Utter nonsense!
Goldman made no under the table contribution by way of ted taking a margin loan on his securities account. I did this frequently. When you have a margin account you can take a loan on the stock value of your account, you can then buy more stock or withdraw it. you pay it back when you sell the stock and pay interest on the balance every month. Should the value of your investments drop, you get what's called a margin call. You then must deposit the difference in cash to your account. This is a recurring process that is in place for as long as you have the account. the only way to eliminate it is to sell all your securities and close the account.
The CITI loan was a standard personal loan the same as you or I get at any bank. All this is above board and reported to the senate ethics committee as instructed.
You and Trump are trying to make this into a campaign issue when all you found is normal financial transactions.
The CITI loan was a standard personal loan the same as you or I get at any bank. All this is above board and reported to the senate ethics committee as instructed.
“You and I” do not get multi hundred thousand dollar unsecured loans. What were Ted & Heidi doing with this huge “personal loan”. Hitting the crap tables at an Indian casino? Let’s see some documentation. voters deserve answers ASAP given Cruz’s position in the Senate related to lobbyists like Goldman and Citibank
I’ve got a feeling this unsecured Citi loan could end up being more problematic than the Goldman loans. Smells real bad. Cruz needs to clear the air.
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?