Accuracy in Media

20151111_tedcruz2015Sen. Ted Cruz (R-TX), who is one of the least liked Republican candidates by the liberal media, called out The New York Times for its obsession with his presidential campaign, after Fox Business anchor Maria Bartiromo asked him about a loan he made to his senate campaign in 2012:

Bartiromo: Senator Cruz, the New York Times is reporting that you failed to properly disclose a million dollars in loans from Goldman Sachs and CitiBank. During your senate race, your campaign said, ‘it was inadvertent.’ A million dollars is inadvertent?

Cruz: Well Maria, thank you for passing on that hit piece in the front page of The New York Times. You know the nice thing about the mainstream media, they don’t hide their views. The New York Times a few weeks back had a columnist who wrote a column saying, ‘Anybody But Cruz.’ Had that actually — that same columnist wrote a column comparing me to an evil demonic spirit from the move, ‘It Follows’ that jumps apparently from body to body possessing people.

So you know The New York Times and I don’t have exactly have the warmest of relationships. Now in terms of their really stunning hit piece, what they mentioned is when I was running for senate — unlike Hillary Clinton, I don’t have masses of money in the bank, hundreds of millions of dollars. When I was running for senate just about every lobbyist, just about all of the establishment opposed me in the senate race in Texas and my opponent in that race was worth over 200 million dollars. He put a 25 million dollar check up from his own pocket to fund that campaign and my wife Heidi and I, we ended up investing everything we owned.

We took a loan against our assets to invest it in that campaign to defend ourselves against those attacks. And the entire New York Times attack — is that I disclosed that loan on one filing with the United States Senate, that was a public filing. But it was not on a second filing with the FEC and yes, I made a paperwork error disclosing it on one piece of paper instead of the other. But if that’s the best The New York Times has got, they better go back to the well.

The real issue for the Times, though, wasn’t really the loan reporting. It was the fact that the loans came from Citibank and Goldman Sachs—where Heidi Cruz worked prior to her husband’s senate run—which the Times thought was hypocritical since Cruz has accused Goldman Sachs and other Wall Street firms of crony capitalism.

But there really isn’t anything unusual about the loans. It’s common practice for an employee on Wall Street to maintain an account with their employer, and in this case they pledged the assets in their account as collateral for the loan, also not unusual on Wall Street.

For a cash-starved first time candidate who wasn’t given any kind of chance to win, it was the only way Cruz could raise the much needed funds for his campaign. That’s not hypocrisy, that’s reality.

While the Times didn’t get their scalp this time, it probably won’t be long before they go after Cruz again, especially if he continues to rise in the polls.

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