Ted Cruz Didn’t Report Goldman Sachs Loan in a Senate Race

As Mr. Cruz tells it, loyalty and sacrifice helped finance his 2012 Senate bid in Texas. Turns out, a Goldman Sachs loan did as well.

Comments: 273

  1. The real question is what Goldman-Sachs gets for the money -- they ain't a charity.

  2. Well for starters they probably got interest payments.

  3. Citibank was another of Cruz's lenders and they're not a charity either.

  4. Nothing. There is nothing political about borrowing using securities in a brokerage account as collateral. Anyone with a stock portfolio can do it, though most who do so live to regret it.

  5. Just hope loan was not in Canadian dollars.

  6. Perfect!

  7. Are they suggesting that Mr. Cruz is just another puppet politician bought and paid for by corperate America?!? And that he hid that fact so that his low brow (just gimme my guns!) support might figure out (ha!) that he might have another agenda????

    Shocking!

  8. Hillary and Cruz are in the same boat, trump and sanders looks good

  9. Sorry, but it's Trump and Cruz who are in the same boat. And it's sinking fast.

  10. I love how he tries to play the act he isn't part of the "establishment" even though he is Princeton and Harvard educated and married to a Wall Streeter. Plus he's a senator. You seriously do not get more establishment than that people.

  11. jesse - Sure you do; you leave out the part where he clerked for SCOTUS Chief Justice Rehnquist, and is the loooooooongest serving Solicitor General in Texas history :)

  12. And a millionaire.

  13. @Jesse

    I don't like this guy, but is the "establishment" anyway?

    Going to the most competitive colleges in the country? Is that now considered an "Uncle Tom" move by Liberals, selling out?

    His wife works for the wealth management division at Goldman. They are paid commensurate with industry practice, but they are not "banksters" nor are they "hedge fund" managers. It is considered the lower rung within the firm, and the people in that group are very smart but hardly considered overpaid by industry or standards of most ambitious people.

    This is a couple with $1 million in savings after having two incomes firing for 10-20 years. The Progressive dream was to put two wage-earners in the workforce, so don't be so surprised when that yields the opportunity for one of those spouses to effectively "save" their entire earnings.

    Calling his wife a "Wall Streeter" is childish.

    As I said, I don't like this candidate; but I also don't like demagogues; and your comments sound like naive attacks against two people who obviously possess intelligence and drive, two things that used to be valued in this country.

  14. 'The failure to report the Goldman Sachs loan, for as much as $500,000, was “inadvertent.”'

    That is mendacity at its purest form.

    Can we -- right and left -- finally stop pretenting these playthings of the oligarchy are genuine candidates?

  15. I'd like to have seen what Claude Rains would have done with that line.

  16. The loan was made against assets held and has been paid back. Who owns him in this case?

  17. No.

  18. The firebrand renegade Tea Party supported Ted Cruz is Wall Street establishment after all! KA

  19. Perfect timing to show the shenanigans of Cruz who selfishly and arrogantly closed our government in 2014!

  20. The government shuts down every weekend and on holidays with no ill effects on the country. I think we'll survive a few days. Oh yeah, we did survive. Whew, that was close.

  21. Dan, you are obviously not one of those people who suffered a loss of income, or one of the states that had to pull together emergency funding to keep a national park and other revenue-generating federal programs "open".

  22. @Dan: And when the government shuts down and then reopens some weeks later a few million staff members are paid their salaries retroactively- for work that they didn't get to perform. Guess whose taxes are paying for that?

  23. Well, now the junior senator must pay the price for not being nice to the rest of his party, as some very powerful forces seem to be targeting him. Karma, baby.

  24. Oh yes, karma! Oh yes!!

  25. Karma is our friend.

  26. Time to drop the ruse, Mr. Cruz, of pretending that you represent and are funded by anything other than "the elite." You pretend to be salt-of-the-earth, but a basic look shows that you attended two prestigious universities and are married to the 1%. Enough!

  27. It is also the time to drop the ruse that Cruz is eligible to run for the office of POTUS. The Constitution states without equivocation that a person who can become POTUS MUST be born in the United States.

    Because of Cruz's birthplace and parentage he is clearly not able to become POTUS.

    Cruz, drop out of the race before we arrest you for illegal representation. Save yourself and your family from the embarrassment of an arrest that would be a complete fail for your campaign.

    Just show up at the Federal Prosecutors office and they'll try their best to quell the ensuing "troubles.'

  28. Actually Jack, although I despise Cruz, I think you may be wrong here.

    "The Constitution gives three eligibility requirements to be president: one must be 35 years of age, a resident "within the United States" for 14 years, and a "natural born Citizen," a term not defined in the Constitution."

    The Congressional Research Service says, "The weight of legal and historical authority indicates that the term 'natural born' citizen would mean a person who is entitled to U.S. citizenship 'by birth' or 'at birth,' either by being born 'in' the United States and under its jurisdiction, even those born to alien parents; by being born abroad to U.S. citizen-parents; or by being born in other situations meeting legal requirements for U.S. citizenship 'at birth.'

    http://www.fas.org/sgp/crs/misc/R42097.pdf

  29. Ah not the 1% more like the ¼%

  30. I'm less alarmed by the source of the loan as I am by the idea that they viewed his campaign as a personal investment for them.

    If they put their life savings into his campaign (either by selling investments or pledging them as collateral for a loan) I want to know what their expectations are for the return on their investment?

    If it's a bridge loan, to address a cash flow problem and they fully expect it to be repaid by the campaign (win or lose) then it's much ado about nothing.

    If, however, their personal money was at-risk, and they put their life savings into a long-shot campaign, then they are obviously motivate by more than their love of apple pie and the flag.

  31. The lack of reporting the loans (one from Goldman, no less!) is not 'much ado about nothing'.

  32. Willing to bet my paycheck the GS loan was paid off the TX Republican Party or one if its benefactors. You wanna take the other side of that bet?

  33. Excellent observation. We may now all learn the mechanism the banks/parties/deep state uses to keep their guy in the Big Chair.

  34. I am shocked, shocked I say, to discover that Ted Cruz's personal ethics are, shall we say, flexible when it comes to financial matters. As a man of the people, just like all the rest of us who went to Princeton and whose wives work for Wall Street megabanks, its not any surprise to find that such a person could obtain a six-figure loan for a long-shot political campaign. Certainly there's not a shred of value in suggesting that this man might not have any concept of what it would be like to be, shall we say, 'middle class'? As a man of the people I think Ted fails the test, even without consideration of his basic vitrolic smarmyness... I'd believe it if he said he got the cash by selling his soul to the devil, however owning up to that is far more honesty than I ever expect to hear from him.

  35. Didn't you hear, it was "inadvertent". 500K is inadvertent.

  36. Maybe the financial whiz Rubio advised the Cruz senate campaign.

  37. Definitely not a fan of Trump or his tactics, but I can't help but chuckle when I see him make those boys squirm. Tomorrow's debate should be entertaining, especially since it is a financially focused event. I'm sure the D is salivating right now.

  38. There's plenty of ammo for Trump to use, should he decide to go after Ted, but it remains to be seen if he will. He might explore what, if any, expectation GS may have of benefiting from a relationship with a powerful politician, whose wife they employ and whose finances they've assisted. Being good corporate persons and ethical to boot, I'm sure they gave it no thought at all. It was probably just a technical oversight, a glitch, that caused that loan to languish unreported. No doubt he'll say he's sorry and promise to never do it again, until the next time he's caught.

  39. It just amazes me, they all lie and cheat and think they wont get caught, just forgot about that $500,000 loan.

  40. Awkward.

    He had a reason to hide big bank loans, one from GS. The publicity would have highlighted his connections to Wall Street, however innocent those connections may have been.

  41. He's a phoney in a real creepy way.

  42. And another "do as I say, not as I do" GOP'er. Nothing new here folks, move along.

  43. Ooops! Seems like Mr. Outsider has some friends on the inside after all.

  44. Yes, starting with his wife.

  45. Yes, he is married to a G-S Director…how about that for a conflict of interest?

  46. These friends gave him a margin loan. What part of that do you not understand? He had assets to cover the loan. He was given nothing...

