Posted on 01/31/2016 7:27:11 AM PST by Cincinatus' Wife
Sen. Ted Cruz on Sunday accused front-runner Donald Trump of owing $480 million, noting "it could be billions."
Appearing on "Fox News Sunday" the Texas senator told host Chris Wallace that his own loans to run for senate were disclosed and also accused Trump of owing millions.
"If you look at his financial disclosure, he owes at least $480 million dollars right now, and it could be billions," Cruz told Wallace.
"He knows this loan story is completely nonsense," Cruz said. "It's also the height of hutzpah - for someone who owes hundreds of millions of dollars if not billions of dollars, to attack Heidi and me because we put our life savings into running for senate. And the statement that the loans weren't disclosed, he knows is flat out false. The loans were disclosed."
Wallace then pressed Cruz to explain what Trump owes.
"If you look at his financial disclosure, he owes at least $480 million dollars right now and it could be billions," Cruz told Wallace. "And by the way with loans when Heidi and I take loans, we pay them back."
"Donald's declared bankruptcy four times, and so for him to sit there owing hundreds of millions or billions or who knows, and to criticize Heidi and me for putting our entire net worth into the campaign is astonishing," Cruz said. "It is not honest, especially because the loans were disclosed, they were publicly disclosed at the time."
That’s not the point is. The point is Trump said Cruz was a puppet for whoever loaned him money. Then Trump would be too.
Cruz is a liar. Trump has never filed bankruptcy!
I know what a Chapter 11 Bko is...and so does the lying Cruz campaign. He’s supposed to be this great lawyer...if so, he KNOWS he is lying.
It is reorganization..the creditors get paid!
Law Dictionary: How is Donald Trump Able to File for Bankruptcy So Many Times?
http://thelawdictionary.org/article/how-is-donald-trump-able-to-file-for-bankruptcy-so-many-times/
Written by James Hirby Fact checked by The Law Dictionary staff
People might ask “How is Donald Trump able to file for bankruptcy so many times?” The answer is “He didn’t.”
Trump himself has never filed for bankruptcy. His corporations have filed for Chapter 11 bankruptcy four times. By filing for Chapter 11 bankruptcy, the corporation is allowed to continue running while restructuring and reducing its debt. By allowing the business to continue, employees still have their jobs and the business is still making money. Corporate debts still need to be repaid but they may be reduced. The corporation must develop a repayment plan and corporate budget. Both must be approved by the creditors and by the bankruptcy court.
In other words Cruz hasn't a clue what Trump owes.
Yeah “so what?” 480 million debt to 10 billion asset ratio is pretty good. Probably much better than Ted’s.
Sad to say, it’s probably both.
So you are saying that the New Jersey Gaming Commission missed something about Donald Trump that the Democrats have discovered? Do you have sources within the Democrat Party? Inquiring minds want to know!
He’s not taking loans for his campaign.
What are you, a union janitor? Because you clearly have no clue how mega corporations the size of Trump’s work.
Quite the opposite, he owns THEM, without capitalists like Trump there would be no banks and you could just go vote for Bernie. And some even pay him rent!
Look at the list - show me the Wall Street Banks on it? It’s a bunch of consortiums.
Cruz still violating the law and has not updated his false FEC campaign finance reports. What is he trying to hide?
Oh, the irony.
Trump: Cruz is an anchor baby.
Trump: Cruz is a nasty person.
I think Ted Cruz is avoiding making a distinction between secured and unsecured because his CitiBank loan may be a signature loan, and therefore illegal under the Campaign Finance Law.
“So what? Cruz is getting more stupid than ever.”
It’s funny how your screen name is, Logical Me. Your response is a 7 year olds, “So what” and a slide to kindergarten with calling someone “stupid”.
Someone post a large article with talking points that are factual and rather than say nothing at all, or argue a legitimate point, you basically cross your eyes and stick out your tongue.
I’m with you. I’ve never voted for a democrat, but I’ve conciously not voted for republicans before - just not for the highest office of them all. If this madman is the nominee then I suppose I’ll have to cross that line.
Huge difference.
Yet still Glenn Beck endorsed Cruz.
This is a nutty accusation
He owns real estate
He has mortgages and other loans
Dog chases cat
Cruz borriowed for his campaign and failed to disclose
Big difference in comparison
I woulda thought Trump owed billions
Additionally Trump’s loans are not personal loans.
Huge difference.
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