Posted on 01/21/2016 8:30:47 AM PST by conservativejoy
During the second hour of his show today, Mark Levin went through Trump's latest attack on Ted Cruz where he suggested that Cruz was worse than Hillary for not filing a loan disclosure for his Senate campaign in 2012.
Trump said this was intentional by Cruz in order to hide his loans from the American people. But Levin called that a flat out lie, pointing out that Cruz did report the loans in other filings and explained how it's common that someone might think this type of collateralized loan didn't need reporting to the FEC, considering it was basically his money.
Levin said this isn't a crime nor is it unethical, and certainly not a reason to keep beating someone over the head with it. Levin says Trump needs to stop lying about it, but that he probably won't.
Levin also pointed out the absurdity of Trump attacking Cruz for "personally guaranteeing loans with banks". Levin chuckled and said "it's called collateral!," pointing out that Trump just wants to muddy the waters.
And there's more, including address his comparison of Cruz to Hillary.
Listen at link.
Don’t take it personally...my words are more out of frustration than as an attack on some Freepers.
Thank you, but that filing with the ethics committee has nothing to do with campaign financing. It’s mentioned as one of those things a prospective candidate has to do, and doesn’t supplant any other requirements for documenting a campaign’s finances.
The Candidate Report is a one-time requirement upon announcement of candidacy (and then an annual event, if necessary).
http://www.ethics.senate.gov/public/index.cfm/overview
Presumably, Cruz arranged for these loans before officially becoming a candidate, so they appeared in that filing.
Once a candidate, he was subject to the whole range of FEC regulations and requirements, one of which appears as section (g) at this link:
https://www.law.cornell.edu/cfr/text/11/104.8
So, his filing with the Senate Ethics Committee wasn’t sufficient to get him past this part of the law.
Not surprising that Democrat Don prefers Hitlery, who received his campaign contribution, to Ted Cruz, who stands for everything Trump claims to represent.
Donald Trump is the biggest con man in American politics. Which, given the current occupant of the People’s House, is saying something.
What’s really dumb is to take a BS accusation(inference) by the NYT as true.
That inference is that ted did not report the loans to the FEC.
But I found this on the FEC site under loans to campaign.
Loan Source Name Description City State Zip Loan Received Date Amount Memo Code
CRUZ, RAFAEL EDWARD TED LOANS RECEIVED FROM THE CANDIDATE AUSTIN TX 78701 03/31/2011 $70,000
CRUZ, RAFAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 08/07/2012 $150,000
CRUZ, RAFAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 07/23/2012 $250,000
CRUZ, RAPHAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 05/22/2012 $560,000
CRUZ, RAPHAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 05/18/2012 $400,000
This was on the FEC site under loans to campaign.
It is not the Senate filing, which BTW goes to the FEC.
Loan Source Name Description City State Zip Loan Received Date Amount Memo Code
CRUZ, RAFAEL EDWARD TED LOANS RECEIVED FROM THE CANDIDATE AUSTIN TX 78701 03/31/2011 $70,000
CRUZ, RAFAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 08/07/2012 $150,000
CRUZ, RAFAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 07/23/2012 $250,000
CRUZ, RAPHAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 05/22/2012 $560,000
CRUZ, RAPHAEL EDWARD TED CANDIDATE LOAN FROM PERSONAL FUNDS AUSTIN TX 78701 05/18/2012 $400,000
Sorry, but for the smartest guy in the world with a Goldman Sachs wife, I find this kind of laughable.
This entire mess is all crap!
Excuse my French.
Why is it that nobody bothered to check the FEC filings for the Cruz campaign in 2012.??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
This was on the FEC site under loans to campaign.
It is not the Senate filing, which BTW goes to the FEC.
Loan Source Name Description City State Zip Loan Received Date Amount Memo Code
CRUZ, RAFAEL EDWARD TED LOANS RECEIVED FROM THE CANDIDATE AUSTIN TX 78701 03/31/2011 $70,000
This is not reporting the Goldman & Citi loans as related to the campaign. Cruz said on Levin last night the Goldman and & Citi money was for TV ads.
This is reporting Cruz’s “personal Loan” TO the campaign from Cruz.
