Mrs. Cruz’s career raises the question of the relationship between Ted Cruz and Goldman Sachs.
The headline at Bloomberg.com raises an interesting point: “Ted Cruz Omits Goldman Sachs From Description of Bread-Baking Wife.”
Ted Cruz, kicking off his 2016 campaign for the U.S. presidency, extolled his wife’s entrepreneurial spirit by telling of her grade-school bakery business. He didn’t mention the 10-year career at Goldman Sachs Group Inc. she just put on hold.
Cruz, a Republican senator from Texas, became the first major-party candidate to formally enter the race on Monday. He was joined on stage by his wife, Heidi, and their two daughters, Caroline and Catherine, after he told a crowd of supporters about Heidi’s Bakery, her childhood venture in California.
Cruz aides said he plans to emphasize the role powerful women played in shaping his life as he runs for president. That may be complicated by his wife’s profession as an adviser to wealthy families at a firm that finished last among the 100 most-visible U.S. companies in Harris Poll’s most recent annual ranking of corporate reputations.
The reporter, Margaret Talev, goes on to address Cruz’s relationship with Goldman Sachs through his wife Heidi as a serious issue because of Goldman Sachs’ reputation as a corrupt institution with powerful connections with (or chokeholds on) the government. It is interesting to know that people outside my own political and sociological group also see this as a problem.
So what do we make of this link between Ted Cruz and Goldman Sachs?
Heidi Cruz, a Harvard Business School graduate who worked in President George W. Bush’s administration, joined New York-based Goldman Sachs in 2005 and was promoted to managing director, the firm’s second-highest rank, in 2012. She serves as regional head of the Houston office in the private wealth-management unit, which serves individuals and families who have on average more than $40 million with the firm.
You will have to make your own decision but my feeling is that, if I agree with Ted Cruz’s platform enough to vote for him, I’m not going to let worries about his connections to Goldman Sachs keep me from doing so. The relationship between Ted Cruz and Goldman Sachs is no more (or just as) problematic as his wife’s or his own education at Harvard Law School. All the evidence suggests that they went through their time in Harvard with their values intact. They have made real enemies among the wealthy class in the Republican Party. It is hard for me to believe that is all a cover story.
Of course, it may be true that Ted Cruz doesn’t see how big and basic a problem the Federal Reserve really is. Again, you will have to look at his platform and try to figure out how he will govern. But I don’t think you need to worry about him being some kind of double agent for G-Sax Nation.