“Goldman is one of the biggest banks on Wall Street, and my
criticism with Washington is they engage in crony capitalism. They give favors
to Wall Street and big business and that’s why I’ve been an outspoken opponent
of crony capitalism, taking on leaders in both parties,” Cruz said last March in
an interview with Bloomberg. “Like many other players on Wall Street and big
business, they seek out and get special favors from government,” he continued.
In the first half of 2012, Ted 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. Neither loan appears in reports
the Ted Cruz for Senate Committee filed with the Federal Election Commission,
in which candidates are required to disclose the source of money they borrow to
finance their campaigns. A spokeswoman for Mr. Cruz’s presidential campaign, Catherine
Frazier, acknowledged that the loan from Goldman Sachs, drawn against the value
of the Cruzes’ brokerage account, was a source of money for the Senate race.
Know them not by what they say but by what they do.
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