Posted on 01/20/2016 10:12:28 PM PST by M. Thatcher
By now most people are aware of the controversy surrounding Candidate Ted Cruz and his failure to reveal $1.3 million in campaign "loans" from Goldman Sachs and Citibank during his 2012 campaign for the senate.
At the heart of the issue is a failure of Ted and Heidi Cruz to list Wall Street "loans" on the required Federal Election Commission financial reports.
Together with the campaign officials the Cruz's say the non-reporting was an accidental oversight. However, a watch dog group has now filed a complaint with the FEC which is step one to beginning an FEC investigation.
cruz goldman sachs
The full complaint (pdf) is outlined below. However, the larger question behind the complaint would be the motive for Ted and Heidi Cruz to hide the source of their campaign funds. The activity the complainant is presenting to have the FEC investigate, if proven accurate, is factually illegal.
The "accidental omission" is not necessarily the problem. The irreconcilable consequences from an accurate filing are the larger issue.
They can correct the missing information and file amended reports. However, if the Cruz campaign corrects the record based on the explanations to the media, the amended reports will reflect their violations of federal campaign finance laws. View this document on Scribd
A candidate CANNOT take out an unsecured signature loan for their campaign. Also, while the legalese can quickly get a person into the weeds, essentially a candidate's spouse is similarly limited in contribution amount to the same principles as an unrelated campaign donor.
If a candidate could take out an unsecured signature loan, it opens the door wide open to corrupt exploitation by external influence.
The candidate with $500k in assets, or a Manchurian candidate with zero in assets, could be given a $2 million loan – which the loan originator would not expect to get back.
In this example, third parties, who are part of the influence equation, could pay back the loan on the candidate's behalf, avoid FEC/public scrutiny and hold influence over what the elected political official does in office.
That's the BIGGER question in this example.
* Was this second scenario a method for Wall Street, via Goldman Sachs, to put the well-educated husband of one of their "employees" into office, simply to insure that as a U.S. Senator he was friendly to their interests?
* Would Wall Street industrial bankers, who finance global corporations, be able to insure this type of candidate would, as an example, advocate for something like Trans-Pacific Trade?
* Would Wall Street institutional bankers, who benefit from low interest loans via U.S. Treasury, be able to influence such a candidate to avoid auditing the federal reserve?
* Would Wall Street institutional banking agents who benefit from low interest federal borrowing, and higher interest investment loaning, be able to influence policy regarding North American economic development?
* Would, as an example, a billionaire hedge-fund manager (Robert Mercer), who is in a legal fight with the IRS to the tune of $10 BILLION taxes owed, be willing to invest several million, perhaps tens of millions, into a presidential campaign in an effort to win the White House and influence a U.S. Tax Policy that would tilt the IRS scales in his favor – and consequently save him billions?
Those become the bigger questions to consider when asking yourself why would such a brilliant legal expert, a very smart lawyer like Ted Cruz, just inadvertently omit such a filing to the FEC.
Wouldn't an equally sharp spouse like Heidi S. Cruz, who was -according to Ted- a key decision maker in the loans, and who is also an energy investment banker with Goldman Sachs, also identify the concern?
cruz donors 2
I'm beginning to take a much more skeptical look at Senator Ted Cruz's financial intents and the people who hold influence upon him.
The Robert Mercer angle alone is showing some VERY ALARMING "probabilities". ...The fact that Mercer owes the IRS between $6 and $10 billion, and is in a legal dispute over payment,... in connection with Mercer setting up the Keep the Promise (KtP) Super-PAC before turning it over to David Barton (Glenn Beck affiliate),.... and then Mercer giving Carly Fiorina the start up money from KtP to begin Carly for America,... and then Mercer purchasing the Data Analytics for Ted Cruz,..... and then Mercer buying influential interest in the Breitbart website to the benefit of Cruz..... All gives the brutally obvious motive of a quid-pro-quo.
Robert Mercer spends $100 million to get Ted Cruz the White House; Ted Cruz then turns around and leverages a better IRS result for Robert Mercer.
One of Cruz's primary campaign points is the elimination of the IRS and the imposition of a flat tax. If successful, that would save Mercer $6 to $10 billion.
That's BILLION, with a "B".
In addition the Cruz campaign head Rick Tyler made some very bold-faced misrepresentations earlier tonight about K-Street Lobbyists and Donors not having influence over Ted Cruz's legislative record. The truth begs to differ significantly (as noted above).
