Report: Watchdog Investigates Ted Cruz Over Loan Changes That Aided Billionaire Donors

[Wicked Blue]

Huffington Post
By Mary Papenfuss

A federal watchdog has launched an investigation into Texas Republican Sen. Ted Cruz over a $35 million COVID relief loan given to billionaire fracking brothers who were also top Cruz campaign contributors, Bloomberg reported.

Dan and Farris Wilks received the taxpayer-backed windfall even though their businesses were flush enough at the time to buy stakes in six other fracking companies, The Wall Street Journal reported late last year.

Cruz reportedly helped persuade then-Treasury Secretary Steven Mnuchin and the Federal Reserve to change the rules for the Main Street Lending Program to include operations like the Wilks businesses. The brothers then obtained a $35 million low-interest loan for ProFac Holdings LLC, a supplier of pumping equipment and services, according to records.

The Wilks brothers also donated $15 million to the super PAC Keeping the Promise, which backed Cruz’s 2016 presidential campaign.

https://www.huffpost.com/entry/tex-cruz-probe-pandemic-watchdog-fracking-loans_n_6018a246c5b653f644d689c9

[malaise]

1. CoupCoupCruz

is a crook - corrupt to the bone
Lock him up!

[safeinOhio]

2. Cruz is one of the best Senators

money can buy.

[UpInArms]

3. Anyone with a $15 million political donation

should be ineligible to receive a federal bailout.

[Wicked Blue]

4. +100 nt

[Maraya1969]

5. I so hope he can be charged with something. These corrupt politicians keep

getting away with everything!

[Yo_Mama_Been_Loggin]

6. Whoopsa daisy

Not good Rafael.

[MagickMuffin]

7. It looks as though the US government just acquired some fracking companies

How hard did Seditionist Cruz have to persuade Mnuchin?