In case you needed any further reason to despise Ted Cruz and tell every Texan you know to vote for his opponent Beto O’Rourke in the midterm election, a unanimous decision from the Federal Election Commission regarding his behavior during his first Senate campaign in 2012 ought to clear things right up for you.
First, thanks should be given to Democrats for sounding the alarm on Ted’s shady practices in 2012, which raised red flags all over the place.
According to the FEC, Cruz’ finances during that campaign season weren’t just shady — they were downright illegal.
Federal law allows a candidate to use unlimited amounts of their own money to fund a campaign for public office. If I were a billionaire, I could spend a billion dollars getting myself elected anywhere I was eligible to run, and the FEC wouldn’t bat an eye.
But the money that comes from other sources is strictly limited, so as to reduce both the occurrence and appearance of grift and the sense that a candidate is running on behalf of a particular person, group, or interest who is footing the bill.
And the FEC looks extremely unfavorably on those who attempt to pass off other people’s money as their own for reporting purposes during a political campaign. That, in fact, is a HUGE no-no, in violation of federal law. And it looks like that’s exactly what Ted Cruz did.
Cruz received more than a million dollars in loans from investment bank Goldman Sachs and financial powerhouse Citigroup, after attempting to report that he had liquidated all of his assets in order to fund the race. Cruz sunk $300,000 of his own money into the contentious campaign, then accepted the loans, which were designated for the campaign, thereby effectively making the entire $300K investment into bank funding.
The FEC found that Cruz’s contributions far exceeded the value of the “liquidation” he performed and that the bank loans were claimed as personal funds.
Again, a BIG no-no.
Are there any ethics at all left in the Republican party?
Featured image via Cole Scott/Getty Images