Multiple outlets are reporting that Sen. Ted Cruz (TP-Texas) failed to report as much as $500,000 in loans from Goldman Sachs that may have been used to help finance his longshot 2012 Senate campaign. Cruz is downplaying this as an “inadvertent” filing error, but part of his Senate campaign was premised on his anti-Wall Street rhetoric and the fact that he was getting preferential loans from a Wall Street giant (that also employed his wife) would not have fit well into that narrative. Cruz explains one of the loans as a “standard margin loan” that you would have with any brokerage account. Red calls BS on that one. There is nothing “standard” about margin loans and they are the easiest way for the average investor to get in trouble and rack up big losses. Red sees potential trouble for the high-flying Tea Party darling in the weeks running up to Iowa. Ted’s “nothing to see here, move along” explanation doesn’t pass the smell test and how did the oh-so-brilliant attorney from Texas not manage to follow disclosure laws which are pretty damn clear on their face. Isn’t interpreting law supposed to be his strong suit?