  47. So the just plain folks patina of tail gunner Ted starts to glimmer a tad less.How many Ivy league educated lawyers claim to be the righteous and singular savior of just plain folks? Now, how many have a six figure line of credit from Goldman AND Citi? The candidate whose self importance was too big to fail.

  48. I'd like to understand too - how that loan got paid off so quickly... Because if you win the election... fine.... but how do you then have the funds to pay it all back so quickly? Particularly on a Senator's salary? Mr. Cruz time to drop out. Couldn't have happened to a less sincere candidate.

  49. I'd like to understand how "under 60 seconds" translates to "immediately"

    That's pretty sloppy thinking.

  50. That's an excellent question...how about a follow-up on that piece of the story, NYT?

  51. Not to worry. If elected, he'll make sure those pesky disclosure laws are eliminated so the Government won't interfere in his private lie, I mean, life...

    Just another well-connected, wealthy elite trying to pretend he's just a humble working guy.

  52. Maybe the Bundys should go to Washington and occupy the Senate, until they agree to get the oppressive federal government off of poor Ted's back! I mean, the FEC didn't even exist in 1776, so why should he have to comply with their tyrannical disclosure rules!

  53. He's carrying on right now, about how these have been disclosed over and over and over, yet for a million dollar a year law partner he must know the vital importance of detail, detail, detail.

    Cruz: "It is an inadvertent filing question. The facts of the underlying matter have been disclosed for many, many years."

    But just not at the time you were running for the Senate, Ted. Perry Mason would hang you out to dry on this and you know it.

  54. The loan was reported in 2012 and was made against assets held. All he has to do, which has been done thousands of times, is amend his disclosure statements.

  55. I always, inadvertently, forget to mention six figure loans from investment banks.

  56. How do you 'forget' 6 figure $$$? Convenient? when you don't want folks to know about it or it is illegal or flouts a law that you don't like? But he could make a big fuss about the budget and shut down the gov't.

  57. The loan was disclosed in 2012.There is no secret exposed here. He can amend his filings which is done all of the time.

  58. at 3%! Nice work if you don't have to work for it.

  59. He's such a legal genius, according to one peer - but this is either a boneheaded oversight or willful neglect in disclosure.

    Either way, it doesn't reflect well at all on Mr. Cruz' credibility.

  60. Million dollar per annum law partners don't make boneheaded oversights, either with their firms or in government positions.

    They are also totally aware of malfeasance acted in their name by subordinates.

    They also forget nothing (I don't recall...)

    But they claim all of these things when caught and are quite often successful.

  61. Plus they have well-paid campaign staffers who are supposed to double-check and triple-check this kind of stuff.

  62. Do our politics operate outside of the constraints of law? Is this law breaking or just some good old boys playing pranks on us. I think every time a low level drug offender is let out of prison a legislator or investment professional should go in.

  63. Politicians are, for the most part, exempt from obeying the law. It is very rare for any prosecutor to charge a politician with the crimes those politicians commit. Bribery, for example, is extremely common, but how often does anyone face the bar of justice for it? Lying on campaign forms, like Mr. Cruz did here, is also most likely pretty common. It's a crime, too, at least in some states, but partisan politics and the insider game always protects these mendacious, clownish hacks from accountability.

    Ted Cruz committed a crime. He should be charged, arrested, and tried for it. So should any politician that thinks they can lie about the financial support they receive, deceive the public, and make flimsy excuses about "forgetting."

  64. We will need more prisons.

  65. It can be treated as nothing less than willful deception - same goes for this Canadian Birth is OK, but Obama's birth by also an American Citizen mother isn't quite the same.

    It's not just beginning to smell like a fish, it's beginning to smell like a kettle of them. What else is lurking in that closet?

  66. Isn't this rich scofflaw the same Ted Cruz who advocates a regressive flat tax, further widening the gap between haves and have-nots? Some people are just beyond shame.

  67. There was clear intent to deceive his base of supporters.
    He knew very we'll that the Tea Party would not vote for a candidate that was being financed by Goldman Sachs or Citibank.
    His phony narrative blew-up in his face.

  68. I hope you are right.

  69. There's no smoke here. Most of us working folk know how easy it is to forget about a little half million dollar loan. Hey, he's human like the rest of us.

  70. True, jim, true. I mean just the other day I forgot about this $200,000 I own for my kids college education. Funny how those trivial 6 figure amounts slip your mind.

  71. What a phony. Runs a campaign criticizing Wall Street bailouts and big banks and is sleeping with them at the same time. No surprise there.

  72. literally sleeping with them!

  73. There is nothing honest or transparent about Ted Cruz. Never has been; never will be. People who support him just don't know who he is.

  74. What are the consequences of Mr. Cruz's "forgetfulness"? Does he face disbarment as a lawyer? A sanction from the Senate? An investigation into his ethics and other financial dealings? What are the consequences when someone purposefully defrauds the system? Against the large cash outlay of his opponent in the Texas race, his finances and the election results themselves look all the more suspicious.

  75. Thanks, NYT, for highlighting the real-time comments made by Ted and his presumably compliant wife:

    “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.

    “What astonished me, then and now, was Heidi within 60 seconds said, ‘Absolutely,’ with no hesitation,” Mr. Cruz said.

    So $750K of not very secured loans from Wall Street to the self-proclaimed man of the people aren't reported to FEC. And then the campaign claims these omissions were "inadvertent."

    Inadvertent. That's rich. Show me a flying elephant, or a notarized statement by Dr. Seuss. Then I'll believe.

    Or maybe not.

  76. What a sweet story! "Honey, let's liquidate everything, throw all our savings, all our-- what do they call it? liquidity?- into a crazy long-shot race for the Senate, even though I've NEVER run for elective office before, and the very conservative Lt. Governor, who has $24 million of his own funds to throw into the race, is seen as inevitable. I'll do the 'aw shucks' thing, be plain and humble (well, maybe not so humble), and run far, far to his right. Yeah, he's already way out there himself, but this is Texas, and I'll paint him as an effete, elite MODERATE. Maybe Goldman Sachs can help me out a bit." And she said YES! Heidi said YES! And the rest is history... unreported-on-financial-disclosure-forms history.

  77. Yeah, what a woman!

  78. I see Cruz as exhibit A in support of Trump’s assertion that politicians are too beholding to special interests to serve the best interests of the public.

    Goldman-Sachs was one of the companies that really worked to bring about the financial crisis. They were the ones who were pushing their clients into holding bad equity that they knew was bad, even as they staked out positions betting against their clients.

    It is not surprising that Cruz is linked to them or that he would hide from the public a loan such as it is while claiming to be a populist. And his attacks against Trump for coming from NY city, really make no sense with Cruz’s close ties to NY’s Goldman-Sachs the epicenter of the ‘greed’ is good’ mantra.

  79. Ted Cruz and Goldman Sachs? No big surprise. After all, sleazy is as sleazy does.

  80. He is a liar, beholden to Wall Street!

  81. Oops. Someone send the rescue team out to save Ted Cruz from his train wreck of a campaign.

  82. Bye Bye Ted.....this is exactly what makes the ordinary Joe hate politics and hate politicians. Lie, hide, always have an excuse.

    No one is prepared or qualified for the Whitehouse.

    Ted Cruz for president!? Why? and who will make this happen? corruption against the American tax payer.

  83. As to why Goldman Sachs would give a discount rate loan to fund Ted's election? It's a risk free investment, of course.

    Remember the Countrywide Discount Mortgage Program for VIP Officials?

    The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report.

    Verbatim: "The committe's investigation found Countrywide lobbyists and CEO Angelo Mozilo used discounted loans as a tool to ingratiate itself with policymakers in an effort to benefit the company's business interests."

    Countrywide CEO said in response to the scandal that "it was the purpose of the VIP program to establish relationships with borrowers who had the potential to influence policy, law and public image. I did believe that high-profile borrowers could enhance the company's public image."

