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."
[SNIP]
...."If you listen closely, you can hear the liberal media salivating at a chance to launch a multi-pronged attack against this hard core conservative, which would be eaten up by progressives who hate this man with every fiber of their being. This is liberal schadenfreude on display. Yet, is this a serious scandal, or another media misfire akin to Marco Rubio's parking tickets and his fishing boat? For now, outlets, like Reuters, Politico, NBC News, The Guardian, and CBS News, are all running with the narrative that Cruz didn't disclose this loan, except that he did. Phil Kerpen, president of the free market public policy group American Commitment, took to Twitter to offer a fact check.....
First, Cruz did disclose the loan on July 9, 2012; the runoff against then-Lt. Gov. David Dewhurst was on July 31. Now, the Cruz campaign did admit that there was a filing issue with the FEC, but to say this was "undisclosed" isn't accurate. Moreover, this loan was reported in Roll Call on June 3, 2013:"...........
**********************************
Donald Trump is OWNED by Every Bank on Wall Street
"....... at various times Donald Trump has had hundreds of millions of dollars in loans from Citibank and Goldman, some of which have been repaid, some of which were discharged in bankruptcy when Trump's Altantic City casino went belly up. By Trump's own standard, Citibank and Goldman own him, too.
But of course, it's much worse than that for Trump. As a twitter user pointed out, according to Trump's most recent financial disclosures, he has hundreds of millions of dollars in loans from virtually every bank on Wall Street. Here is a copy of the form.".....
So what? Cruz is getting more stupid than ever.
Trump for President
The Trump tribe better start grabbing some.
Cruz is so desperate. Yesterday he put out a video saying that Rubio was for Cap and Trade but he cut off Rubio’s words to make it look like he was for it. Of course the media isn’t stupid and let the World know that Cruz lied. Of course the World shrugged and said, “And? That is typical of Cruz”. No shock.
Totally true. I'm really disappointed in him. He was much better 3 months ago.
$480M???
That’s barely 5% of his net worth. The man makes $400M per year.
For the size and breadth of his organization this is peanuts.
Trump is a mega-billionaire developer. Those are business loans. Does Cruz expect that a developer pays cash! For Cruz, he purposely didn’t put his ‘personal’ loans for his campaign on his FEC filing. He admitted it. I am not watching the program but I hope this gets made clear.
From now on, we must only allow billionaires to run for President, because they don’t need to take loans for their campaigns and therefore are certain to represent the interests of the common voter.
Makes perfect sense, don’t it?
Cruz might want to note that those are secured loans.
I’m for Cruz, but this week since Beck came about has hurt Cruz and to be honest stating this makes him look more desperate.
You and Cruz don’t know squat about secured transactions and flushing this out will prove how ridiculously little knowledge you and he have about finance and business. I saw the list earlier in the week. Its a bunch of SPV loans secured by different buildings. Only one was a springing loan. Can’t wait to hear all the know nothing Constitutional experts here now become know nothing secured transactions experts.
A real estate empire with mortgage debt? Who would have guessed? It’s called a balance sheet. Assets on one side, liabilities on the other. Something Ted might know about if he had ever run a business. Dumb diversion from Ted’s “forgetting” to disclose personal loans from Goldman-Sachs and Citibank that would not have gone over well with TEA Partiers in the wake of the bailouts. And he mischaracterized taking margin loans against his stock portfolio as “liquidating family assets”. How folksie.
“Trump is OWNED by every bank on Wall Street.”
And he will call them when he needs anything. They give him anything he wants. He said so himself.
Jerk, liar, flip-flop king, narcissist. I wouldn’t vote for you as dog catcher.
Cruz 2016
Either Cruz doesn’t understand how business finance works, or he is lying and spinning like any traditional politician.
So what? Now that's funny, but it does matter for Cruz.
Yet another true believer.
Trump is owned by everyone he or his organization has bribed, which we will hear about after the primaries when the Democrats disclose it.
Once again, Ted is shaving the truth on this. He did not disclose the loans on his campaign FEC forms, but he did disclose them on the Senate Financial Disclosure Forms. At the time, he said he “liquidated” his life savings to run, when in fact he took a loan out against part of it.
Does anyone think he would have been elected if he had sat there with Heidi and said, “We’ve taken out loans from Goldman Sacks, Heidi’s employer, on our retirement stock portfolio to finance this campaign.”
But the good thing for Ted is, that when Donald Trump asked the people at one of his three YUGE rallies yesterday, which mattered more to them: the loans or the Canadian birth. It was the Canadian birth by far. Almost no one really cared about these loans. They cared that a natural-born Canadian was running for President of the United States.
“Trump is a mega-billionaire developer. Those are business loans”
That’s what I’m thinking.
How the hell do people think companies fund new ventures and operations?
One of the big effects of the 08 crash was that banks STOPPED loaning, and that had a negative impact on construction and business start-ups.
The mask has slipped off. People are finally seeing Cruz for who he is. He never fooled me.
LOL! I'll admit I don't know squat about high finance, but I'm fairly sure that money is what Trump's companies owe the banks, not what he borrowed to run his campaign.
Umm, so were Cruz’s. I’m not sure I get your point.
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