Ted Cruz’s Goldman Sachs Problem
Since he only got elected to the Senate in 2012, he didn’t have to vote on the 2008 TARPbailout, which many Republicans originally opposed; and, even after arriving in Washington, he didn’t express much concern about the details of bank regulation.
.. his political maneuvering may have distracted lawmakers from scrutinizing a rider, pushed by Wall Street lobbyists, that was attached to the spending bill. The rider reversed one of the new regulations introduced after the financial crisis, which had forced big banks to move some of their risky financial derivatives out of their federally insured divisions and into separately capitalized subsidiaries.