Posted on 01/14/2016 1:14:01 AM PST by Greetings_Puny_Humans
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. Those reports show that in the critical weeks before the May 2012 Republican primary, Mr. Cruz — currently a leading contender for his party’s presidential nomination — put "personal funds" totaling $960,000 into his Senate campaign. Two months later, shortly before a scheduled runoff election, he added more, bringing the total to $1.2 million — "which is all we had saved," as Mr. Cruz described it in an interview with The New York Times several years ago.
A review of personal financial disclosures that Mr. Cruz filed later with the Senate does not find a liquidation of assets that would have accounted for all the money he spent on his campaign. What it does show, however, is that in the first half of 2012, Ted and Heidi Cruz obtained the low-interest loan from Goldman Sachs, as well as another one from Citibank. The loans totaled as much as $750,000 and eventually increased to a maximum of $1 million before being paid down later that year. There is no explanation of their purpose. Neither loan appears in reports the Ted Cruz for Senate Committee filed with the Federal Election Commission...
(Excerpt) Read more at nytimes.com ...
Trump has also been divorced twice. Which is something many people choose to overlook.
I believe Reagan is the only other President to have been divorced before taking office.
Divorce is much more common today but its still a sad testament of our society and of Trump.
Connections do far more than “help”.
A competitor of mine got office space provided by the city of Tampa for $1 a year.
I pay 6800 times that amount every month. He has connections that I don’t have.
Life’s unfair. You got that right.
FRegards ....
Its not about being unfair.
Its about the importance of connections. Connections provided by his families money. Connections that enabled his success.
“Its not “snotty” to point out that it was disclosed years ago.”
And smearing Trump supporters over it is not snotty?
It is the timing of the disclosure that is being noticed. It occurred after the election, and Cruz admits it was some kind of “error” in disclosure. That, of course, is lawyer talk to avoid using “deception”, unless you believe that a half million dollar loan is not worthy of being noticed.
Smearing bots who will excuse any dang thing Trump does is fun and time consuming. Theres so many sheep
A guy takes a personal loan to finance a campaign and you think that's something somebody wants to hide?
I think it's a good thing.
And how is that different than Trump who uses his own personal money and brags about it?
How is a personal loan NOT part of ones personal fortune???
They personally owe the money!!!
Have you been living in the same country I have in the last 30 years? Nothing fair in politics.
Not new. I believe in the 1700’s we selected a vice president via dual....ah to go back in the day.
:-)
Cruz was worth an additional 400 thousand after the election was over, which just goes to show you how much he really sacrificed, even despite the narrative he built around himself.
You don't think Trump's net worth went up in 2015?
“I think it’s a good thing.”
It was a violation of the law.
How much money are you able to pay back on a loan when you’re raising 2 kids and constantly on the road campaigning? Are they making house or car payments? What are their financial obligations? You don’t know their household finance. I do know that taking out an additional loan as big as your yearly income is a big investment. Doing it to fight a well-financed machine that’s against you is a huge act of faith - some would say stupidity.
Those who despised Lt Col Terry Lakin for putting his money where his mouth was called him stupid for being a patriot.
I know the kinds of sacrifices involved here; I’ve made some pretty steep sacrifices myself and have paid dearly. What have you sacrificed for love of country - you who consider the sacrifice of Ted and Heidi Cruz to be such a small thing?
It was a violation of the law.
Taking a personal loan to finance a campaign is NOT a violation of the law, nor should it ever be.
You're talking about a family with a father who is a high paid lawyer and a wife who is a senior executive of Goldman Sachs. We're not exactly talking about a pair of middle class people just overwhelmed by the world around them.
Let’s suppose that the dems had legal standing to insist that Donald Trump undergo a psychological evaluation before he could become President and promised they were going to do it as soon as he became the Republican candidate. Now let’s also suppose that the dems had a history of only giving licenses to psychologists who would join their club that meets secretly every month to decide who will take what political patient so they can rule them mentally incompetent. And suppose that the dems also have at their disposal all the NSA data with which to blackmail any psychologist they want to, and also have a history of getting rid of (as in killing) people who oppose their plan.
In such a case, do you think it would be simply “mean” if the primary opponent, who had standing to insist on a psychological evaluation and who is mutually despised by the psychologists who might do it, filed suit to have that psychological screening done on Trump when the motivation to disqualify Trump is reduced because there’s another candidate the psychologists hate just as much who has already shown his mental competence and would then be the candidate if they rule Trump mentally incompetent?
Think, please.
When Donald talks about Cruz, he’s not really concerned. He’s just trying to put out a kill shot. Being a concern troll. Learned it from him.
You’re also talking about gambling away a year’s salary which still has to be paid back on top of any other loans and living expenses you’ve got, if you lose the race. If the Cruz family brought in so much money every year - money you think made them independently wealthy, apparently - then how much do you think they have in savings? How much disposable income do you suppose they have? A person who makes a million dollars a year in CA might barely be able to pay for their house, let alone a car and raising 2 kids. Especially if they are paying back educational loans or have other obligations. You don’t know their personal finances, nor do I think it is your business.
When was the last time you sacrificed a year’s wages on the chance that you might be able to help save the country?
You write:
“Taking a personal loan to finance a campaign is NOT a violation of the law, nor should it ever be.”
The New York Times writes:
“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.”
I wonder which one has it right.
The loan was legal. The disclosure wasn’t done correctly.
Do you understand now?
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