    In another response, Mozilo says he "was proud to have people of prominence select Countrywide to be their lender of choice."

    This is why Bernie rejected contributions from banksters, big drug, big oil, and shady SuperPACs.

    Bernie is chopping the snake's head.

    And the media wonders why Bernie appeals to the American public?

  84. Exactly how many banks do you think were lining up to give Sanders loans or campaign contributions to reject? How people give him so much credit for rejecting something that is likely rarely offered to him is beyond me. If Sanders would reject the contributions of gun manufacturers, then I would be impressed because he certainly does their bidding, aka the Hyde amendment to hold them harmless from their intentionally destructive product.

  85. sleeve, how do you know the banks weren't lining up? And Bernie's position on guns is exactly the same as the President's. You can try and tar him because he's from a rural state where guns are part of the culture, but it won't wash.

  86. Cruz is an unpleasant, self-righteous, inflexible man, hated by no one so much as his fellow Republican senators, who would be an utter disaster in a position such as the Presidency where they ability to lead, not dictate, is the most important skill one can possess. This fundamental personality defect is far more worrisome than his failure to strictly comply with campaign finance laws.

  87. Despite all the laws they enact, these guys still play by their own rules.

  88. Good point. Neither Cruz nor Sanders has virtually any backing from their colleagues in Congress, Sanders after being there 26 years. No one likes a showboat who makes it all about themselves and what they can do all on their own, screaming everyone else is a crook. Being imminently powerful to change the entire system isn't possible in our current form of government unless the Canadian changes things by having his crazed finger on the button threatening to turn say the French, into Freedom Fries. I can't believe after watching the tar pit the presidency became under seditious Boehner and McConnell that people still believe that being president is an all powerful position if one doesn't have support in Congress. Trump is another lone wolf and we have seen that former "colleagues" can create a pointless morass where our legislature used to reside.

  89. To the extent that this information can help to keep him out of the White House, it is very important.

  90. If it was a run off election and his campaign was based on his endearing story of liquidating everything he owned, but wasn't true, he should be recalled.

    He can't just plead oops and move on if votes were swayed by his false folksy facade that violated the law.

    I wouldn't expect anything different, but think about the damage he has, and still does inflict upon the country and it all could have been avoided if he played by the rules.

  91. jmats - The problem is that our Constitution has a flaw, since we can't recall any jerk Senators or Representatives; until the next election, voters are stuck with the snake they elected, unless Congress votes to kick them out :(

    The Constitution needs amending to allow for recall of Senators/Representatives by the voters.

  92. I'm not a supporter, but when you take a loan against all of your liquid assets, all of your liquid assets are on the line. He took a huge risk with his personal wealth. The rest is semantics.

  93. Recall a politician from office for having lied in his campaign? There would be no one left in office.

  94. Ted Cruz is not an "anti-establishment" candidate.

    The GOP establishment and Wall Street is pulling the wool over the eyes of tea party conservatives (again). Ted is surrounded by Goldman Sachs. His wife, Goldman. His campaign chairman, Chad Sweet, former Goldman and co-founder of the Chertoff Group. And now evidence of the Goldman loans.

    Goldman has been incubating candidates for years. That's why Blankfein survived selling fraudulent CDO's and then, on top of that, shorting his own fraudulent products. Total fraud. Still CEO.

    Ted is part of the protection racket.

  95. A little "lawlessness" of your own, Ted? And this, on top of your ironically flexible interpretation of the Constitution when it comes to not being a "natural born" citizen of the United States, but rather one naturalized by mere birth to an American mother? You aren't eligible to be President, Mr. Cruz. The Constitution you so ardently praise precludes you. I now can see that your birther rants against President Obama were advance cover for your own far more serious birthplace issue. Clever man.

  96. ....except that almost all constitutional scholars agree that being born to an American mother *anywhere* makes one a "natural-born" citizen. It's just not an issue, although given Cruz's proclivities I sincerely wish it was.

  97. Being a creepy psychopathic lying sadist (taking great pains to keep a man in jail for 16 years for shoplifting) is really what disqualifies him. Despicable typical Republican hypocrite.

  98. Cruz and Ryan sure "married up" as they say. Plenty of investment banker bonuses from these ladies to keep the boys afloat until they retire from Congress and take their proper places as lobbyists.

  99. It fits in with Senator Cruz's personality. He's a liar. Not just a politician that spins the truth or even bends it--he just lies. He's probably the most narcissistic and cowardly person on capital hill.

    His personal insecurity as a foreigner in America and in among the elite class of people at Princeton probably helped him use his insecurities to manipulate people and be the amoral person he is.

    Sure, railing against the TARP bailouts to appeal to the poorly educated, angry people to get their votes is one thing, politics 101 but using your wife (like he used his children to try to politicize Christmas thus making a mockery of it) to get you at $500K loan from her job shows oodles about the type of person Cruz is--a scumbag.

    He has no class at all.

  100. Goldman Sachs doesn't seem like the kind of company that would expect any political favors from the president (as payback).

  101. What does the have to do with anything? These reporting laws are truly pointless in the face of the many ways to funnel money to campaigns without a trail. This is not the way a crook would do it under any circumstances. This is just a mistake. I think that Cruz is utterly unqualified to be a dog catcher, but you really have to be a partisan to think that this is a big deal.

  102. "These reporting laws are truly pointless in the face of the many ways to funnel money to campaigns without a trail."

    So, you are saying that since U.S. campaign financing is so corrupt anyway, there's no point in expecting a politician to comply with the existing laws? By the way, I do not buy the contention that this was "just a mistake." Cruz is a Harvard educated lawyer -- he knew what he was doing.

  103. How merciful of you.

    I doubt Cruz himself would show the same if the political shoe were on the other foot and being worn by a rival, or anybody else, for that matter, except his GS cronies.

    Read David Brooks column yesterday, particularly the first paragraphs, and you'll see what I'm getting at.

  104. If this had happened in the Clinton campaign, opponents would be calling for her to drop out of the race.

  105. i'm sure we don't understand how, but, as he has been urging evangelicals re his current campaign, the body of christ must have risen to help him out. (i did not know until i started reading some of the quotations from his campaign that at least some evangelicals refer to themselves as the body of christ?!)

  106. I find Cruz more and more repulsive! He's a Harvard-trained lawyer, for God's sake, and he claims, according to The Guardian, that he only learned he should have reported this from the NY Times reporter? The manis fundamentally deceitful. He's completely fabricated, for voter consumption, his pitch as a tea-party "outsider" - along with his loyal wife, ready to liquidate their worldly goods... When all along this wealthy couple is beholden to a loan from her employer and another financial institution.

    One has to ask: What is this man's hidden agenda in running for president? Because I do not believe one word that comes out if this man's mouth.

    He has got to be stopped!

    There's a reason the Founders of this nation insisted a President had to be Native Born. Too much is murky that's connected to Ted Cruz.

    Deceitful. That's my first and last impression of this man. A deceitful sociopath. Not the temperament we need in a president.

  107. I imagine we can find enough native born liars, but it does put the icing on the cake that he is absolutely nothing (or nearly so, I imagine he is in fact married) he claims to be.

  108. I rarely get to use the word "smarmy", but Senator Cruz provides lots of opportunities.

  109. I guess it's worth reporting (somehow seems like a misdemeanor in the world of politics and government) but the Times is overplaying it -- it's not corruption. What the Times should do a big number on is how Cruz is the most unpopular politician of either party, and for once the two parties are in agreement.

  110. You mean the Harvard educated populist got campaign support from Goldman Sacs and concealed it from the voters?

    What a surprise. How far can pandering to the dumb take one whose supped at the table of Eastern Elitism? Can one pose as a rube when one has a post graduate degree from Harvard?

  111. I guess the elites like the Cruzes get away with a lot more than the ordinary folks they claim to be like. How many Cruz supporters have such easy access to large sums of money. And shouldn't the darling of Evangelicals believe in honesty, instead of failing to disclose where his funding comes from?