It’s pretty clear Cruz was using a cut out here to distance his “grass roots” campaign from “crony capitalist” Goldman loans. Fact remains he has still not reported them as required by law.
The give away that Cruz is playing fast and loose here is Cruz’s repeatedly using the term “liquidating liquid net worth”. Liquid? Odd choice of words there. That is Clintonian word parsing because he knew he might get busted on this. And he did.
Sorry but your analogy doesn’t work.
Powerful businessmen don’t vote on legislation.
People running for a seat in the Senate might vote in the future however.
By the way, I have never accused Cruz of accepting money for votes and I do not believe he did.
I do, however, believe he avoided claiming the loans he gave/lent to his campaign in order to keep people from tying him to GS.
The fact that he claimed the loans AFTER he won his seat does not explain why he didn’t report them to the FEC WHILE he was running.
The Goldman loan and the Citi loan both went into his personal account as they were personal loans. They were not loaned by the banks to the campaign.
That data shows the dates and amounts of loans given by Cruz to the campaign.
The where the money came from data was reported to the Senate in his personal financial disclosure as directed by the FEC, by the way.
The FEC had what they needed and that is the record of the loans given to the campaign and for how much.
Further data shows that the 400k was paid back by the campaign to cruz.
All this is reported. The NYT simply wanted to make another BS accusation and you have fallen for it as has your mentor, Mr. Trump.
That is a outright lie.
You don’t know what you are talking about.
Here’s an article discussing it in more detail, there are multiple alleged violations.
A candidate CANNOT take out an unsecured signature loan for their campaign. Also, while the legalese can quickly get a person into the weeds, essentially a candidate’s spouse is similarly limited in contribution amount to the same principles as an unrelated campaign donor.
If a candidate could take out an unsecured signature loan, it opens the door wide open to corrupt exploitation by external influence.
In this case his assets put up for collateral were less than the loan value. And using his wife’s assets put her in the same class as a regular donor which is yet another violation.
You people are infuriating!
Self serving ignorant morons.
It’s a flim flam confidence trick here. Cruz reported the GS loans to the Senate as “Personal loans” to him and reported the same exact money to the FEC as “personal loans” from himself to his campaign. Except it wasn’t his money. It was Goldman’s & Citi’s. Deceptive to say the least. Given the motives to distance GS & his “grass roots” campaign against a fat cat like Dewhurt, I’d say Cruz did it intentionally.
If you read the NYT article, the line of credit loan from Citi was not for campaign purposes. Even the NYT admitted that much and did not make that accusation, but they did say in a offhanded way that it could have freed up other funds..
This is a tempest in a teapot, littered with lies and distortions.
Your understanding of financial matters is very lacking.
Where do you think trumps campaign cash is coming from...?
His piggy bank? His money is in his assets. He goes to the bank to get a temporary loan on those assets, or he liquidates assets to get the cash.
That’s what Cruz did. That money he got on a margin loan was his money, not Goldman’s..any more than Trumps loans he may use to finance his campaign belong to the bank. It’s the same...
Nobody, not even the richest guy on the planet has all his wealth in cash. That would be idiocy. It’s all invested.
I’m outahere......This is pointless..
That’s fine but I don’t it was an intentional omission as it was disclosed at various other places.
I’m sorry, but you are going to have to find a more credible source than Conservative Treehouse. They do nothing but pump Trump and bash Cruz. So I am sure their coverage is more than a bit biased.
Sorry, unlike the “NY Liberal” school yard campaign season taunt this is a substantive issue. Here we have a sitting U. S Senator entangled with the biggest crony capitalist of them all, Goldman Sachs.
It’s important to remember that Goldman Sachs lead the charge to get TPA passed last year. They were the largest donor of any company to U. S. Senators during the TPA battle. Surprisingly, Ted Cruz also campaigned for TPA until the last moment when he changed his vote. Given the alignment of Cruz & Goldman Sachs on these hugely important globalist agenda issues, it’s more than reasonable to explore their history together.
The Faux Right Scoop site is not really a legitimate source of info so I don’t waste time on it. I don’t follow Levin much. All the site does is pimp Levin and ignoes the rest of the talking heads on radio like Dana Loesch, Rush Limbaugh, Michael Savage, Laura Ingraham and Sean Hannity.
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