Ted Cruz Didn’t Disclose Loan From Goldman Sachs for His First Senate Campaign

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Krugminator2

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Ted Cruz Didn’t Disclose Loan From Goldman Sachs for His First Senate Campaign

http://www.nytimes.com/2016/01/14/u...-street-loan-senate-bid-2012.html?smid=tw-bna



As Ted Cruz tells it, the story of how he financed his upstart campaign for the United States Senate four years ago is an endearing example of loyalty and shared sacrifice between a married couple.“Sweetheart, I’d like us to liquidate our entire net worth, liquid net worth, and put it into the campaign,” he says he told his wife, Heidi, who readily agreed.

But the couple’s decision to pump more than $1 million into Mr. Cruz’s successful Tea Party-darling Senate bid in Texas was made easier by a large loan from Goldman Sachs, where Mrs. Cruz works. That loan was not disclosed in campaign finance reports.

Those reports show that in the critical weeks before the May 2012 Republican primary, Mr. Cruz — currently a leading contender for his party’s presidential nomination — put “personal funds” totaling $960,000 into his Senate campaign. Two months later, shortly before a scheduled runoff election, he added more, bringing the total to $1.2 million — “which is all we had saved,” as Mr. Cruz described it in an interview with The New York Times several years ago.
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This is not a big deal but it has the words Goldman Sachs in it so I am sure there will be some interest.
 
It may not be a big deal in terms of violating campaign finance law, but it's a huge deal in relation to Cruz's motives and who's really backing this "conservative."

Nice scoop.
 
What a weasel. They clearly hid the loan because he shall now be henceforth known as Senator Goldman Sachs. Time to Audit the Ted.
 
r3volution 3.0 said:
It may not be a big deal in terms of violating campaign finance law, but it's a huge deal in relation to Cruz's motives and who's really backing this "conservative."

Nice scoop.
Click to expand...

He had a seven figure income and the assets to qualify for a loan like this. He would have qualified anywhere he went. It makes his story about putting all of his savings into the campaign slightly less than truthful. But he was still personally on the hook to pay this back, albeit it is easier to pay back when it is part of a political campaign where you have donors.

But if it gets people worked up I am all for it.
 
timosman said:
I am curious what happened to the loan. Was there some consulting gig structured to dispose of it?
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This is a guess. But what likely happened is he took out a loan from Goldman Sachs then lent his campaign that money. That gave his campaign access to cash to fund itself that it didn't immediately have. As people donated to his campaign, he used those individual donations to pay off the money he lent to the campaign which he then used to pay down the Goldman Sachs loan.
 
Meme reminded me of this thread, so here ya go-
12507238_10153191284422331_5992068263584551772_n.jpg
 
A "Tea-Party darling" who takes out a loan from Goldman-Sachs to fund his campaign.
That's oxymoronic.
 
His wife works for Goldman Sachs. Believe it or not, I liked Cruz at one point, when he called McConnell a liar (which he is). But Cruz is a zero in my book now. I personally don't like the way he renounced his Canadian citizenship just weeks before entering the race. Wife has a cushy job at Goldman. I think he is pretty much full of shit, as all the other candidates except Rand Paul .... and I'll get my head bitten off... Donald Trump is full of shit too, but at least he doesn't have his ownership parked by the banksters or the drug companies.
 
Cruz is an ass but I am curious what else is the New York Times sitting on and not disclosing? Is this an attempt to keep Trump as the frontrunner?
 
timosman said:
Cruz is an ass but I am curious what else is the New York Times sitting on and not disclosing? Is this an attempt to keep Trump as the frontrunner?
Click to expand...

Probably, I'm still somewhat hesitant to go 100% nuclear on Cruz simply because I know that Trump will probably be there to reap the benefits.
 
"What a weasel. They clearly hid the loan because he shall now be henceforth known as Senator Goldman Sachs. Time to Audit the Ted."

Exactly! This guys is establishment all the way. He went to establishment schools, his wife works for an establishment company which he got a campaign loan from. Why would he be any different? Because he talks a good game on the campaign trail. Yeah, and I can too if I just scream "deport, nuke and ban" at the top of my lungs. He's a two-face shyster and as I said before any Paul supporter voting him deserves a kick-me sign branded on them.
 
r3volution 3.0 said:
It may not be a big deal in terms of violating campaign finance law, but it's a huge deal in relation to Cruz's motives and who's really backing this "conservative."

Nice scoop.
Click to expand...

Perception matters. I say this will hurt Cruz in Iowa. Expect him to drop like Carson did after he got attacked.

Rand could be the big benefactor to a Cruz drop.
 
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