one purpose: to enrich the corporations that profit from providing healthcare. Regardless of the quality and true value of that product.