Limbaugh Defends Ted Cruz Over Goldman Sachs Loan [AUDIO]

Steve Guest Media Reporter
Font Size:

Rush Limbaugh defended Sen. [crscore]Ted Cruz[/crscore] and his wife Heidi Cruz for taking out a margin loan to assist Ted in his 2012 Senate campaign.

Thursday on “The Rush Limbaugh Show,” Limbaugh praised Heidi Cruz–who works for Goldman Sachs–saying that she is” formidable” and “if anybody does to go after her, they are going to have a tough awakening because she is not a pushover, she is not a wall flower.” (RELATED: Ted Cruz Admits To ‘Inadvertent Filing Error’ After Not Disclosing Goldman Sachs Loan)

Limbaugh played an interview Ted Cruz gave with CNN’s Dana Bash where he said, “We made the decision to put our liquid net worth into the campaign.”

“We did so through a combination of savings, liquidating our savings accounts. Through a combination of selling assets and then we had a brokerage account that has a standard margin loan like any brokerage account has and we borrowed against the stocks and assets that we had under ordinary terms. And so, those loans have been disclosed over and over and over again on multiple filings.”

“And he is exactly right. He took a margin loan,” Limbaugh said. “He and his wife made a decision to liquidate everything to go for this. By the way, I just want to warn some people, his wife, you don’t hear much about her, her name is Heidi, she is formidable.”

“If they, anybody tries to go after her, they’re trying to denigrate Cruz– his wife works at this big Wall Street bank, ‘You know these guys, they got bonuses, the guys who foreclosed on the poor, yeah, Goldman Sachs.’ Whoever decides, if anybody does to go after her, they are going to have a tough awakening because she is not a pushover, she is not a wall flower,” Limbaugh suggested.

“Anybody with a brokerage account has access to margin loans. The interest rates are really favorable for anybody that has one and you borrow against the equity you have in your portfolio,” Limbaugh said.

According to Limbaugh, Cruz’s rivals are “trying to impugn Cruz with just the association of Goldman Sachs, his wife happens to work there so that’s suppose to be an instant disqualification.”

“Never mind, that the Clintons have been out raising money and collecting money from all kinds of questionable, dubious characters and reprobates all over the world in advance payment for services rendered after she becomes president. Everybody knows it. The Cruzes have done nothing illegal, marginally or otherwise. The Clintons are indictable. And of course the drive-bys [mainstream media] are not interested in that aspect,” Limbaugh insisted. (RELATED: Clinton Charity Doubled Foreign Cash While Hillary Was At State Department)

Follow Steve on Twitter and Facebook