Posted on 01/31/2016 7:27:11 AM PST by Cincinatus' Wife
Sen. Ted Cruz on Sunday accused front-runner Donald Trump of owing $480 million, noting "it could be billions."
Appearing on "Fox News Sunday" the Texas senator told host Chris Wallace that his own loans to run for senate were disclosed and also accused Trump of owing millions.
"If you look at his financial disclosure, he owes at least $480 million dollars right now, and it could be billions," Cruz told Wallace.
"He knows this loan story is completely nonsense," Cruz said. "It's also the height of hutzpah - for someone who owes hundreds of millions of dollars if not billions of dollars, to attack Heidi and me because we put our life savings into running for senate. And the statement that the loans weren't disclosed, he knows is flat out false. The loans were disclosed."
Wallace then pressed Cruz to explain what Trump owes.
"If you look at his financial disclosure, he owes at least $480 million dollars right now and it could be billions," Cruz told Wallace. "And by the way with loans when Heidi and I take loans, we pay them back."
"Donald's declared bankruptcy four times, and so for him to sit there owing hundreds of millions or billions or who knows, and to criticize Heidi and me for putting our entire net worth into the campaign is astonishing," Cruz said. "It is not honest, especially because the loans were disclosed, they were publicly disclosed at the time."
“Either Cruz doesn’t understand how business finance works, or he is lying and spinning like any traditional politician.”
Yup. I agree. Cruz is just like the rest of ‘em. The fact that he hooked up with that crazy Glenn Beck is more proof of that. And Cruz was the one that got BIG loans from banks and then failed to disclose. BS on the “inadvertent” meme. Trump is the only one who is really outside the government crowd. His personal life is not my cup of tea but the flip flops over the years on issues really don’t bother me. Most of us evolve our positions when we put serious thought to an issue. But the biggest reason I think Trump is the best candidate for the times is that I just can’t get past all the other candidates’ ties to the “establishment” ....even Cruz. They are all beholden to someone whether we want to admit it or not, and they will serve that master(s). Except Trump. The government, including the entire bureaucracy and attendant regulations, needs to be overhauled and shrunk massively. I hope that Trump can do it. Start by selling most federal land back to the states or private (domestic) landowners and use the proceeds to pay down our national debt. Trump, being a real estate dude, will get the best deals.
Lol. yeah the short answer.
Go TRUMP!
He’s owned by every bank, he’s owned by “Big Corn” with his support for ethanol, and because of his close association with the Clintons as president he would be owned by every foreign govt in the world that has a copy of doc# AFGP-2002-600321.
Using your logic then, Trump is a legal illiterate.
https://en.wikipedia.org/wiki/Ted_Cruz#Texas_Solicitor_General
You certainly know much more about what goes on with Beck than I do. Sorry for your loss.
Again, I’m going to invoke HoosierDammit’s FR rule #2 - touting birther nonsense automatically deducts 30 IQ points and no longer allows me to take you seriously.
Millions of conservatives sat out 2012 because they didn’t want Romney - Apparently ol’ Mitt just wasn’t a real conservative. This was encouraged by FR hardliners. I’m simply going to exercise my right to do the same.
What about Heidi Cruz? She’s Ted’s wife. Heidi isn’t running for President.
Trump would be considered a bad businessman if he didn’t have loans at the current interest rate levels. Sorry Ted no score.
Now Teddy is just embarrassing himself. It is obvious he does not understand financing or business. It’s time to get Ted fitted for a straight jacket. He is cracking up. Wow.
The problem with that thinking is Trump gets over $150 dollars of result for every dollar he’s spends. He was over 30 million under budget when he had spend a little over 200K.
In contrast what have the tradional candidates spent to get the result they have gotten? Trump makes this point over and over. He’s spent the least - by a factor of like 400 when you comapre to Bush - and has the best results.
Your point is valid about Trump ($480 is the minimum, the disclosures are of ranges). Trump’s loans are from mega-, multinational banks, and there’s nothing unusual about them for the business that Trump is in. He is an international businessman with a portfolio of properties that span the world, including Latin America and Muslim countries, and out-sources the manufacture of his merchandise to China and elsewhere. Since his brush with bankruptcy in 2008, when Trump Chicago defaulted on its loan from Deutches Bank (let’s be fair about this, a lot of people ran into financial problems that year), Trump has put his finances into good order. He is no longer highly-leveraged.
But your point would also be valid about Cruz. The Cruz loan is a securitized loan. It is not unusual for politicians to use their net wealth to make contributions or loans to their campaigns. Cruz and his wife borrowed against financial assets to make a loan to his campaign committee for the primary run-off of 2010. The remaining balance of the loan is small relative to Cruz’ income and assets.
The real issue of the Donald’s many international investments, business partnerships and loans is that they potentially represent a conflict of interest. We have never had such a wealthy person or an active businessman be President of the United States. This was asked at the second Fox Business debate, and Trump dismissed it saying he would turn the management of his enterprises over to his adult children and hired managers and partners. This needs to be explored.
Admit it - the posts here are ripping little Teddy’s nonsense to shreds.
It is indefensible.
Ah! if there had only been “Palin years”! If John McCain had let her go to Michigan, he might have won! Look Donald Trump has broken 51% in Michigan!
As for Trump’s dept to equity ration, 5% is pretty damn good! If he wanted to be debt free, he could do it pretty quickly, so there must be a good business reason for each of the loans.
“Sorry for your loss.”
LOL!!
*My* loss?? Ted can have a shallow flip-flopper like Beck. It’s no loss to me. In fact it’s not about me at all.
Wrong argument Ted
She is Wall Street
You’re whining cause Trump has mortgages on Wall Street
That’s a Occupy talk
You guys have fun with that
I’ve borrowed from Wall Street too
In fact most freepers have too if they own a home
Who do they think buys the bundles and bundles of home mortgages
Even crap down to the Bosch dish washer bought on time
Or your car sometimes
Or old credit debt
These are income producing instruments bundled up frequently and shaved when passed on
If rates rise above bundle average they go down in value
Down the go up
Kinda like bond would
Wall Street is the financial hub of the world followed by London
painting it as the bogeyman is libtalk
And Cruz being married to a high ranking member of that clique gives him no room to point fingers
It’s a fake issue
Cruz is desperate
He loses Iowa and its over
I believe he said he didn’t think it was required...so if you’re looking for the word admitted, it may not be there....but it’s there.
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