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

New York Times ^ | January 13, 2016 | Mike McIntire

[Alter Kaker]

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.

[Jewbacca]

“hese “loans” will come due and some banks may be willing to accept payment in the form of a future taxpayer bailout. This stinks!”

Except they were always secured by stock Cruz had saved up.

And except Cruz paid them back.

The quality of the sweatshop posters from India is declining.

[Jewbacca]

How’s the weather in India? How much do you get paid?

Is it by post? Or by hour?

Pretty good way to learn English, I would think.

[WENDLE]

Cruz is going down faster than Ben Carson. The respected Gravis poll shows Trump 32% and Cruz had plummeted to 28$ .WAY BEHIND after one week IN IOWA . People are concerned about Cruz eligibility and he needs to get that resolved. Cruz doesn’t have an issue with Trump on the constitution. He has an issue with the constitution.

[WENDLE]

I think is was intentional.

[Trumpinator]

Seems like NEW YORK values to me!

Cruz graduated from Harvard and Princeton - he did not go to some small Southern Evangelical college.

Stop with this corn pone New York values BS. Some parts of New York are more conservative than the South with less divorce and less out of wedlock births and these days less crime and have been voting Republican longer than some in the South have.

[Boardwalk]

Heidi also attended harvard business school, and then went to work for Goldman Sachs, which has its headquarters in New York City!

[samtheman]

And what is Trump going to do, make America like NYC?

No. He is going to make America Great Again, notwithstanding the tweebs who scoff at him for saying that.

[Jewbacca]

Welcome to FreeRepublic.

Again, do you all get paid in dollars or rupees for the posts?

Or are you part of the newer gas lighting operation from South Africa? What’s the currency there?

[WENDLE]

“Welcome to FreeRepublic.”
Im not sure you mean that but ,if so, thank you.

“Again, do you all get paid in dollars or rupees for the posts?”

First, where do you get “again” . Second , I have no clue what you are talking about.

“Or are you part of the newer gas lighting operation from South Africa? What’s the currency there?”

What? Are you ok ? You might wish to talk to a doctor.

[dragnet2]

Boy, you run for the tall grass really fast.

Cheers.

[montag813]

Oh, no, you don’t understand. Levin has worked for the conservative cause and for the Constitution since his days with the Reagan administration, but because he won’t fall on his knees in front of the lying liberal reality-show celebrity, he’s a piece of crap.

I have been a loyal listener to Mark for years. But have found he is easily duped. First by Orrin Hatch, and later by Marco Rubio, with disastrous results.

[deport]

The above image of a document filed by Cruz to the Senate contains the loan. However,
the charge is it wasn't filed with the FEC as require of candidates. Two different
entities but was supposedly corrected according to info listed below.

snip

Neither loan appears in reports the Ted Cruz for Senate Committee filed with the
Federal Election Commission, in which candidates are required to disclose the source
of money they borrow to finance their campaigns. Other campaigns have been investigated
and fined for failing to make such disclosures, which are intended to inform voters and
prevent candidates from receiving special treatment from lenders. There is no evidence that
the Cruzes got a break on their loans.
......
A spokeswoman for Mr. Cruz's presidential campaign, Catherine Frazier, acknowledged that
the loan from Goldman Sachs, drawn against the value of the Cruzes’ brokerage account, was
a source of money for the Senate race.......

The failure to report the Goldman Sachs loan, for as much as $500,000, was "inadvertent,"
she said, adding that the campaign would file corrected reports as necessary. Ms. Frazier
said there had been no attempt to hide anything.

Ted Cruz Didn't Report Goldman Sachs Loan in a Senate Race

[Texicanus]

Boy, you run for the tall grass really fast.

I guess there's a little politician in all of us.

Cheers.

[Boardwalk]

Ignore them. They have no problem with Cruz being a noob senator!

[FreeReign]

Update: Cruz Did In Fact Disclose the Goldman Sachs Loan

[FreeReign]

It also contradicts his narrative about selling his assets and all his savings and being funded by regular people. Cruz didn't do any such thing.

Cite.

[FreeReign]

Found this...

Asked about the report last night, Cruz said the loans were disclosed for many years. He said that he and his wife "put our liquid net worth into" the Senate campaign "through a combination of savings, liquidating our savings accounts, a combination of selling assets and then we had a brokerage account that has a standard margin loan like any brokerage account has, and we borrowed against the stocks and assets that we had under ordinary terms."

[Boardwalk]

How convenient!

[deport]

The one in question is his FEC filing showing the loan not the senate disclosure form.

[eartick]

So that explains it!

Yeah I am immune to loud mouth liars that promise me the world and only can deliver dirt on conservatives while supporting Hillary and stealing old peoples land for his bankrupt casinos.

Yes, thank goodness for that squirrel bite........