  112. In Texas they say that the difference between a horse race and a political race is that in a horse race the whole horse runs. Proof is here. I doubt this will sway his supporters much.

  113. Read the Slate article "The Real Ted Cruz" to see how clever, evasive and devious Cruz was on immigration:
    http://www.slate.com/articles/news_and_politics/cover_story/2016/01/ted_...

    So Ted Cruz, Tea Party Darling, whose wife is an executive at Goldman Sachs, inadvertently omitted to mention a Glodman Sachs loan for about $500,000 during his campaign for Senator? The Cruz in the article could well have decided a Goldman Sachs loan might not look good for an Angry Populist and leave it out "inadvertently". Pure speculation on my part, I took a dislike to Cruz on sight. This will blow away.

    Of course if Cruz is the GOP candidate there'll be a lot of research into his banking connections.

  114. Mrs. Cruz, a former Managing Director at Goldman Sachs. Why was this company allowed to survive? And why were not their directors stripped of their personal assets?

  115. Survive? They have a farm team: Mrs. Cruz, Mrs. Christie, and Mrs. Paul were all Goldman Directors. I wonder how they all got those kind of jobs without degrees in finance? Must have been their shining personalities I guess.

  116. So much for being a truth-talkin' populist ready to give the Wall Street barons a talking to in the woodshed.

    Unfortunately most of his supporters, stupid slobs and yokels, won't understand this, or won't hear about this and will continue to support the filth that Cruz is.

  117. What Cruz has done since joining the Senate (like being the prime mover in shutting down the government and costing taxpayers billions in lost revenues and higher interest rates -- for nothing) is even worse than any unscrupulous behavior he may have engaged in to hide the sources of his campaign funding. Besides, recent Supreme Court rulings gutting campaign financing reforms, including Citizens United, have done away with transparency in electoral politics and made it OK for corporations to hide loans and contributions as they like.

  118. cu makes a mockery of democracy

    how can you call a system a democracy when it allows unlimited and secret money from any source in election campaigns

    its more a supermarket than a democracy

    this is where your insatiable lust for money has led you

    enjoy

  119. The cynics will say that nothing will come of this. The realists will say that nothing will come of this. The apathetic (if asked) will say that nothing will come of this. That is today's fateful convergence. We're all winners.
    .
    Can you imagine the state of Texas touching this with a ten-foot pole? Or the totally impotent, unprincipled Federal Election Commission? Politics is filthy stuff, and unfettered money will now buy any "elected" office. Bend over and get used to 21st century US electoral politics, folks.

  120. Maybe his Republican colleagues in the U.S. Senate, who don't like Mr. Cruz very much, could see their way clear to open disciplinary proceedings. I'm pretty sure this behavior violates Senate rules. Mr. Cruz could be sanctioned by his fellow U.S. Senators and that could, in theory, even rise to the level of expulsion.

  121. Ethics? Ted Cruz? Hardly. What will he get - a slap on the wrist? Please do not be fooled by this terrible excuse for a human being and waste a vote on him.

  122. We all know that lying is a common indication of character flaws in politicians and it would be easy to shrug and say "so what?" But Senator Cruz has tried to position himself as an avatar of Christianity, as a champion of morality, and as an advocate of "cleaning up" Washington, D.C.

    He clearly has a problem with honesty. Failing to report a loan of this magnitude is not a mistake. It is far more likely that it was a calculated omission, designed to advance another false impression: namely, that Mr. Cruz is independent of Wall Street influence. As such, his behavior was really a successful effort to defraud voters.

    This should be disqualifying to his Presidential campaign. The major newspapers and TV talking heads have so far proven unwilling to hold candidates' feet to the fire on much of anything, preferring access and the prospect of favors for their corporations and their bosses, but at some point one might expect that professional self-respect will kick in.

    Cruz already demonstrated that he's a pretty indecent guy by joking about committing violence against women and children. He's already shown that he lacks compassion by proclaiming an intent to nuke the Middle East ("turn the sand into glass") and by "carpet bombing" that region. Now he's just reached the trifecta and broadcast his utterly untrustworthy nature.

    Let's hope America is paying attention.

  123. Let's make SURE America is paying attention, CastleMan. Let's forward this article to everyone we know and post it on facebook and other social media. WE need to get the word out every time we hear of something like this to restore democracy in America.

  124. Let's hope so. To the million of persons who know global climate change is a very serious threat to the world, be sure to understand that Cruz has purposely distorted the science, implied over and over that warming has stopped and attached people who are fighting to help stop climate warming.

    We know therefore that he lacks character, critical thinking or both and is protecting certain corporations and right wing philosophies. Sound familiar?

    In a finding that could have implications for the 2016 presidential campaign, polls have found that two-thirds of Americans said they were more likely to vote for political candidates who campaign on fighting climate change. They were less likely to vote for candidates who questioned or denied the science that determined that humans caused global warming.
    Republicans will not put a president in the white house for a very long time unless they join the 21st Century.

    http://thinkprogress.org/climate/2015/12/10/3729732/ted-cruz-and-science...

  125. My Friend.

    "Christian Conservatives", who are Mr. Cruz's target audience, have nothing to do with Christianity as taught by the parables of Jesus. Religion for them is simply used as a shield from criticism that they are generally very mean and selfish and often bigoted. And a tax exempt status doesn't hurt with the so called preachers in the group! People can label themselves anyway they want for their personal ambition. It's just marketing.

    Mr. Cruz is of course a big phony. But so are his supporters! They are in on the con game. They play it themselves on a daily basis.

  126. Not surprising. The more self-righteous someone is, the more sinful there are.

  127. "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... There is no evidence that the Cruzes got a break on their loans."

    An insult to anyone's intelligence - if an unsecured low-interest loan from the bank Heidi Cruz worked after the Cruzes claimed they liquidated all their assets does not qualify as evidence of preferential treatment, then what does it?

  128. GS probably offers loans like that to it's top execs. The disclosure would be the bigger problem.

    I have to admit though, that if we keep crucifying less affluent people for trying to finance their campaigns, all you'll end up with is Trumps, Huntsmans, and Bloombergs in government.

    Do we really want an aristocracy ?

  129. Fran: "Do we really want an aristocracy?" - dear you already have a plutocracy that controls all aspects of your life, especially if you have a uterus.

  130. How on earth is it legal for a candidate to spend 24 millions of his own money to finance his political campaign ? This gives an unfair advantage to the rich to get elected. Isn't that representatives should be in the image of the constituents they want to represent, which means that most politicians should come from the middle class. Congratulations to the GOP on having a bunch of psychopaths in the lead running to represent their party and one of those people may become president. This is truly scary.

  131. "This gives an unfair advantage to the rich to get elected."

    Mark Twain had it right when he declared, "We have the best government money can buy."

  132. His devotees and supporters will not see this negatively, they will refuse to see the hypocrisy. They'll like him more for breaking the rules, for not complying with campaign/election reporting requirements. Scary.

  133. Come on, give the guy a break. Who wouldn't forget about a loan of $500,000? That's chump change to the wealthy people Cruz and his fellow Republicans wish to please.
    And it isn't funny that they are shouting about unions' involvement in politics but don't seem to have any problem with Wall Street's.

  134. Hilary Clinton used the wrong email account for which she was crucified by the right and mainstream media.

    Let's see how much traction this story gets. Keep in mind this is the law and order guy who, as solicitor general in Texas, went to the supreme court to keep a Walmart shoplifter in jail for 16 years.

  135. Used the wrong email account? She set up her own private data ecosystem so she could control information, just as she's been doing for decades, hiding, obstructing, and obfuscating. She sent and received classified information through her server housed in a mom-and-pop bathroom closet. If you or I did 1% of what she's pulled, our security clearance would've been yanked in a nanosecond and we'd be awaiting trial from a jail cell.

    Gotta love all the vitriol aimed at Cruz over this loan, while the Clintons went YEARS without disclosing hundreds of millions in foreign donations to the Clinton Foundation, then said, "Oops,"

    It's a mystery to me as to how people can be so ideologically bound to a personality that they're utterly incapable of rational, critical thinking.

