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Ted Cruz failed to disclose a loan from Goldman Sachs for his 1st Senate campaign

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B

BlueTsunami

there is joy in sucking dick
DragonSworne said:
Maybe he should be spanked like his daughter.
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doiz2wQ.jpg
 
E

E92 M3

Member
You forgot to put shocking news in the title ;)

One of the things I like about Trump is that he's a billionaire and doesn't any hidden loans from shady banks.
 
L

Lucky Forward

Member
http://www.dailykos.com/story/2016/...ldman-Sachs-that-boosted-his-first-Senate-bid

And, explains former FEC attorney Kenneth Gross, that’s a serious problem:

“They’re two different reporting regimes. 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.”

In other words, reporting the loans on his Senate disclosures at some later date didn’t and can’t fix the fact that Cruz failed to report the loans on his FEC reports at the time they were made—something the campaign claims was “inadvertent.”

But you can ask yourself: Does it seem more likely that Cruz was just careless and “forgot” he’d taken out huge sums from Goldman and Citibank—money he badly needed, seeing as his GOP primary opponent, Lt. Gov. David Dewhurst, was busy spending $24 million of his own money on the race? Or did Cruz, a fire-breathing tea partier who constantly railed against the Wall Street bailout on the campaign trail, have a reason for not wanting to tell the public that he’d borrowed money from some of the very same entities that had just destroyed the economy?
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C

Culex

Banned
If true, that fact that he took wall street money to finance his campaign, whilst running a platform decrying wall street influence is quite ironic!
 
C

commedieu

Banned
http://www.politico.com/story/2016/01/cruz-campaign-goldman-sachs-loan-push-back-217743

Cruz pushes back on report of undisclosed Goldman Sachs loan
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"Those reports show that in the critical weeks before the May 2012 Republican primary, Mr. Cruz ... 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."
Both Cruz and his spokeswoman, Catherine Frazier, denied any wrongdoing on Cruz's part Wednesday night.
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etc...etc.
 
P

Prologue

Member
Are you suppose to be taking out loans for a campaign? I don't know, it seems odd lol, at least that much ,damm. 500k? Go work a real job.
 
Y

Y2Kev

TLG Fan Caretaker Est. 2009
Trump: Did anyone see the loan that Ted Cruz got from the big banks? I don't know, I haven't heard about it. I just saw it on the TV on the way over. Anyway, he took this YUGE loan and then he bashed them-- he BASHED them. Lloyd Blankfein is probably reading this and going, "Oh, brother." Anyway, so he took the...he took the loan...what? I love you people. Turn the cameras around. Turn them around. Look at the hat this guy has on. Yes, it's fabulous. What does it say?

*Crowd responds MAKE AMERICA GREAT AGAIN*

I love you people. And you people love me. Anyway, so he took the loan and I heard he LIED about it on his taxes and then he DEFAULTED on it. I mean, I heard that. I don't know, it's what the papers are saying. Ted, I said, Ted, Ted, you got to get this stuff in order. You and Rubio. Rubio that guy. He doesn't even know how to balance his checkbook. *flails around* That's Jeb for you.
 
S

Suikoguy

I whinny my fervor lowly, for his length is not as great as those of the Hylian war stallions
Y2Kev said:
Trump: Did anyone see the loan that Ted Cruz got from the big banks? I don't know, I haven't heard about it. I just saw it on the TV on the way over. Anyway, he took this YUGE loan and then he bashed them-- he BASHED them. Lloyd Blankfein is probably reading this and going, "Oh, brother." Anyway, so he took the...he took the loan...what? I love you people. Turn the cameras around. Turn them around. Look at the hat this guy has on. Yes, it's fabulous. What does it say?

*Crowd responds MAKE AMERICA GREAT AGAIN*

I love you people. And you people love me. Anyway, so he took the loan and I heard he LIED about it on his taxes and then he DEFAULTED on it. I mean, I heard that. I don't know, it's what the papers are saying. Ted, I said, Ted, Ted, you got to get this stuff in order. You and Rubio. Rubio that guy. He doesn't even know how to balance his checkbook. *flails around* That's Jeb for you.
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Have you been studying this?

https://www.youtube.com/watch?v=_aFo_BV-UzI
 
H

HylianTom

Banned
commedieu said:
i feel ashamed that I'm really looking forward to Trumps response.
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In the "What new TV shows are you watching in 2016?" thread, I was tempted for half a second to respond, "none. I'm watching the nightly Trump show."

