The Humble Libertarian

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Thursday, April 5, 2012

Gingrich think tank files for bankruptcy

It's been a neutering week for the Newt. Ron Paul is beating him in recent primaries and now his signature think tank is bankrupt, after having collected $37 million in historian consultation fees. Since when does a health insurance company need a historian? Newt was really nothing more than an unregistered lobbyist selling his infamous access under the guise of a history consult.
Republican presidential candidate Newt Gingrich’s health-care think tank on Wednesday filed for Chapter 7 bankruptcy, with up to $10 million in debt and as little as $50,000 in assets. The Atlanta Business Chronicle first reported on Thursday that The Gingrich Group LLC, doing business as the Center for Health Transformation, filed for bankruptcy in the U.S. Bankruptcy Court, Northern District of Georgia. The bankruptcy filing (PDF) indicates that the organization has between 50 and 99 creditors, assets between $50,000 to $100,000 and liabilities of $1 million to $10 million. The Washington Post reported last year that the Center for Health Transformation had collected more than $37 million from health care insurers and other industry grounds since opening in 2003.   The think tank offered health-care companies “access to Newt Gingrich” and “direct Newt interaction.” Firms like AstraZeneca, Blue Cross Blue Shield and Novo Nordisk were included among some of the biggest funders.
Read the rest here 
The Raw Story