Ted Cruz’s Shady Wall Street Connections

The day following Ted Cruz’s announcement that he was going to run for president he told Bloomberg news:

“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.”

It has since come to light that Ted failed to disclose the loans he had taken from Goldman Sachs and Citibank. Many people may think this issue has been cleared up, but it is still an ongoing investigation. Ted’s campaign recently rebuffed the FEC’s request for additional information. Speaking of crony capitalism what is Ted willing to do in return for the donations he has received from Wall Street? For example

“Credit Suisse Group gave Cruz $33,442. CSG is under federal and international investigation as the money launderers for the crooks who ran FIFA, the international soccer association.”

“Goldman Sachs gave Cruz $69,350. The pro-amnesty Goldman Sachs is under an FBI investigation that started in June. It has a long history of dirty dealings and being a Democrat ATM. Is this money a “pay-it-forward” bribe to Cruz to save Goldman Sachs by having a “President Cruz” call the FBI off the trail of his wife’s employer?

I have been meaning to point out more of Ted’s shady Wall Street connections, but Roger Stone beat me to it he writes:

“It was disturbing enough when Senator Ted Cruz announced that Neil Bush, brother of Jeb and George W., would be a Finance Chairman of his campaign.

Neil defrauded U.S. taxpayers out of $1.5 billion dollars in a savings and loan scam. Now however, Cruz has announced a key appointment that should disturb voters even more.

Cruz named Former Texas Senator Phil Gramm as his economic guru. This guy virtually crashed the U.S. economy. Gramm is largely responsible for two bills which led to the speculative bubble which popped in September 2008. First was his Gramm-Leach-Bliley bill that repealed Glass Steagall, which separated investment banking from commercial banking. Its repeal — which was signed into law by President Clinton, with the backing of Robert Rubin and Larry Summers — opened the door for a flood of money, from commercial banks, to flow into mortgage-backed securities and other funny-money schemes, which blew up in 2008.

The second bill was the Commodity Futures Modernization Act (CFMA), which totally freed derivative trading from any regulatory oversight. This was another Phil Gramm bill, and was central to the bubble creation from 2000 to 2008, and then again today.

Following the crash of 2008, the Dodd Frank bill was backed by Obama and teams of Wall Street lobbyists, who mobilized to make sure that Glass Steagall was not restored, and that the CFMA was kept in place. As a result, when combined with bailouts and Quantitative Easing, a new bubble has grown, allowing Wall Street speculators to continue the Ponzi scheme, while depriving the real economy of credit.

Phil Gramm is now an official at UBS, the Swiss bank which has been under fire for its protection of tax-cheating U.S. corporations and the upper echelon of financial speculators. Gramm would be the architect of the Cruz economic model, great for Wall Street but no so hot for American taxpayers.”

Read more at The Daily Caller

As you can see Donald Trump is the ONLY candidate who is not beholden to donors. A vote for Trump is a vote for Main Street.  A vote for Ted Cruz is a vote for his campaign contributors. If you want to stop crony capitalism don’t vote for someone who is a crony.

These presidential candidates depend on Wall Street the most

Source: Center for Responsive Politics, Federal Election Commission

Top 20 Contributors to Ted Cruz Campaign Committee