  136. None of which was illegal, and the same was done by many Republicans. What is your point? This is CLEARLY a violation of the law, which Ted was very aware of.

  137. I don't understand this, most Canadians are so much nicer than he is. I think his current campaign funds should be frozen until this can be resolved.

  138. Right. Be more Canadian and run for something in Canada, Ted.

  139. Unfortunately fine folks in Canada already kicked him out once for not fitting in.

  140. Even by Texas standards, the hypocrisy shown by Ted Cruz is breath-taking! Hopefully, the Republican primary voters will now vote this liar off the GOP ticket before he gains any more traction through his deceit and false piety.

  141. It's not the loan. That's a perk of being married to a Goldman Sachs employee, and I don't really care about it.

    My problem is that Cruz is running around claiming to be a something he is not. He's as connected to the Wall Street establishment as many others. Do his nitwit followers understand that? I doubt it

  142. This goes to the core of Ted Cruz's values. He was working the oprics to woo the Tea Party hardcores who may have been turned off by a connection to Goldman Sachs. He wanted to project a false image to fool supporters. This is Machiavellian deception aimed at acquiring power. He should be reprimanded to the full extent of the law.

  143. This is the guy who according to David Brooks went to supreme court against a low level thief to serve a full 16 years of prison sentence. I am sure he will spin this story so that it will not get any traction.

  144. How can anyone be expected to be Commander-In-Chief and lead the armed forces to take aim on our enemies when they can't avoid shooting themselves in the foot.

  145. Let's see how soon this "oversight" is determined by Senator Cruz to be the fault of the following:

    a) The Obama administration
    b) Hillary Clinton
    c) The Main Stream Media
    d) Obamacare
    e) All of the above

  146. I'm a die hard democrat, and I think this is almost a non-issue.

    If the shoes were reversed, there would of course be a multi-million dollar circus on the hill over it lasting at least 2 years.

    Dems should rise above the Republican witch hunt tactics and let this one slide.

  147. It has nothing to do with partisanship. Just like I don't trust Hillary Clinton because she's received countless "speaking fees" of $200-400,000 from Goldman Sachs, I find it equally distrustful that Cruz has taken money from the very institutions he vows to take down to size on a daily basis, proceeding to not disclose said transactions in his reports.

    Integrity should be a valued attribute when selecting a President. Hiding financing sources because they carry clear conflicts of interest with them is something that I personally feel straps some credibility from a candidate -- no matter which side of the aisle they're on.

  148. You are right.

    I'm sure that every other GOP candidate has a similar skeleton in their closet.

    But as long as I've got your attention, Cruz also said this:

    "It shouldn't surprise us that in the final year of his presidency, President Obama is committed to continuing to abuse his executive power in every way, shape and form,"

  149. Chicago guy: Exactly wrong. This is why the Democrats are in such a terrible position, They run away from a fight, and sit on their hands when they have good ammunition to support their positions. Stop bringing a knife to a gun fight, unless you want to end up dead.

  150. Here in the hometown of the infamous Senator Joe McCarthy, we see many similarities between Ted Cruz and McCarthy, starting with their physical resemblance down to their use of half-truths, outright lies, and innuendo. "Ted Cruz - The Reincarnation of Joe McCarthy" was an op-ed piece published in Forbes on February 18, 2013, which identifies specific instances where Cruz was caught using half-truths and lies.

  151. @WI,
    Hey! That's no joke. They really do look alike. Your comment is quite unnerving.
    Thoroughly accurate and thoroughly unnerving.

    [email protected]:22 am est

  152. Half truth is a lie.

  153. We need another Walt Kelly to expose slimy Ted just like he did slimy Joe McCarthy. Oh Pogo, wherefore art thou!

  154. It's disturbing that Goldman is now investing in political candidates, because that's what the terms of the loan suggest. As a matter of fact, it's more devious than to give anonymously to a super PAC, because an indebted politician is even more dependant on his creditors than on his donors.

    So much for Ted Cruz, man of the people.

  155. In politics, it's know as buying politician futures.

    At least we now know Ted Cruz' price: $500,00 bought him as senatorial candidate the last time; what am I bid to buy him as presidential candidate in 2016? Or was/is the "job" for Heidi Cruz part of the total Cruz purchase deal as well?

  156. Please note that Chris Christie's and Rand Paul's wives were both managing directors at Goldman as well. What an amazing coincidence! Goldman must know that if your husband the politician is a fierce tax cutter, then the wives would be excellent employees earning the firm billions. Works for everyone, right?

  157. What utter hypocrisy, to campaign against big banks and Wall Street bailouts while taking a huge bailout of his campaign from Goldman Sachs. He lied about liquidating his family assets and got large loans from big banks that obviously want to curry influence with politicians. And he probably couldn't have won the election without using those fund to pay for a big ad campaign in the closing days of the election.

    Goldman!!, the biggest Wall Street bank that designed the toxic mortgages which brought down our economy and took the jobs, assets and houses from many Tea Party members who have been supporting Ted Cruz.
    I certainly hope this is made known widely and that Cruz will be toast.

  158. Some people may see his financial commitment to get into politics as a measure of his desire to make a difference in the world. I see it as a means to an end, the end being in a position of power that will someday garner him $400,000 an hour to give speeches at Goldman Sachs.

  159. @Kevin R.,
    Well, how 'bout this: let him speak at Goldman Sachs until his tongue runs out of saliva, just as long as he steers clear of the White House?

    [email protected]:04 am est

  160. Absolutely just like Hilary, Bill and Chelsea Clinton.

  161. I can't believe I'm going to do this... but how was Senate candidate Cruz supposed to compete with Lt. Gov. David Dewhurst's reported $200 million fortune, from which he drew down without blinking?

    Had candidate Cruz asked me, I would have told him to run on a platform of public financing for political campaigns sufficient to neuter Dewhurst's right to blow his fortune, coupled with the restoration of an invigorated Fairness Doctrine and compulsory free broadcast media 90 days prior to primary and general election campaigns.

    I woulda been there for you, Senator. At least for the free advice part.

  162. @jjohannson,
    With respects, yeah, but you weren't and more to the point: he didn't.

    [email protected]:02 am est

  163. It is not the fact that he got the loan from GS that is the problem...it is the fact that they hid this on campaign finance disclosure forms. If he ran an honest campaign and disclosed the loan- this would be a non-story.

  164. I don't think there would be anything wrong with accepting the donation, but "inadvertently" forgetting to report it raises some pretty deep questions about integrity. What other "inadvertent" omissions or statements are still out there to be found?

  165. Inadvertent, small change, $500,000. Who is kidding whom? Honest politician? No, just another liar and snake.

  166. remember back in 2010 or so when both Occupy and the Tea Party folks were saying the same thing?
    Basically 'quit letting the banks screw us'.
    Well the occupy people kind of evaporated. The Tea Party folks are still around, but their message was shifted to 'get rid of all taxes now'.
    Which frankly sounds like what a billionaire would say.

  167. Two-faced Ted is breathtakingly insincere. It is no longer news when he lies. But it's worthy of headlines when (if) he ever tells the truth. What a slug.

  168. Ted Cruz is a reincarnation of Richard Nixon.

  169. Worse than Nixon.
    Nixon actually cared about the environment.

  170. Actually, even Nixon doesn't seem that bad in comparison. Granted, he was a crook and completely morally reprehensible, poisoning Americans' faith in government for decades to come, but even Nixon didn't make my skin crawl as much as Cruz does (that voice!), and he did establish the Environmental Protection Agency...

  171. Nope. Nixon got elected. Cruz no such luck. Maybe though Nixon would not make it today either.

  172. Mrs. Cruz works for Goldman Sachs. That in itself seems to speak volumes on where Mr. Cruz's politics would lie.

  173. Apparently the good senator from Texas works for Goldman Sachs as well.

  174. I am sure it is a minor oversight. Just like having forgotten that he was a Canadian citizen until two years ago.

  175. Ted Cruz is not a Canadian citizen. His mother was a US citizen. It doesn't matter WHERE he was born, he'd still be a US citizen based on his mother's citizenship (same thing was true about Mr. Obama, though Obama was born in Hawaii -- EVEN if he had been born in Kenya, he'd STILL be a US citizen).

