Presidential candidate Sen. Ted Cruz (R-TX) on Tuesday evening criticized the “crony capitalism” at Goldman Sachs, where his wife is employed.
Bloomberg News’ Mark Halperin asked Cruz whether Goldman Sachs has a positive or negative impact in the U.S.
“Like any institution, there’s some of both,” Cruz responded. “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.”
Cruz said that Goldman Sachs has gotten bigger since Congress passed the Dodd-Frank Act, and criticized the bank for seeking special treatment from the government.
“Because, like many other players on Wall Street and big business, they seek out and get special favors from government,” he said. “I think they’re entitled to practice their business, but without subsidies or special benefits.”
Cruz’s wife, Heidi Cruz, worked at Goldman Sachs as a managing director, but recently took unpaid leave from the firm to help her husband with his presidential campaign.
Watch Cruz’s interview below. He begins talking about Goldman Sachs at the 5 minute mark.