There are three KtP Super-Pacs and they are all spending significant amounts of money. See HERE and See HERE and See HERE [Notice the Cambridge Analytica is Robert Mercer.] Something very sketchy is going on…
ted and heidi kiss
If they put up all their assets, how is this an unsecured loan? Is the author too lazy to do his homework or just not too interested in anything but smearing Cruz?
Like, say if that billionaire received a loan from a Soros group? Or about how he was sued for failure to repay loans?
On loans:
Rick Tyler, a Cruz spokesman, emphasized that the loans were taken against Cruz family assets, and that under federal campaign law, the Cruzes can never recoup the money, effectively making it an out-of-pocket expense.
In total, Cruz put $1.2 million in personal funds toward the 2012 Senate race, some of which was borrowed. “No donor paid off his loans,†Tyler said.
And the amount that Cruz put into the campaign from personal funds was disclosed to the FEC in a timely manner, Tyler said; the error came from omitting the fact that some of those personal funds started as loans.
What loan transaction did Cruz illegally do?
Good question, I have no idea myself.
I’m agreeing with you. That’s what the primary process is for. Whoever our nominee is MUST BE VETTED, in every aspect.
well, bye.
That isn’t loan transaction. Loan transactions are between lenders and borrowers. Words do matter right?
The FEC issue is a reporting issue.
Ping
I wonder what a Billionaire, in comparison to a lowly millionaire, could have compiled in his lifetime?Yea. like Cruz's major donor. Hedge fund manager Mercer who not only "compiled" billions he OWES IRS BILLIONS.
Maybe you overlooked this:The Robert Mercer angle alone is showing some VERY ALARMING "probabilities". ...The fact that Mercer owes the IRS between $6 and $10 billion, and is in a legal dispute over payment,... in connection with Mercer setting up the Keep the Promise (KtP) Super-PAC before turning it over to David Barton (Glenn Beck affiliate),.... and then Mercer giving Carly Fiorina the start up money from KtP to begin Carly for America,... and then Mercer purchasing the Data Analytics for Ted Cruz,..... and then Mercer buying influential interest in the Breitbart website to the benefit of Cruz..... All gives the brutally obvious motive of a quid-pro-quo.
WOW! That explains the Cruz/Beck love fest
Who was it again that was running around pounding his chest, talking through his nose and rubber lips about "the Washington Cartel" and crony capitalists?
I'm thinking the Canadian anchor baby is more stupid and dishonest than he looks.
...the way money is laundered for a bribe. Someone else will pay off the loan. The deal is complete. Machine politics, old skool.
It would appear that some heads are exploding over this.
It seems like Cruz is a smart enough lawyer not to have done something like this.
I can’t help but to wonder what the heck is going on.
The bigger you are, the harder you fall. Enjoy!
I think he may be overrated a bit.That or we have a lot of stupid "freepers" that think he's the most brilliant man to ever walk into the Senate Chamber.
The problem is, Trump isn’t going to be seriously vetted until he’s nominated. The MSM and left, I repeat myself, will unload when it counts the most. There’s no reason to do it now and if you’ve noticed, their not.
A long time billionaire who operates in the very liberal New York where money and power talks is going to have some “baggage”. It is a complicated empire to attempt to penetrate and that will take real resources, resource Cruz doesn’t have.
Cruz’s life is relatively easy to vet. He has a public record and his life is very simple when compared to Trump’s.
WTFWTFWTF!?!?
Oh man, something tells me Mark Levin is going to be EXTREMELY ANGRY tomorrow...
TO AVOID ANY APPEARANCE OF IMPROPRIETY, you'd avoid Goldman Sachs or JP Morgan (another of his wife's employers) or anyone like that and go to your local CREDIT UNION or SAVINGS AND LOAN or FIRST NATIONAL BANK. IF it was on the up-and-up, that is.
This has all the appearances of how banksters bribe politicians: "lend" them money, then a third party repays the loan, everything looks fine with auditors, but it has successfully laundered the money to be used as a bribe.
“This was not an unsecured loan. It was secured against the stocks and bonds in the Cruz’s investment account.”
That’s neither here nor there. This is an INVESTIGATION to see if Ted Cruz did something ILLEGAL by getting an ILLEGAL unsecured loan. Such a loan could be really BAD (then list 8 ways why it could be bad).
It isn’t what someone has done (or didn’t do) - it is the severity of the accusation.
I mean - they are going to do a FEC INVESTIGATION!
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