Kudos to Occupy Demcorats for joinign other media in reprtoin on Ted Cruz's clear case of "Wall Street Chronism."
Posted here with Permission. Visit Occupy Democrats....I do!
“Sweetheart, I’d like us to liquidate our entire net worth, liquid net worth, and put it into the campaign, who readily agreed.”
“[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.”
“A review of personal financial disclosures that Mr. Cruz filed later with the Senate does not find a liquidation of assets…What it does show, however, is that in the first half of 2012, Ted and Heidi Cruz obtained the low-interest loan from Goldman Sachs, as well as another one from Citibank. The loans totaled as much as $750,000 and eventually increased to a maximum of $1 million before being paid down later that year. There is no explanation of their purpose (my emphasis)”
“The failure to report the Goldman Sachs loan, for as much as $500,000, was inadvertent…there had been no attempt to hide anything…These transactions have been reported in one way or another on his many public financial disclosures and the Senate campaign’s F.E.C. filings.”