This changes the narrative. He ran as a Tea Party outsider.
Disclosing to the Senate is not the same as disclosing it on an FEC form.
This is yet another thing that bothers me. It is the same game of deception played over and over and over again by those in Congress to get themselves elected.
.... This is yet another thing that bothers me. It is the same game of deception played over and over and over again by those in Congress to get themselves elected.
Why don’t you just be honest and admit that you are all in for DT no matter all the FACTS that show who he is really is and you will try to pump up anything against Cruz?
There was an episode of the Colbert Report where Colbert was creating his Super PAC last presidential election (yes, he created a lefty Super PAC). He laid the forms out end to end. It covered a football field.
There is nothing deceptive or improper about taking a loan out against your own account so why was it not included?
Put the two together.
Just because it is a loan does not necessarily mean there is nothing there.
What was the interest rate compared to other loans from that institution at the time?
Was the loan repaid in the amounts and time frame it should have been?
I am not suggesting Cruz or GS did anything wrong with this loan but when it comes to politicians and money people you have to look beyond the obvious.
How does getting a standard margin loan available from any brokerage change his image as a Tea Party outsider? Brokerage margin loans are not very different from credit card cash advance checks. You don't need to ask anyone for the loan. You just write a check. I'm not surprised he overlooked the need to report the loan. I'm surprised anyone has to report a margin loan. A home equity loan requires loan officer approval and a home appraisal. A margin loan is simply a matter of writing a check from the brokerage account. As long as the amount of the loan is no more than half the market value of the stocks in the account, the check will clear.
There are no favors involved, whether at Goldman or anywhere else. You can get margin loans at a discount broker with way better rates than at Goldman, which charges more because it's Saks Fifth Ave compared to something like E-Trade's Old Navy. Cruz likely did not have a choice about the Goldman account - as long as his wife worked there, his brokerage account had to be there so that it could be audited for insider trading.
It's kind of ironic that people think Cruz is the Wall Street candidate. I don't think you have any idea how despised Cruz is within Wall Street circles for engineering the government shutdown.