Ted Cruz Didn't Disclose $100,000 Investment Because He Forgot About It
Hey Ted, did you forget to mention something?
TIME has uncovered that Texas Republican Senator and fake-filibusterer extraordinaire Ted Cruz potentially violated ethics rules during his 2012 campaign by failing to disclose a $6,000 investment that resulted in $100,000 profit.
Cruz maintains he has not had any relationship with the firm, which he helped start with his former college roommate, since he cashed out an initial investment of $6,000 in return for $25,000 cash and a $75,000 promissory note — essentially an IOU — on the holding company.
“In 2011, there was an inadvertent omission of this promissory note, and after a conversation with my college roommate I remembered it,” Cruz told Time.
Just in case you missed that, Cruz forgot about someone owing him $75,000.
In what he has legally filed, Cruz lists quite a few hefty assets held by him and his wife (an executive at Goldman Sachs), including mutual funds and blue chip stocks totalling between $1.5 and $4 million.
Despite his overwhelming wealth, Cruz has claimed to be a man of the people since his 2012 primary campaign for Senate against Texas Lt. Gov. David Dewhurst, where he campaigned as a principled lawyer bred from humble beginnings who wanted to grow up to be just like Ronald Reagan.
"As a law student at Harvard, he refused to study with anyone who hadn’t been an undergrad at Harvard, Princeton, or Yale. Says Damon Watson, one of Cruz’s law-school roommates: 'He said he didn’t want anybody from ‘minor Ivies’ like Penn or Brown.'"
But he's just like you!