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DebbieCDC

(2,543 posts)
Wed Jan 13, 2016, 08:29 PM Jan 2016

Ted Cruz Didn't Disclose Loan from Goldman Sachs for his First Senate Campaign

Source: New York Times

As Ted Cruz tells it, the story of how he financed his upstart campaign for the United States Senate four years ago is an endearing example of loyalty and shared sacrifice between a married couple.

“Sweetheart, I’d like us to liquidate our entire net worth, liquid net worth, and put it into the campaign,” he says he told his wife, Heidi, who readily agreed.

But the couple’s decision to pump more than $1 million into Mr. Cruz’s successful Tea Party-darling Senate bid in Texas was made easier by a large loan from Goldman Sachs, where Mrs. Cruz works. That loan was not disclosed in campaign finance reports.

Those reports show that in the critical weeks before the May 2012 Republican primary, Mr. Cruz — currently a leading contender for his party’s presidential nomination — put “personal funds” totaling $960,000 into his Senate campaign. Two months later, shortly before a scheduled runoff election, he added more, bringing the total to $1.2 million — “which is all we had saved,” as Mr. Cruz described it in an interview with The New York Times several years ago.

Read more: http://www.nytimes.com/2016/01/14/us/politics/ted-cruz-wall-street-loan-senate-bid-2012.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news



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Ted Cruz Didn't Disclose Loan from Goldman Sachs for his First Senate Campaign (Original Post) DebbieCDC Jan 2016 OP
K&R 2naSalit Jan 2016 #1
Oh yeah, I really believed the put their own money in the race, sure I do. LiberalArkie Jan 2016 #2
So he gets a low interest loan from the TBTF bank his wife works for...and does not report the deal dixiegrrrrl Jan 2016 #3
I wonder if he's paid the money back TexasBushwhacker Jan 2016 #15
IOKIYAR get the red out Jan 2016 #4
Typically you are right yeoman6987 Jan 2016 #7
Me too (the hating) thus.... beac Jan 2016 #11
I hate him too get the red out Jan 2016 #13
Looks like a Special Prosecutor needed on this one. Kingofalldems Jan 2016 #5
kick Liberal_in_LA Jan 2016 #6
and, just like the bundy cowliphate, absolutely nothing will happen to this reichwing darling. niyad Jan 2016 #8
Any chance he can be punished by the courts? joe_stampingbull Jan 2016 #9
Kick. Kingofalldems Jan 2016 #10
Maybe Rubio will give him a pass Babel_17 Jan 2016 #12
what makes me laugh rtracey Jan 2016 #14
K&R hedgehog Jan 2016 #16
Watch him go up in the polls tabasco Jan 2016 #17

dixiegrrrrl

(60,010 posts)
3. So he gets a low interest loan from the TBTF bank his wife works for...and does not report the deal
Wed Jan 13, 2016, 08:44 PM
Jan 2016

That's an interesting "oversight".

From the article...
“The law says if you get a loan for the purpose of funding a campaign, you have to show the original source of the loan,
the terms of the loan and you even have to provide a copy of the loan document to the Federal Election Commission.”

Now what ever could be in those loan papers that he does not want to share with the voters?

 

yeoman6987

(14,449 posts)
7. Typically you are right
Wed Jan 13, 2016, 10:34 PM
Jan 2016

But tomorrow night is another Repug debate. It will be announced by trump and Rubio for sure. Cruz's timing sucks for him and I couldn't be more thrilled. I literally hate Cruz.

 

rtracey

(2,062 posts)
14. what makes me laugh
Thu Jan 14, 2016, 10:09 AM
Jan 2016

Is the fact that 1. he did not disclose it, so he violated election laws, but the big one is....
2. how he rails against the Obama administration for being "in bed" with Sachs, and how the tea-party darling Cruz, drums up votes by campaigning against it, yet takes their money.

I think this is going to cost him big....

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