Posted on 02/12/2016 8:27:07 PM PST by TBP
When Donald Trump heard that Ted Cruz had taken out a loan from Goldman Sachs (against his own investments, by the way), he lashed out at his rival. The loan proved that Cruz was owned by the banks! He could not be trusted! He'd just do Goldman's bidding!
Oh my, how terrible! Yes, Cruz was clearly a crony of the big banks.
This criticism caused the Cruz campaign to study Trump's own finances a bit. What they've discovered is downright shocking:
Republican presidential hopeful Ted Cruz on Sunday said GOP front-runner Donald Trump owes “hundreds of millions or even billions†in unpaid loans. “If you look at his financial disclosure, he owes at least $480 million right now, and it could be billions,†Cruz said on “Fox News Sunday.†Cruz then lashed out at Trump for criticizing him for taking out a one million dollar loan:
He knows this loan story is complete nonsense. It’s also the height of chutzpah 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 that brings me to The Donald's character. This man is a pathological liar with no moral compass whatsoever. Time and again, he accuses his rivals of doing something he -- Trump -- himself is guilty of it. See also his accusation that evangelical leader Bob Vander Plaats demanded $100,000 to speak at a rally in Iowa, with the facts proving that Trump demanded that incredibly amount and got it.
(Excerpt) Read more at pjmedia.com ...
Stop biting your lip!
The Banks owe TRILLIONS to the American People for bailing their sorry $%#@!! out in the last crash and the coming next one.
When will the Banks ever pay that back to America? Never is the answer.
Coming from you that means truth & success.
Yes Mom. LOL
Dude, a man with Cruz’s meager income and wealth taking out such a large loan to run for office simply reeks of funny business!
It’s a yuuuge red flag.
One imagines no circumstance under which the loan would be called in and the borrowers assets seized.... this is why the FEC takes such great interest in this sort of goings on.
If the law REQUIRED action to collect on such a debt there would be no problem. Financing a political campaign using personal debt should not be allowed.... it’s an obvious way to launder campaign $$$ Not so dissimilar to the monies funneled to Hillary long ago by a donor who took both sides of the futures market so she could not lose. (cattle futures)
However, you overlook the fact that the loan Cruz took out from Goldman Sachs was a loan against his own equity he had in an account that was equal to the amount of the loan.
Way different.
Cruz borrowed against his own account!!!
He took out a loan pledging his own savings account - not money he doesn't have, and unlike Donald, Cruz won't file bankruptcy forcing you and me to pay for his bad loan!!!
Judging by most of your posts....
there’s a lot of things that you don’t realize (and never will).
So i read your post and have no idea what you’re trying to say. Is there a difference between owing 20% in either case regardless of how its paid off or it’s uses?
The difference i see is one is a loan and the others borrowings are in the form of a bond. Its a legal differentiation more in form than substance.
Are you saying the use of the money somehow differentiates the monies? Is a business loan more noble than a personal loan to run for the Senate?
Is a business having debt different than an individual with with a loan?
Are you saying it’s okay to borrow against business activities but not for personal ones?
Please explain to me. I see the passion in your response but can’t understand your point.
Try to not talk over my head. I’ve only been trading bonds for over 30 years so i’m still a little green in the world of finance.
“How many times ave Ted Cruz gone bankrupt and defaulted on repaying his loans?”
Bankrupt? None so far, it appears. It is a fair question as to whether or not his failed campaign may or may not result in his personal finances becoming insolvent like so many other candidates have done in the past. Printers have become leery about selling campaign matter on credit, because the political campaigns have all too often left the credit bills unpaid, while the candidate walked off with campaign donations and left the campaign insolvent and unable to pay the unpaid campaign debts.
Trump?
Bankrupt? None so far
Who is as good as his word? That remains to be seen. Ted Cruz has broken past campaign promises. Trump has not campaigned before, so it remains to be seen whether or not Trump will break campaign promises.
Who is better with money really?
Hands down Donald C. Trump “is better with money.”
“You only get a bankruptcy ruling when you have so screwed the pooch on a deal beyond repair.”
That has nothing to do with Trump, because he has never declared bankruptcy.
If trump owes millions to a bank, the bank owns him.
If trump owes billions to a bank, he owns the bank.
Well, you know what they say. When you owe the bank millions they own you, but when you owe them billions you own them.
Two simple questions:
Has Trump or businesses he controls ever defaulted on a loan?
Has Cruz or businesses he controls ever defaulted on a loan?
Big big difference between defaulting on loans and not defaulting. Tell us how Trumps collateralized loans kept investors from losing money because they trusted the Donald.
Not to worry for the Donald; he’ll just declare bankruptcy again and pay only a fraction back, if any. Ooops! I forgot. I don’t think they’ll let him declare bankruptcy anymore.
More ignorance and lies from the Teddy Bare Brigade. Donald Trump has NEVER filed for bankruptcy. Do your homework. Most of us aren't invested in the lies and smears from your smarmy lawyer guy. We know the truth.
I doubt he is going to lose any sleep over you poor Teddy Bares... I am positive that i won't!!!
He filed for business bankruptcy four times. A great way to shaft one’s creditors.
I have not seen this much fanacticism since I witnessed the followers of Obama back in 2008. Trump is the Republican Obama and you fellows are the Independent or Republican equivalent of Obama supporters.
There is no God but conservatism and Ted Cruz is the prophet.
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