Ron Paul attacks Gingrich: "Serial hypocrisy"

Newt Gingrich on Wednesday received further validation of his status as an emerging frontrunner in the Republican presidential campaign: He's the subject of rival candidate Ron Paul's latest attack ad.

Paul, in earlier ads has focused his fire on the fellow Texan in the race, Gov. Rick Perry, in national television and radio ads in the past, but his campaign's latest video volley is aimed at his former congressional colleague.

"Newt Gingrich: Serial Hypocrisy" is a two-and-a-half minute web advertisement that uses the former House speaker's own words to raise questions about Gingrich's constancy to conservative principles (watch above at left). One featured clip is from an advertisement that Gingrich cut with another former House speaker, Democrat Nancy Pelosi, to urge action on global warming. Gingrich has since called the ad "probably the dumbest single thing I've done in recent years."

Paul's new ad also condemns Gingrich on his relationship with mortgage finance giant Freddie Mac. Gingrich reportedly collected more than $1 million in fees from the government-controlled firm.

In a press release announcing the "the video that Newt doesn't want you to see," Paul's campaign chairman, Jesse Benton, called it an effort "to debunk the myth" that Gingrich is a conservative. "Ron Paul is the only Republican presidential candidate with that record," Benton said.

CORRECTION: This post originally misstated Gingrich's relationship with Freddie Mac and its sister agency, Fannie Mae. Gingrich was an advisor to Freddie Mac only, not the larger Fannie Mae.