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, Id 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 couples decision to pump more than $1 million into Mr. Cruzs 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 partys 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®ion=top-news&WT.nav=top-news
Re-posted to correct link
2naSalit
(86,502 posts)LiberalArkie
(15,705 posts)dixiegrrrrl
(60,010 posts)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?
TexasBushwhacker
(20,159 posts)Because then it isn't a loan.
get the red out
(13,460 posts)imagine if this was a Democrat. There won't be much that comes out of this.
yeoman6987
(14,449 posts)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.
beac
(9,992 posts)tomorrow evening.
get the red out
(13,460 posts)He is terrifying to me!
Kingofalldems
(38,440 posts)Liberal_in_LA
(44,397 posts)niyad
(113,205 posts)joe_stampingbull
(165 posts)Hoping....
Kingofalldems
(38,440 posts)Babel_17
(5,400 posts)lol
rtracey
(2,062 posts)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....
hedgehog
(36,286 posts)tabasco
(22,974 posts)Republicans love liars.