Author Topic: Cruz Addresses NYT Report That He Didn’t Disclose Goldman Sachs Loan for ’12 Campaign (UPDATED)  (Read 1742 times)

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Online mystery-ak

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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

Ted Cruz Didn’t Disclose Loan From Goldman Sachs for His First Senate Campaign

By MIKE McINTIREJAN. 13, 2016

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.

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NYT and Dems are wetting themselves with glee about now.
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Offline alicewonders

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I wonder how long the NYT has been sitting on that little tidbit.

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Offline Sanguine

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Assuming it's true.  We question negative stuff about Trump; we should accord the same respect to Cruz.

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Assuming it's true.  We question negative stuff about Trump; we should accord the same respect to Cruz.
Exactly, and who is the candidate who's always harping about how he can't supposedly be bought, is based in New York City and has staff that specializes in smear campaigns?

This dirt goes right back to Trump.
« Last Edit: January 14, 2016, 03:10:32 am by jmyrlefuller »
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Offline alicewonders

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Assuming it's true.  We question negative stuff about Trump; we should accord the same respect to Cruz.

I agree Sanguine.  For all I know, this might have been something to do with Cruz's wife's benefit package or something - the money could have come from her, but maybe it was set up as a loan.  I will wait until I hear Ted's explanation before I pass judgment. 

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Offline Sanguine

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« Last Edit: January 14, 2016, 06:32:56 pm by Sanguine »

Offline truth_seeker

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Update - he did disclose it.

http://www.mediaite.com/tv/cruz-addresses-nyt-report-that-he-didnt-disclose-goldman-sachs-loan-for-12-campaign/


The part highlighted in red is for $100,000-250,000 NOT for over $1,000,000.

The Cruz campaign have already admitted is was an error, and that a revised report will be submitted if necessary.
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I'm sure NYT will admit they overreacted.
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Offline alicewonders

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That's good to know, thanks Sanguine!  I knew Cruz wasn't stupid enough to do something like that.  I would posit that this was far more likely to be something that came from the GOPe rather than Trump.  I have not heard Trump tell lies to further his campaign.  The GOPe?  Wouldn't put anything past them!

Paging Karl Rove.  Paging Karl Rove.

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That's good to know, thanks Sanguine!  I knew Cruz wasn't stupid enough to do something like that.  I would posit that this was far more likely to be something that came from the GOPe rather than Trump.  I have not heard Trump tell lies to further his campaign.  The GOPe?  Wouldn't put anything past them!

Paging Karl Rove.  Paging Karl Rove.

The inside the beltway party is SCARED SPITLESS of Ted Cruz!
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Offline ABX

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Update - he did disclose it.

http://www.mediaite.com/tv/cruz-addresses-nyt-report-that-he-didnt-disclose-goldman-sachs-loan-for-12-campaign/



Beat me to it. Several sources have challenged the NY on this. He had multiple line item disclosures on these reports from GS.  But because the NYT said otherwise despite being right there there in black and white, both sides are running with it.

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Cruz Addresses NYT Report That He Didn’t Disclose Goldman Sachs Loan for ’12 Campaign (UPDATED)
by Josh Feldman | 10:00 pm, January 13th, 2016
video 361

cruzA New York Times report tonight says that Ted Cruz not only received a low-interest loan from Goldman Sachs––where Cruz’s wife works––for his 2012 Senate campaign, but he failed to disclose it.

The Times reports the loan––along with another Citibank loan––did not appear in Cruz’s FEC filing. A Cruz spokeswoman acknowledged they did receive a loan, but the failure to report it was “inadvertent” and the campaign would be taking care of it immediately.

Tonight CNN’s Dana Bash asked Cruz about getting the loan to fund his campaign. Cruz responded, “The premise of your question is not right.”

He said that he and his wife put their liquid net worth into the campaign and the loans in question were “disclosed over and over and over again.”

Cruz said if something was wrong, he will “amend the filings,” but insisted “all of the information has been public and transparent for many years, and that’s the end of that.”

UPDATE –– 10:25 pm EST: Following the release of the Times report, people uncovered the following document on which Cruz did, in fact, disclose the loan:

Watch above, via CNN.

http://www.mediaite.com/tv/cruz-addresses-nyt-report-that-he-didnt-disclose-goldman-sachs-loan-for-12-campaign/
« Last Edit: January 15, 2016, 03:55:42 pm by rangerrebew »

Offline flowers

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http://www.nytimes.com/2016/01/16/us/politics/ted-cruz-failed-to-report-a-second-campaign-loan-in-2012.html?smid=tw-nytpolitics&smtyp=cur&_r=1

Quote
The Republican presidential candidate Ted Cruz, already facing scrutiny for not disclosing a Goldman Sachs loan he used for his 2012 Senate campaign, also failed to disclose a second loan, from Citibank, for the same race, according to a letter he sent Thursday to federal election officials.

The one-page letter said that the “underlying source” of money for a series of personal loans Mr. Cruz made to his Senate campaign in Texas included both bank loans, which totaled as much as $1 million. Both loans were “inadvertently omitted” from the required filings, the letter said. Previously, Mr. Cruz has only acknowledged using the loan from Goldman for his campaign.