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.
Cruz told his supporters he put his own assets on the line to run for the senate! He did put up collateral for the loan but ONLY 500,000.00 for more than a million dollars! So the bottom line here is he was beholden to Goldman Sachs, this is WHY money has corrupted our government, pay to play!!! EVERYONE can argue all they want to Trump being on the opposite side of things is just NOT the same he owned them VERY different situation plain and simple!!! The American dream is being strangled by government if you are NOT a Trump, you DO NOT stand a chance of EVER becoming a Trump!
I keep hearing this particular meme - giving the impression that Cruz is sitting at his desk rubbing his hands, figuring out ways to dupe everyone.
It's a campaign. It is somewhere in the size of at least a sub-s corp. It very probably had accountants and lawyers, and I doubt very much that Cruz had his hands on the books. I doubt that he could.
The buck stops with him, even as it stopped with me when my accountant made a huge error. I had to own it. I had to pay the fine, but I had nothing to do with the bookkeeping and filing that caused the error.
He admitted it, and no doubt he'll take the hit (if any). That doesn't mean that anything nefarious was necessarily going on. My business had to amend filings fairly frequently. Oversights are just part of the deal.
Completely brainwashed by a wrestling promoter.
Yes, he did - there is nothing illegal about that, and it was reported at the time. This is just more sleaze from the master of slime, Trump and his minions.
HaHa!
I don't know if you are stupid or just dishonest - maybe both. Cruz DID report the loans the the Senate Ethics Committee BEFORE the election. As has been reported here earlier, even the FEC admits that it is not unusual for candidates to be confused on how to report personal loans that are used for the campaign. And all Goldman-Sachs did was lend Ted HIS OWN MONEY.
But did you take the loan and loan it to your senate campaign?
The issue is not the loan. The issue is that is wasn’t reported to the FEC BEFORE he was elected.
The reason loans have to be reported to the FEC is that, hypothetically, a person could take out a loan, loan that money to his campaign, and then someone else could repay it or the bank could forgive it for political favors.
I am not saying Cruz did this but it is the reason the FEC requires it.
Trump’s argument is that Ted is supposed to be the smartest guy in the room so his excuse for not filing it with the FEC doesn’t hold water.
So, if Ted’s loan and repayment are on the up and up what reason could he have for not filing?
Maybe because he was running as an outsider and didn’t want people to know his connection to GS?
He didn't fail to report it. He reported it to the Senate Ethics Committee, so he wasn't hiding it.
They took THEIR money and the LOANED it TO him, and he LOANED it to his campaign.
No, they gave him a loan against assets he already owned. And no, he did not LOAN it to his campaign - he GAVE it to his campaign. The campaign is not responsible to repay any of that money to Ted or to the bank. At least get your facts straight!
“It does seem hard to believe that Cruz, that everybody holds up as a genius and a great lawyer, wasn’t aware of the requirements or couldn’t find them (as I did in a few minutes time on Google).”
The FEC Commissioner didn’t seem to find it hard to believe, because he said people get confused by those rules all the time.
I’m not sure what being a lawyer has to do with anything, they do not teach you the intricacies of FEC filings in law school, I’m pretty certain.
So? You and I probably do not have the assets and income that the Cruz family does. I am sure Donald gets multi-million dollar loans just on his signature alone all the time. I don't see you claiming that makes Donald unfit for office...
Why would he assume that?
The FEC and the Senate Ethics Committee are two separate and distinct bodies, and the paperwork which makes one happy won't necessarily work for the other one. Each has their own set of rules to enforce, and their own distinct forms to be filled out.
Cruz is no country bumpkin trying to do a "Mr. Smith Goes To Washington" thing, he was already a well-connected Washington insider and a top-level lawyer, so his memory lapse claim doesn't ring true.
That is BS - this is a secured loan. And if it was against the rules, there wouldn't be a process for the candidate to report it when it happens. I am amazed at how deceitful Trump and his supporters are on this issue. If they will lie over and over again about something small like this, even when the facts have been presented, what would they do if the Don was elected and got caught doing something illegal??? It would make the Hill and Bill Coverup look like amateurs in comparison!
You don’t disclose loans that you are trying to “hideâ€.
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He did not report it until AFTER the election.
Why?
You really don’t understand what a margin loan is, do you?
You really don’t understand what a security is, do you? I’ve never bought a box of fruit loops with a bond. Nothing was preventing Cruz from cashing out his GS account and using that CASH to finance his campaign. He didn’t. Instead he chose to borrow some of Goldman’s CASH. Really, why is this so difficult?
Law school teaches you to read laws and to understand what they mean.
Generally speaking, you need to be a pretty smart individual to get through the Harvard Law School with top honors (I can think of one glaring exception, however).
Yes, even though laws and regulations can be confusing, I can’t believe that Mr. Cruz (who Alan Dershowitz said was one of his smartest students) was baffled by the FEC filing requirements.
No, the scrappy grassroots candidate was financing himself. That’s what a margin loan is.
The Citibank 500k loan was not a margin loan and you know it.
You Cruzers really don’t want to talk about that unsecured loan for some reason. Let’s see the loan app on that one. Cruz needs to clear the air before Iowa voters cast their ballots.
In my mind, in the scheme of things, this isn't as bad as running while ineligible (the RWI offense), but his excuse is thin.
Why on earht would he cash out, when the stocks are working for him? Who does that? Of COURSE he did a margin loan. So would I.
Either you take his word, or you don't.
BTW, Goldman supported Obama for the most part. I doubt they think any more of Cruz then the GOP. In fact, most of wall street was in the Obama camp.
The reasoning is simple. Big banks in todays environment require a close relationship with DC to survive. Crony Capitalism. There is no friggin way they support Cruz in any major way, but some of their exec's might, I dunno.. They would however, support Trump with the majority of their contributions.
Cruz's contributions thus far seem to indicate this. We will know more in a few months..
Why on earht would he cash out, when the stocks are working for him? Who does that? Of COURSE he did a margin loan. So would I.
You were not running for Senate as a grass roots TEA party candidate against a fat cat rich establishment guy.
If Cruz didn’t want a Goldman loan associated with his “grass roots” campaign he should have cashed out. Nothing says “grass roots” Tea Party campaign like a 500k Goldman Sachs loan. Optics on that are BAD. Plenty of reason to obfuscate that. Comprende?
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