BACKSTORY At the time Cruz got his hands on over a million dollars from his hefty margin account at G/S......he was whining in the media, telling Texas voters that that he and his faithful little wife were having to liquidate their entire family savings (of slightly more than $1 million) to fuel a come-from-behind win in the Republican primary.
The Cruz tale has become legendary.....part and parcel of Cruz/s campaign narrative of a populist, scrappy Cruz putting everything on the line to overcome a wealthy establishment opponent.
(JUST SAYIN Most people would not have over a million dollars that they could easily liquidate on some cheap whim of being the prez.)
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Cruz/s belated disclosure of the loan was bombshell. In what was clearly a pre-meditated move (to give himself cover), Cruz did disclose the G/S loan....BUT not on the FEC form required by law. Now he will amend the FEC form.
The G/S loan is a bigger problem for Cruz than most candidates b/c of the way he/s structured his campaign.
He fashions himself as a homegrown guy w/ working class values, a harsh critic of big banks and Wall Street....says he/s just a Texas rube who/ll never have his name on a plane.
But wait a sec.....the whopper G/S loan makes Cruz look like more and more like a slickster....a slick pol, a powermonger who/ll go against his own principles to get into office.
Besides, Cruz/s drumbeat for H-1B/s never mentions that he was on the hook to H-1B user Goldman Sachs (big employers of H-1B/s) for over a million.
Ut oh ...apparently, Ted has more than one New York bank loan floating around, according to the Conservative Treehouse.
What was the real reason he didn’t disclose on the SEC forms? I don’t believe Mr. U. Heep made a clerical error.
Awesome compilation, Liz! Good work.
Bump your excellent post!