Jeez, I don’t know. For people who clamor all over Cruz for his one loan with Goldman-Sachs, claiming he is now OWNED by them, even though he put up his OWN assets to finance the loan and PAID IT ALL BACK....you tell me how Trump is owned by the banks he STILL OWES money to.....for NUMEROUS loans.
Cruz had two loans from Goldman Sachs, which he lied about as far as declaring it to the proper people; he called it an “oversight”.
He told the voters he was liquidating his assets and that was a lie. A loan is not liquidating his assets.
He paid it back with campaign donations; nothing wrong with that of course, but it shows nothing about his character.
All large businessmen have outstanding loans.
In all fairness, his wife makes big bucks working for Goldman and was involved in the North American Union policy writing.
Cruz was an insider at the Bush white house before he morphed himself into an outsider.
Cruz paid the loans back with campaign monies. Nothing came out of his own pocket. Sure, Trump still owes money to the banks, he has lots of assets. You people are pathetic.
Trump owns commercial real estate with mortgages and his loan to value ratio is quite very healthy
Prolly less than 45%
I’m envious
Cruz borrowed money from his wife’s firm guaranteed on the arm for his campaigns and if he paid it back he did so from the money from other future contributors like a POLITICIAN would ....it’s not like they earned it
Trumps is for assets he and his family of companies own
It’s not comparable
Cruz’s business experience is minimal except as a passive investor in sweetheart deals where his end was optioned to him with no or little need of his own money invested
The way politicians usually earn beyond legislative or executive governmental salaries
I don’t fault him given they almost all do it
Bernie Sanders prolly doesn’t and another ultralib from my era...Phillip Hart probably didn’t either
Trumps financials are damn good today ...just the Trump name branding cash flow if capitalized at a hard rate of say 10 still makes him a billionaire from that alone forget all the dirt and bricks and mortar and cash flow from all those buildings and developments
It’s amazing.....maybe 40 more folks worldwide with larger equity real estate portfolios than his
I am curious as to HOW he paid back more than a MILLION DOLLARS in such a short time? news report say that they liquidated assets to pay for his Senate bid, and their salary isn't enough. His wife is supposedly on leave from her G-S job. Does she still receive her salary? Do they still have the big house and other living expenses with keeping two residences (one in TX, other in DC)? Inquiring minds want to know!
Teddy Bare is just another lying lawyer. I don't think Teddy can be trusTED!
One issue was not the loan. The issue was that he neglected to list the loan on his candidacy paperwork. The concern about GS "owing" Senator Cruz is because it provided some of his campaign financing and also because his wife works there, giving GS great leverage over the Cruzes.
you tell me how Trump is owned by the banks he STILL OWES money to.....for NUMEROUS loans.
Because you're trying to compare apples to oranges, and trying to make a legitimate way of financing a real estate property into something immoral; but it is not.
Do you have a mortgage? Almost everyone who buys a house in the U.S. gets a mortgage, and most have a car loan, as well. Mortgages are secured loams; that is, the property itself is collateral for the loan. Also, most Americans have credit cards as well, and many carry a balance on those cards from month to month, accumulating high interest payments. This is an unsecured loan, and the cost of such a loan is much higher, because there is no collateral. Yet most Americans carry these risky loans; they also carry mortgage and car payments, which involve the bank taking back the property if they don't pay the loans. There's nothing immoral in these arrangemtns, as long as people have a job or other means to pay them off. Your car loan and your motgage are contracts and they do not give the bank the power to influence how you vote, for instance.
So, your position that Trump is somehow immoral for having mortgages on many of his properties is unnecessary, because not only are the properties probably being used as collateral to secure the loans; but also, most of his properties contain residences, offices and retail spaces that pay monthy rentals, so there is an income stream that pays the mortgage, taxes, insurance and most likely also some profit. The mortgage contract is already a done deal, and the bank cannot use it to make the proterty owner vote a certain way.
This use of money at interest is a fundamental of capitalism and free markets, and it is a way capital can be maximized so that the owner can develop more property, providing more jobs and residences, offices and retail spaces.
The system you seem to be advocating, where there are no loans and no interest on loans and no trust, just a system of cash on the barrelhead, is called shari'a law. That's how muslims do finance; and that's one of the reasons they have remained medieval and undeveloped.