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Ted Cruz Slams 'Crony Capitalism' Of Goldman Sachs, His Wife's Firm

In an interview with Bloomberg, Cruz takes a shot at his wife's employer.

Somewhat ironically, Cruz enrolled in Obamacare as his wife took leave from Goldman to join his quixotic presidential run. Heidi Cruz is a managing director at Goldman Sachs

via Bloomberg

In an interview with Bloomberg's With All Due Respect, Cruz was asked by host Mark Halperin whether, on balance, Goldman Sachs was a positive or a negative force on society.

"Like any institution, there's some of both," Cruz responded, adding, "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. I think big business, if they're building a better mousetrap, great, but it shouldn't be government favoring, and let me give you an example: Dodd-Frank. Sold to the American people as stopping 'too-big-to-fail.' What happened? The big banks have gotten bigger. Goldman has gotten bigger..."

Halperin pressed Cruz as to what he saw as the negative aspects of the investment giant were.

"Because, like many other players on Wall Street and big business, they seek out and get special favors from government," Cruz responded. "I think they're entitled to practice their business, but without subsidies or special benefits."


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