{"id":30286,"date":"2016-02-04T11:10:20","date_gmt":"2016-02-04T15:10:20","guid":{"rendered":"https:\/\/stateofthenation2012.com\/?p=30286"},"modified":"2016-02-04T11:10:20","modified_gmt":"2016-02-04T15:10:20","slug":"why-senator-cruz-undisclosed-goldman-loan-is-a-real-problem","status":"publish","type":"post","link":"https:\/\/stateofthenation2012.com\/?p=30286","title":{"rendered":"Why Senator Cruz&#8217; Undisclosed Goldman Loan Is A Real Problem"},"content":{"rendered":"<p><!--more-->ZeroHedge.com<\/p>\n<div class=\"content\">\n<p class=\"qualified qualified-1\">The recent revelation that Republican hopeful <strong>Ted Cruz<\/strong> failed to disclose a 2012 $1 million loan from the Wall Street investment bank, Goldman Sachs, raises legitimate legal concerns, and could spell trouble for the presidential hopeful.<a href=\"http:\/\/www.mediaite.com\/online\/ted-cruzs-failure-to-disclose-wall-street-loan-is-a-real-legal-problem\/\"><em> As Mediaite.com&#8217;s Rachel Stockman reports (via LawNewz.com),<\/em><\/a><\/p>\n<blockquote>\n<div class=\"quote_start\"><\/div>\n<div class=\"quote_end\"><\/div>\n<p><em><a href=\"http:\/\/www.mediaite.com\/tv\/cruz-addresses-nyt-report-that-he-didnt-disclose-goldman-sachs-loan-for-12-campaign\/\">The New York Times<\/a> <\/em>first reported that campaign disclosure reports show that before a scheduled run-off in the May 2012 senatorial election, Cruz received a low-interest loan from his wife\u2019s bank, which his campaign committee never reported to the Federal Election Commission.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>The Cruz camp is brushing this all\u00a0off as a BIG oversight<\/strong>. \u00a0Cruz promised to immediately amend the filing if there were any problems. The Texas Senator said that he and his wife put their liquid net worth into the campaign and the loans in question were \u201cdisclosed over and over and over again.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>That\u2019s great\u00a0but here\u2019s the problem: <u><strong>what he did could still be a violation of federal law.<\/strong><\/u><\/p><\/blockquote>\n<p>Here is what Cruz told CNN last night:<\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/XC1cEONKXig\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><em><strong>\u201cThe fact that the information was out there somewhere doesn\u2019t negate the fact that it wasn\u2019t disclosed on the candidate\u2019s campaign disclosure\u2026 that\u2019s a violation of federal law,\u201d<\/strong><\/em> <strong>Paul Ryan<\/strong>with The Campaign Legal Center told LawNewz.com.\u00a0 The group is a nonpartisan, and goes after Republicans and Democrats alike for campaign finance violations.<\/p>\n<p>To be clear, here\u2019s the federal\u00a0law that Cruz may have violated:<\/p>\n<blockquote>\n<div class=\"quote_start\"><\/div>\n<div class=\"quote_end\"><\/div>\n<p>52 USC 30104 (b)(2) (6) requires the committee of a federal candidate to disclose on a report filed \u201cloans made by or guaranteed by the candidate\u201d and 52 USC 30104(b)(4)(d) requires the reporting of \u201crepayment of loans made by or guaranteed by the candidate\u201d<\/p><\/blockquote>\n<p><u><strong>So the question is, what can happen next? <\/strong><\/u>Clearly someone will have to file an official complaint (I have no doubt that will happen). If they do, the FEC could impose fines.<\/p>\n<p><strong>The real problem for Cruz is if evidence somehow\u00a0emerges that this was \u2018knowing and willful.\u2019<\/strong>If that could be demonstrated, then Cruz could potentially be prosecuted criminally by the U.S. Department of Justice, according to campaign finance experts. Cruz insists that it\u2019s not.<\/p>\n<p><em><strong>\u201cThe bottom line \u2013 any money that is obtained or received to fund a campaign needs to be reported,\u201d<\/strong><\/em> Ryan said.<\/p>\n<p><a href=\"http:\/\/www.theburningplatform.com\/2016\/01\/15\/trump-v-cruz-goldman-sachs\/\"><em>As Martin Armstrong concludes,<\/em><\/a><\/p>\n<blockquote>\n<div class=\"quote_start\"><\/div>\n<div class=\"quote_end\"><\/div>\n<p><strong>The dishonesty here is that Cruz has pretended to stand against the bankers.\u00a0<\/strong>\u201cLike many other players on Wall Street and big business, they seek out and get special favors from government,\u201d\u00a0Cruz told the New York Times\u00a0previously. How dishonest is this statement and then forgetting to report a loan from Goldman Sachs? His wife\u00a0Heidi, is a\u00a0<a href=\"http:\/\/heavy.com\/news\/2016\/01\/ted-cruz-wife-heidi-nelson-works-for-goldman-sachs-loan-senate-campaign-salary-bio-leave-linkedin-college-net-worth\/\">managing director at Goldman Sachs<\/a>\u00a0and has taken a temporary\u00a0\u201cleave\u201dduring his presidential campaign.<\/p>\n<p>&nbsp;<\/p>\n<p><u><strong>I am sorry. But Cruz is bought and paid for and would be in the pocket of the New York Banks no different than Hillary, Bush, or the rest of them who take money from this crowd. <\/strong><\/u><em>You do not forget to report a loan from Goldman Sachs when your\u00a0wife is a managing director. Come on. How stupid do we have to be to entertain this excuse?<\/em><\/p><\/blockquote>\n<p>___<br \/>\n<a href=\"http:\/\/www.zerohedge.com\/news\/2016-01-15\/why-senator-cruz-undisclosed-goldman-loan-real-problem\">http:\/\/www.zerohedge.com\/news\/2016-01-15\/why-senator-cruz-undisclosed-goldman-loan-real-problem<\/a><\/p>\n<\/div>\n<div class=\"js-links\">\n<div class=\"js-l1\"><\/div>\n<\/div>\n<div class=\"js-l1\"><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-30286","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/posts\/30286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30286"}],"version-history":[{"count":0,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/posts\/30286\/revisions"}],"wp:attachment":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}