Posted on 01/16/2016 8:55:17 AM PST by jimbo123
Sen. Ted Cruz (R-Texas) reportedly failed to disclose a second loan for as much as $500,000 from Citibank to fund his 2012 Senate campaign, according to a letter he sent to the Federal Election Commission (FEC) on Thursday.
The disclosure comes after the Republican presidential candidate was already facing scrutiny for failing to adequately report a Goldman Sachs loan of up to $500,000 he also used to fund his 2012 bid.
The one-page letter, obtained by The New York Times, said both loans were "inadvertently omitted" from the required filings.
The Citibank loan was a line of credit, according to the Times. It is not clear from the letter what collateral, if any, was used to obtain it.
(Excerpt) Read more at thehill.com ...
WTH Ted? Come on, man.
Loze with Cruz!
But we still don’t know who contributed to Obama in the 2008 campaign.
Uh, oh.
Hmmm. I would drag up DT’s real financial mismanagement but trumpees only care about the opponent’s supposed problems, anything the DT has said or done before today is irrelevant.
So he did the same thing wrong on both of tax forms? Huge surprise.
This is not a new story. This was part of the original Wall Street Journal article. Cruz took out two personal loans. One from Goldman Sachs against his investment account and from Citybank. Cruz then made a personal loan to his campaign and didn’t realize that his personal bank loans needed to be reported to the FCC. He did report them on his senate disclosure form. This is old news by now and there really isn’t anything to it other than that Cruz made a mistake in his understanding of the campaign finance rules.
If I recall correctly, a loan to get money for a Federal election campaign must be a secured loan. The thought is that unsecured loans could be used to launder contributions in excess of Federal limits.
“Surging Ted” doesn’t seem to care about things like reporting where his money comes from.
I’d rather try and figure out how the HELL Jeb “The Mexican” Bush is STILL in the race instead of jockeying between support for Cruz (my guy) or Trump....
Bush is still in because he’s been assured the fix is in at the convention.
That is my nightmare. People here are too preoccupied with Cruz/Trump or Trump/Cruz carping to realize that his Mexican can sneak in under the wire like a sapper.
Cruz: I forgot.
(hat tip, Steve Martin)
#NewYorkVaues
Trump knows.
Donald J. Trump â€@realDonaldTrump 5h5 hours ago
Oh no, just reported that Ted Cruz didn’t report another loan, this one from Citi. Wow, no wonder banks do so well in the U.S. Senate.
1,638 retweets 3,858 likes
Donald J. Trump â€@realDonaldTrump 4h4 hours ago
Ted Cruz purposely, and illegally, did not list on his personal disclosure form personally guaranteed loans from banks. They own him!
1,225 retweets 3,146 likes
https://twitter.com/realdonaldtrump
This was already reported three days ago. But then you knew that already.
I'll bet when the skyscraper was on fire in Dubai on New Years Eve, there were cops telling the people, "Move Along. Nothing to see here."
It was secured.
I thought Ted is the world's smartest lawyer?
Ted is another slick willy but just a little dumber.
The only surprise is his supporters.
I also think Karl Rove and Reince Priebus have an Operation Chaos ready to go in Iowa to screw Trump supporters at the caucuses big-time with a sabotage and disinformation campaign on the ground and with phone calls.
I know the GS loan was a margin loan. What was the collateral for the Citi loan?
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