Posted on 01/14/2016 8:03:56 AM PST by conservativejoy
Brokerage account margin loans are special in their own way, but not because of any favors. They are low interest loans mainly because the collateral is held by the brokerage, extremely liquid and easy to value on a day-to-day basis and can be liquidated without the account holder's permission to pay off the loan at any time. The terms of these loans are set by the Federal Reserve Board's Regulation T. Wikipedia's Cliff Notes version of Reg T.
$500,000 of $3.4 million is half?
Cruz never disclosed this
Start with the form at the begining of this thread dated 7/9/12. It was left off one form, it was disclosed several times on other forms.
d told people publicly he was putting every last penny of his own liquid networth into the campaign. Getting a loan off your own assets isn't the same thing.
Yes it is, it is writing checks to be covered by your existing account.
I don’t have a problem with him taking out a margin loan.
I have a problem with this supposed mistake.
Maybe it was a mistake.
But I know this..if I am running for Senate as an outcast and I have a brilliant legal mind - I am damn sure going to make sure I make no clerical mistakes because I know that they will be after anything and everything I do.
So, either it is an intentional mistake OR he isn’t as smart as some people claim. You just don’t forget something as important as this under penalty of perjury.
I wouldn’t believe it of Hillary or Obama. I can’t give him a pass.
Boo boos turn cases on their head.
You are trying to claim that Cruz himself forgot something very important under penalty of perjury.
Not a law clerk.
Btw, there are cases where a MISPLACED comma can have a huge effect.
So the claim here is that Cruz isn’t a very good proof reader??? Or he just forgot his lean?
The 500 thousand number is just the number Cruz's team admitted to. NYTimes says the loans were 750 thousand and went up to a total of one million thereafter. Cruz supposedly spent 1.2 million of his own "liquid assets" for the campaign.
The other problem is that this is a loan taken from the employers of your wife. She was a vice president for Goldman Sachs at the time, and it is that very same organization that he received a loan from-- apparently without bothering to report it to the FEC or any of the details behind the loan. No one has seen the contract Cruz signed up for.
Start with the form at the begining of this thread dated 7/9/12
This is not to the FEC. Reporting it as personal liability doesn't provide any of the documentation necessary for the FEC to go through. In this medium, Cruz could claim it was for a new house. He doesn't have to admit that it was used for his campaign.
The dollar amount for the Goldman loan is wrong here? It was half a million and that is not what is disclosed here.
The other problem with the loan is that it came from Goldman Sachs where his wife at the time was a vice president for. The reason you report it to the FEC, along with copies of its terms, what it will be used for, etc., is to prove that there was no untoward arrangements made with whoever is giving you the loan.
You have a nice day. Post your exaggerations and misleading statements to someone else.
I’m not going to repeat the info already in this thread multiple times.
That’s true.
There may be nothing at all to the loan. But he didn’t disclose and the FEC couldn’t look through it.
If this was HIllary or Bernie people here would question it.
You can’t give a person a pass just because you like them.
Well, that’s it for me! We’re going OFF the GRID! LOL!
Do you honestly believe that Ted Cruz is going to prison once he has filed an amended form with the FEC? No, of course not. Why? Because it is no big deal. If you had ever worked with FEC, SEC, FCC or any other alphabet agency filings you would know better. You obviously have not so you are parroting a stupid line of attack from Trump looking for a gotcha moment.
Then again, I wouldn’t expect anything less from NY liberal Democrat running as a Republican.
Today he said it was disclosed, but may have been inadvertently put on a wrong line or form, which just required a correction. I’d like to see this much research put into Hillary’s finances.
So because you don't want to call a 500 thousand or larger margin loan a "loan" I'm misleading and exaggerating? Please.
Mark Levin said one of the campaigns was behind it.
Wonder which one.
"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 their actual net assets went up $400k. Cruz made a million a year as a lawyer and Heidi six figures from Goldman.
The $500k loan from Goldman funded their campaign so as to not impinge on their high-end lifestyle and they knew it was counter to their campaign image. So, they didn't properly disclose it.
A spokeswoman for Mr. Cruz's presidential campaign, Catherine Frazier, acknowledged that the loan from Goldman Sachs, drawn against the value of the Cruzes' brokerage account, was a source of money for the Senate race....The failure to report the Goldman Sachs loan, for as much as $500,000, was "inadvertent," she said, adding that the campaign would file corrected reports as necessary.
Believe what you want. But it is an ongoing saga of Cruz as a globalist, corporate hack who tugs on the heartstrings of those who desperately want a faith-filled champion, of which he isn't.
Earlier this year, when asked about the political clout of Goldman Sachs in particular, he replied, "they seek out and get special favors from government."
sigh...
half the worth
never disclosed
just the number Cruz's team admitted
All perfectly accurate! Though you do mislead when you fail to point out I never said he never disclosed it on random paperwork to someone other than the FEC. Not giving it to the FEC protects himself from having that loan scrutinized. And that’s the truth.
If you can’t hold Republicans to a high standard then don’t try to do it to the Dems.
God Bless you. I hope you can find His Peace.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.