    Ted Cruz has lived in the US since he was four years old.

  176. Dual citizenship was a hedge by Cruz!
    If things didn't work out for Ted in his quest for greatness in the US, he could have always crossed the border and run for Prime Minister of Canada!

  177. Just another self serving unscrupulous politician pretending for having principles.

  178. No big deal. It's like Marco Rubio's folks fleeing Cuba with Castro's henchmen nipping at their heels. Fantastic story. Apparently untrue, but inspiring nonetheless.

  179. It was not Castro's henchman, but rather Batista's.

  180. Marco never tried to deny the fact that his family immigrated to Miami in 1956 while Fulgencio Batista was still in power.
    His parents, however, did make several trips back to Cuba under the Castro regime. They did finally leave Cuba permanently before the door was slammed.
    The Rubios were not considered political refugees. They left on their own free will in '56.

  181. Actually, the Rubio story told by Marco was a big lie.

  182. Arcane, not going to change a single person's mind about Cruz's chances.

  183. Arcan maybe. And just reinforces my sense that Cruz is a self-serving fake. His "principles" boil down to self-interest, anger at others, and irrelevance to addressing important needs of our society and nation.

  184. What does that say about the American electorate?

  185. Arcane...are you kidding me.

  186. They never change. Laws change, generations come and go, promises are made, the facade is still there. These are the people to lead the country...

  187. Yes, and who always, always "lead" it to benefit themselves, their friends, their investments, and their own class. And play "divide and conquer" games to keep the public suckered and the gold rolling in.

  188. I am never surprised when some sanctimonious smarm-monger like Cruz turns out to be a dirty little cheat.

  189. Every dog has his day. Remember---Vengeance belongs to ME says the Lord.

  190. I love smarm-monger! !!!!! Even better sanctimonious smarm-monger. Thanks.

  191. Gee, the Senator forgot that he had a $500,000 loan from Goldman Sachs. It could happen to anyone.

  192. Sorta like "We don't pay taxes. Only the little people pay taxes.” Attributed to Leona Helmsley, 1983

  193. Speaking of taxes, no sales taxes in Oregon... not much job creation either... lots of 20-something "homeless" sleeping in the streets and parks of Portland. All in all a great example of how to govern......

  194. From 2010 - 2013 (most recent data..) Texas' GDP Percent change was 4.5. Oregon's was 4.1. This was before the oil slump...

    As the story is told, Satan had the choice of living in Hell or Texas. He chose Hell and rents out Texas...

  195. It's one issue if Sen Cruz violated a reporting statute. Another if he misrepresented the source of his family's investment in his political future but didn't break the law. I'm a registered Democrat, but NYT: it's not that slow a news night

  196. If you're a man cloaked in the mantel of The Army of God or if you're selling snake oil, it's all the same. He's trying to shape voter perception, which has nothing to do with telling truth. Just another Gantry.

  197. The story clearly indicates that Cruz violated campaign finance laws in failing to report a loan used to finance his Senate campaign. Cruz doesn't even deny that -- he just claims it was "inadvertent". Of course, it wasn't inadvertent -- it was in support of Cruz' fairy tale about financing his campaign through personal financial sacrifice. The gap between the fairy tale and the truth of funding the campaign with Goldman Sachs money would have been a political problem even if Cruz had dotted the "i"s and crossed the "t"s on his campaign finance reports.

  198. Lying is okay, so long as it doesn't break the law?

  199. Excellent reporting by Mike McIntire of the Times! Please continue to investigate this story. Voters like me need to know.

    As for Rafael "Ted" Cruz, the more we know, the scarier he gets.

  200. I always said he's an Evil Muppet and she looks like Reeese Witherspoon in "Election". Oy America.

  201. One couldn't really be anymore scared then one is right (no pun intended) now.

  202. "Discovers" his dual citizenship as a Canadian in 2013.
    An "inadvertent" non-disclosure of a huge low interest loan from his wife's employer. Donald Trump couldn't be happier!

  203. Meanwhile Bernie shakes his head briefly and continues discussing the issues, while real non-corporation people donate to keep *his* campaign running.

  204. Let's hope they all get give it to "it" tonight

  205. Cruz will undoubtedly attack the story as an example of "New York (Times) values" - i.e., exposing dishonest politicians' lies and distortions.

  206. We're still waiting for NYT to expose the Democrat candidates.

  207. That's freakin funny Stan! Great post, LOL.

  208. Just so. The right-wing electorate is largely divorced from any factual appeal or analysis.

  209. It's the end of the run for Mr. Cruz.
    He will not survive this .

  210. Really? I don't know. Where does mere dishonesty weigh in against hate, bigotry and racism? What would it take for a Cruz or a Trump to alienate their supporters? How far would/will they have to go? I shudder to think.

  211. I'm sure a lot of us hope that's true.

  212. Let's hope that he doesn't survive it!

  213. Mr. & Mrs. Cruz would definitely want their investment returns on everything they own and have borrowed. Are you willing to pay them back plus a satisfactory return?

  214. Inadvertant! Opportunists pure and simple aided and abetted by large Corporations who want what in exchange? Pathetic!

  215. If Americans still believe they live in a Democracy; should be time to wake up. Clinton or Cruz it's the same, all are corrupt because there is so much money involved that only the greedy and corrupt could buy a ticket or have someone with the financial means. We do not have to place a sign that tells "only for the rich" because it is the facto the very nature of what is the system. At the end of a long and uninspired process we are asked to choose one or the other? This is not a choice.
    Bill Clinton was the first President to monetize the Presidency, Hussein Obama is the second and Hilary well, she's using her daughter and already monetized her position in every way possible since Bill was the President. Keep electing sociopaths.

  216. This will be interesting. Cruz, himself, is too smart to think that he could get away with not disclosing the loans, I think, but, maybe not.. Because he says that he would not bail out big banks doesn't mean that he wouldn't go to them if he needs $$.

    I'm more concerned about the undisclosed foreign money that poured into the Clinton Foundation while Hillary was the Sec. of State.

    http://www.salon.com/2015/05/31/the_cash_donations_hillary_simply_has_no...

    I'd give Cruz a fine, like others have received for failure to disclose. It will be interesting to see how this affects his supporters.

  217. JP Venne: "Keep electing sociopaths." You mean like Bush, McConnell, Ryan, Snyder, Walker, Christie??? Tell me which one of them is not monetized. I know you would like to believe that only Democrats do it, but you are living in a dream world if you do.

  218. The most dangerous thing about Cruz is his religious views. His general mendacity stems from his conviction that he is doing God's work and God wants him to win by whatever means he can pull off.

  219. This was the attitude fostered by the odious "C-Street Felowship." I'm surprised Cruz wasn't a member.

  220. As a Christian, I am sick of hearing others claim a pipeline or direct phone line to God. It doesn't work that way. God opens and closes doors for us all the time. HE'S a busy fellow.
    Just beware of far right extremist "Christians." There are more Elmer Gantrys out there than one would care to imagine.

  221. That is crazy….he is not more special to God then any other human being on this planet…he is a bogus Christian and a repulsive ego driven guy who has never done a hard days work in his life…..look at his hands. He clearly has no respect for people and he does not even understand the meaning of Dr Seuss' Green Eggs & Ham…how funny is that? He has a strong creep factor and is clearly not a moral person without any integrity. A scary guy.

  222. Prediction: this will not make one difference to Cruz's supporters, and given the weirdness of this campaign, it may just boat his poll numbers. Cruz will somehow find a way to blame president Obama for it.

  223. "this will not make one difference" I just said that to myself -- now what are they going to do with this? Recalling that sanctimonious attitude toward marital fidelity that turned out only to apply to, well, you-know-who.