He's hysterical and talented and scary, all at the same time.
 
D

Damaniel

Banned
XenodudeX said:
Isn't that.. illegal?
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Prologue said:
Are you suppose to be taking out loans for a campaign? I don't know, it seems odd lol, at least that much ,damm. 500k? Go work a real job.
Click to expand...

No, taking out loans for a campaign is fine, as long as you disclose it to the FEC. Personally, I think it's a stupid idea to borrow money to finance a political run, but then again I'm not Ted Cruz (thank god).

There's a good chance that Trump is going to destroy him tomorrow. Between the birther 2.0 thing and this (neither of which is very likely to affect Cruz' eligibility to run), Trump will have a field day.
 
T

Tom_Cody

Member
I don't see this as a long term issue, but it will definitely gum up his press coverage for the next few days. The loan was a standard margin loan. There is no indication that this would in any way represent special treatment for him. This is in keeping with his personal narrative that he spent his own money on his campaign.

Also, as noted in the article, he had already publicly disclosed the loan and it has appeared in press reports going back to 2013.
http://blogs.rollcall.com/moneyline...alf-million-asset-that-may-not-be-obtainable/

There is a small chance that he would have to pay a fine but, generally speaking, this is January-surprise reporting. The real issue for him is that there is a debate tonight and he will get hammered for this today and tonight

The meta-joke regarding Trump here is that Trump has financed his real estate business with loans from big banks, and he has already had to defend himself regarding this issue in his campaign. Still, somehow I doubt he will be phased in attacking Cruz over this issue.
 
T

TheOMan

Tagged as I see fit
Y2Kev said:
Trump: Did anyone see the loan that Ted Cruz got from the big banks? I don't know, I haven't heard about it. I just saw it on the TV on the way over. Anyway, he took this YUGE loan and then he bashed them-- he BASHED them. Lloyd Blankfein is probably reading this and going, "Oh, brother." Anyway, so he took the...he took the loan...what? I love you people. Turn the cameras around. Turn them around. Look at the hat this guy has on. Yes, it's fabulous. What does it say?

*Crowd responds MAKE AMERICA GREAT AGAIN*

I love you people. And you people love me. Anyway, so he took the loan and I heard he LIED about it on his taxes and then he DEFAULTED on it. I mean, I heard that. I don't know, it's what the papers are saying. Ted, I said, Ted, Ted, you got to get this stuff in order. You and Rubio. Rubio that guy. He doesn't even know how to balance his checkbook. *flails around* That's Jeb for you.
Click to expand...

This is perfect.

The camera part was a nice touch.
 
IrishNinja

IrishNinja

Member
Y2Kev said:
Trump: Did anyone see the loan that Ted Cruz got from the big banks? I don't know, I haven't heard about it. I just saw it on the TV on the way over. Anyway, he took this YUGE loan and then he bashed them-- he BASHED them. Lloyd Blankfein is probably reading this and going, "Oh, brother." Anyway, so he took the...he took the loan...what? I love you people. Turn the cameras around. Turn them around. Look at the hat this guy has on. Yes, it's fabulous. What does it say?

*Crowd responds MAKE AMERICA GREAT AGAIN*

I love you people. And you people love me. Anyway, so he took the loan and I heard he LIED about it on his taxes and then he DEFAULTED on it. I mean, I heard that. I don't know, it's what the papers are saying. Ted, I said, Ted, Ted, you got to get this stuff in order. You and Rubio. Rubio that guy. He doesn't even know how to balance his checkbook. *flails around* That's Jeb for you.
Click to expand...

it's like it already happened
 
M

Mattenth

Member
Are there any serious legal implications behind all this? I get that it's shady as hell, but is this something that could seriously jeopardize his spot in the short term?
 
Raven117

Raven117

Member
I mean....

Im not sure if this sinks the ship or anything. Who knows anymore?

After this primary dealing with the Republicans...I thought I knew politics a little bit, but I clearly don't.
 
R

ReAxion

Member
Damaniel said:
No, taking out loans for a campaign is fine, as long as you disclose it to the FEC. Personally, I think it's a stupid idea to borrow money to finance a political run, but then again I'm not Ted Cruz (thank god).
Click to expand...

If it'll push the likelihood of you being elected, it's a good move. Borrow money, get cozy with whatever industry you're supposed to regulate, have a job after office, publish a book, etc.
 
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