  224. He won't blame Obama. He'll blame the liberal media.

  225. Prediction: It was specifically timed by the RNC to scuttle his Iowa caucus results as payback for his previous budget shenanigans used to shut down the government. Personally, I hope, just this once, that the RNC has got it right! (Pun intended.)

  226. Another loan from friendly banker Lloyd Blankfein to someone else 'doing God's work'.

  227. Finally...something "major" to overshadow Hillary's so very many "minor" transgressions over the years that are so often nit-picked by those right of center, yet ignored by the Left. The media will keep this story going for a long time...I'm sure. Whose "work" is Hillary doing?

  228. Lots of people have full time child care and a mortgage, but nowhere near $1 million plus 6 figures on which to live... just sayin.

    Mr. Cruz is slippery; his voter base loves rags to riches stories and stories of folks who made it all on their own (proves that gov't assistance to struggling folks is all wrong and that anyone who 'tries' can make it 'just like I did'). Loans from big banks do not fit the story as well as "I said, 'Honey, can we use all of our savings' and she said, 'of course, you are the one American needs right now.'"

  229. "There would have been nothing improper about Mr. Cruz obtaining bank loans for his campaign, as long as they were disclosed. But such a disclosure might have conveyed the wrong impression for his candidacy."

    I read this yesterday, and thought, Cruz has never been "vetted" like the media and public usually do once a candidate rises in the polls. It happened to Carson, it happened to Rubio, it has already happened to Bush.

    Of course every candidate has some "transgression" in his or her past that has to be absorbed by voters who ultimately are the decision makers--should the candidate go on to win a nomination--how important it is.

    But as the above quote shows, this reveals a telling trait about Cruz that has long been unattractive to me: a smarmy sense of self-righteousness and purity that often doesn't match up with his actions. Hiding such a major source of campaign funding may end up doing more damage than if it had been noted, even if it endangered his chances to run as a "true conservative" not in bed with big banks, big money, and all the usual corruption that accompanies American political campaigns.

    The chickens are coming home to roost: our rotten system tempts politicians to skirt campaign rules if they threaten to expose hypocrisy. I suspect there are other things hidden in the Cruz resume that may come to light, given the amount of enemies he's made along his race to the top.

  230. "Hiding such a major source of campaign funding may end up doing more damage than if it had been noted,..."

    Given that widespread knowledge of the Goldman loan would have thoroughly undercut Ted Cruz's posing as an outsider conservative not beholden to banks and to Wall St., my sense is that disclosure would have ended Mr. Cruz's political career.

    Disclosure would also have brought farther into the light Mrs. Cruz's work at Goldman, and Cruz's background as a member of the Eastern elite he claims to despise.

    It seems likely Cruz needed to lie about the loan merely to have any sort of chance at all at a political career.

  231. Cruz apparently reported this loan on other financial filings with the government. So he was hardly trying to hide it. When you use your home and other assets as collateral for a loan there is nothing illegal about that; it is done every day. Other articles have indicated he received no special terms on the loan and paid it off quickly. He won't be the first candidate who has tried to paint an image of himself that does not quiet measure up to the facts. Although I find the man repellent, to put this story on the front page of the NYT seems like an overreach. And ironically the only one it will probably really benefit is Trump in Iowa. Unless there is a backlash against the liberal media which Cruz could use to his advantage.

  232. Cruz is in bed w/ "the big banks", he is married to a G-S Director and literally sleeps w/ one who has helped her husband gain financing after stating that they needed to follow good investment practices and NOT use their own assets….geeze. Talk about not putting your money where your mouth is and using the assets of others. No risk here just blind personal ambition from an extremely repulsive guy who should not be living off tax payer $. Time for Sen Cruz to seek work in the private sector and stop living off the taxpayers. Is this woman First Lady material? I think not.

  233. But this is not all that he didn't report or disclose, right?... Tricky Ted. Reminds me of another Tricky politician from decades ago.

  234. Wow! I'm an attorney that kind of stuff is prison illegal!

  235. Don't they all buy elections? They deal with so much money that I could believe they forgot. And the Television industry laughs all the way to the banks.

    Goldman Sachs, America.

    No surprise here. It's called the "Free Market". Ask any convict.

  236. Let me guess...Ted wants to dismantle Dodd Frank.

  237. It's not possible to thank the crew at the New York Times enough. You do know that we are tough on you guys the same as the other media types.

    But you folks come through with, clearly, the most incisive, hard hitting journalism that we can have today. With true heart felt thanks...You Guys Do Rock!

  238. Can't you just hear them Republicans screeching?
    1998 - Rule of Law! Rule of Law!
    2008 - Birth Certificate! Birth Certificate!
    2016 - never mind...

  239. Ted Cruz (and his father) are frauds yet the media never challenges him and others in the eyes of the public. I miss Tim Russert.

  240. Why am I not surprised? Republican/Tea Party hypocrites who obfuscate the facts and sin by omission are a dime a dozen these days. And full time child care? What kind of family is that? Seriously, that takes the Republican/Tea Party "family values" posturing to the fathomless depths of speciousness. Talk about "planned parenthood" - the Cruz' have "paid parenthood". Sick.

  241. Cruz's career is built upon quoting Bible verses in his campaign speeches, and it works - his voter-base consists primarily of fundamentalist Christians. When not quoting scripture himself, Cruz sends his father, an evangelical preacher, in his place to preach fire & brimstone sermons.

    Here is a scripture quote for Cruz's Christian supporters to meditate upon:

    "Beware of false prophets. They come to you in sheep's clothing, but inwardly they are ferocious wolves." - Matthew 7:15.

  242. Will he be deported to Canada after he serves his prison sentence?

  243. Mr. Cruz is not a Canadian. He is a US citizen, because his MOTHER was a US citizen.

    At age 18, he was ELIGIBLE to claim Canadian citizenship -- if he had wished -- or dual citizenship. Instead, Ted Cruz RENOUNCED his possible Canadian citizenship (he has lived in the US since age 4) so that is not even remotely possible anymore.

  244. OK...we do NOT want him.....Our priority is helping genuine refugees from Syria, not this refugee from the truth and basic human decency

  245. CC: Cruz renounced his Canadian citizenship only when he decided to run for the POTUS position. And frankly, all of Canada is grateful that he renounced it as we do not want to have him in our great country. He is all yours, honey!!

  246. But Hillary can take millions from foreign governments and it barely gets a column inch in the NYT. Never mind all the cash Obama got from Wall Street that he paid back with an almost trillion dollar "shovel ready stimulus."

  247. So are you actually defending Mr. Cruz? Please be clear. The remainder of your fuzzy accusations do not merit comment

  248. Cruz stands on feet of clay. He will not risk breaking them by kicking over the tables of the money changers. I cannot believe this man's claim to be a devout Christian. Someone who is as dishonest as this man obviously is, is not someone who has heard the good news or one who understands its meaning.

  249. A half-million dollar loan is not disclosed "inadvertently?" Yeah, right. The people who buy this kind of pig slop are the same ones who give money to the Church of our Lady of Perpetual Sanctimony.

  250. They're also the ones who vote to elect and reelect Rick Scott Governor of Florida despite his being CEO of HCA while that hospital group was bilking Medicare and Medicaid (that's you and me, folks) out of more than $1B dollars. Now we learn he's been trashing Florida's hospital standards as well to keep his Republican donors happy. Typical Republicans all. http://www.cnn.com/2016/01/13/health/florida-hospital-standards-republic...

  251. Damn, I was hoping T.Cruz would win the nomination, so the conservatives would quit complaining about not fielding a true red conservative. What is a true conservative? Maybe they should nominate Andrew Sullivan. I miss you Andrew.

  252. So he's a firebrand against Wall Street. A darling of the Tea party. He inadvertantly failed to dislcose a Wall Street loan that very well could have caused him some problems appearing as anti as he rants.... interesting. Teddy boy; God knows the truth!! Maybe just an ends justifies inadvertancy!

  253. He also applied for Obamacare when they lost healthcare after Mrs Cruz quit Goldman. What a hypocrite!

  254. Uh -- as a Senator, Ted Cruz is entitled to the same health insurance plan as every other Federal employee.

    BY LAW, all members of Congress must get their health insurance plans from the ACA exchanges.

    Cruz was simply following THE LAW as it is written. "Obamacare" as you state is not charity, nor did the wealthy Cruz's go onto expanded Medicaid.

  255. She didn't quit, she took a leave of absence. Goldman knows how to hedge all their bets. Eric Cantors wife was "employed" there also.

  256. Canadian's they're all crooked or drunk.

  257. Cruz cannot run for president. It's a total scam! The Constitution is very clear: you must be born in the United States! Cruz was not born in the US. He had alien status. Cruz is a naturalized citizen.

    A naturalized citizen has the full rights of a citizen, to vote, to participate fully in our government EXCEPT to hold the office of POTUS. Read up, it's quite clear. Cruz is skirting the law of the United States.

    Cruz you may be a proven conservative.

    But you have not passed the test to be eligible to hold the office of POTUS. Cruz, your campaign is illegal and the sooner you get out the less the consequence of your illegal maneuver.

    Cruz, do the right thing and get out before you risk the arrest by Federal Officials! You have been warned! Don't make it difficult on the authorities. They already have a tough job.

    Cruz, don't give the federal agents any trouble. They have the highest training to deal with difficult cases. Don't make your case a "difficult one."

  258. Cruz is not a conservative. A guy like David Brooks is a thoughtful, respectful Hamiltonian conservative. Cruz is a radical thug seeking to undermine accountable, decent government. He has more in common with Lenin than Reagan.

  259. You know, birtherism was really stupid when people attacked Obama and claimed he was "not an American".

    It is pathetically stupid when lefty liberals try and do it to Senator Cruz.

    FYI, Jack. To run for POTUS, you must be a NATIVE BORN CITIZEN, the definition of which is that either you are born here on US soil (no matter who your parents are or where they come from, even if they are illegally here) OR that either of your parents are US citizens.

    If one of your parents is a US citizen, then YOU are a "native born US citizen". SCOTUS has already ruled on this, BTW.

    Mr. Cruz's mother was a US citizen at the time of his birth. Ergo, Cruz is a US citizen. It does not matter if he was born on the moon.

    Federal officials wouldn't arrest him in any case. Note that even though there were (bogus) charges against Mr. Obama, he ran and he won and no "Federal Officials" came and demanded his long form birth certificate.

  260. Cruz's dual citizenship is his problem. His parents were Canadian citizens that have voted in Canadian elections. This was not the case for John McCain who was born in the Panama Canal zone with two Americans parents. Or for that matter for Barry Goldwater who survived an attempt to discredit him as he was born in the state of Arizona before it was admitted into the Union. This will eventually doom the Cruz run for the White House.

    The stipulation for a natural born citizen in the Constitution is that a person who will become POTUS will have no other affiliation or allegiance to any other foreign country. Cruz has not passed that most important test.

  261. Ted Cruz.

    Yet another self-promoting fraud masquerading like a leader.

    And so the Goldman Sachs-wing of the Republican Party has now gone full circle to the Goldman Sachs-wing of the Democratic Party and Hillary...

  262. Hillary Clinton puts the entire country at grave risk as she allows classified information to be leaked through her unsecured email and liberals are cursing out someone who spends every dime he has trying to rid the country of people just like her!

  263. This is a pure fishing expedition. Any attempts to paint this as deception will fail, and this story isn't worth printing.

    "Low interest" is baloney. Margin loan rates, or loans for which securities have been pledged as collateral, are available to all customers. They offer relatively attractive borrowing rates not because of who the borrower is or knows but, rather, due to the liquidity of the collateral. If the value of their portfolio had dropped during the loan, Goldman Sachs would have sold the securities and the Cruz family would have suffered a punishing loss.

    The fact that Goldman and Citicorp was involved is irrelevant. These are customary loans extended to clients on a non-preferential basis. In fact, unlike mortgages sold to agencies like Fannie Mae for low-credit borrowers, Goldman and Citi hold these loans on their balance sheet and will be far more attentive about the ability of the client to repay and the collateral received.

    This is like writing a story about ordinary people borrowing against their 401k plans, a far more questionable strategy given the risk of losing tax-deferral if the loan is not repaid.

    Go dig into Hillary Clinton's email server some more. That is the most egregious attempt to evade the law. I know not another human being who has a private server in their home. Not one. I know hundreds of people who have home-equity lines of credit or margin loans agains their savings held in securities.

    The self-righteous NYTimes strikes..

  264. My husband has been a campaign treasurer for a couple of local candidates. The reporting requirements are onerous but clear, and I don't believe for a moment that these two very smart, educated people and their staff did not know these loans should be reported.

  265. I know folks who have servers. Also, the server was Bill Clinton's set up by the secret service and used by Hiliary. Smart by her? No.
    Check George Bush's. And if the story wasn't worth printing, wouldn't your comment on it have the same zero value?

  266. All true, no doubt, about the not uncommon use of margin loans by a certain part of the populace (I'm not getting into the Clinton emails with an obvious Clinton hater.).

    But the real issue, as the headline makes clear, is Cruz's failure to report the loans as required by law and his untrue story that he and Heidi liquidated all their assets to fund his Senate campaign. Like many others, I believe it likely that the disclosure failure was not "inadvertent" but rather a calculated decision to preserve his image as an outsider champion of the downtrodden. Had the Texas public known about these loans and the false liquidation story, the Senate election might have gone a different way. That's the story and I'm glad the Times has printed it.

  267. Under the standards enunciated by Justice Kennedy in the now infamous Citizens United case, there clearly isn't a no quid pro arrangement in Goldman Sachs giving Cruz a $500,000 low interest loan for his Senate campaign. His wife works for GS, after all, and the company is known far and wide for treating its employees and their families very well, in both compensation and fringe benefits, like low interest loans for vacation home down payments, yacht purchases, college tuition and political campaigns. And the folks on the receiving end of this largesse realize that GS modestly desires that its charitable activities not be publicized (don't want to brag or lay it on), so they go out of their way to keep such arrangements quiet and private.

    As Kennedy said in CU, there is no hint whatsoever that Cruz created an obligation to Goldman by accepting the loan for his campaign. This is perfectly acceptable behavior. Also, lest we forget, Goldman Sachs is people, too, and what's a $500,000 low interest loan between friends.

  268. Martin loans based on securities is available to anyone that has an after tax account (no margin on IRAs).

    Margin loan isn't the issue, avoiding disclosure to fit his narrative is.

    Just another politician selling hot wash.

  269. Unfortunately, half the readers here don't get sarcasm; it is not a southern staple, and may go over midwestern heads as well, so here is a PSA: PaulB is being sarcastic, so please read some outrage in his remarks. Thank you.

  270. There is ample research to show that even a small gift or favor, could be a quick and easy confidential loan, makes it much easier for the giver to gain some hold or favor in return.

    But it's the secrecy, the withholding of legally mandated information - from voters - that is the transgression here. Coupled with the hypocrisy of piously pretending that one has liquidated one's own assets (when a loan is outstanding to banks, whose power one is supposedly running against).

    Cruz is all about subterfuge, deceit, counterfeit piety. Sometimes it must be named. There is a whiff of evil here.

  271. Sheep in wolves' clothing. Million dollar a year lawyer. Managing director at Goldman Sachs. Princeton, Harvard, overrun with Marxists he bleats. Banks throw big money at woolly tex and call it a loan so he can don pointy boots, tight jeans and flannel plaid shirt with curlicue covered pockets, thump a bible and rail against the big bankers his wife worked for. Obscene hypocrisy but the sheep feel better in herds whatever direction they're led. Now the wolf in sheep's clothing can pounce and take Iowa. Sheep don't think, don't question, just follow. Republicans count sheep and dream. Americans wake to a nightmare.

  272. And is anyone with half a brain surprised? The "elite-hating" Princeton/Harvard grad with the Goldman Sachs wife is a fraud.