Everything about President - elect Donald J. Trump is , to utilise a favourite media term in junction with him , unprecedented . His underdog victory on Nov. 8 was unprecedented . His gun trigger - fingerTweeting styleis unprecedented . But more than anything , his personal wealthiness , at anestimated $ 3.7 billion , is unprecedented for an elect functionary in the United States governing .
Trump’ssprawling real - estate empireincludes high - end office buildings , luxury hotel and golf game courses work up with investiture money from Russia , China and Germany . Glass - and - gold buildings bear the Trump name stand in India , the Philippines , Panama , Uruguay andsoon , Saudi Arabia .
Government transparency radical discourage that Trump ’s complex global portfolio and snug external business relationship create a curious potency for conflicts of interest .
" That ’s a huge job , " says Aaron Scherb , theater director of legislative affairs withCommon Cause , a nonprofit that promotes accountable governing . " Donald Trump , Jr. admit that a mass of [ his father ’s ] projects are bankrolled by Russian go-ahead . How will this bear upon his panorama on alien policy toward Russia ? "
trumpet insists that he will turn over full mastery of the Trump Organization to his adult children and focus his attention on governing the U.S. But in distinctive common law - busting fashion , he refuses to follow the 50 - year presidential tradition of " build a wall " ( wink ) between his business interests and his presidential duties .
" The Chief Executive ca n’t have a struggle of interest group , " Trump recently toldThe New York Times . " In theory , I can be president of the United States and run my business enterprise 100 percent . "
And he ’s dead right . agree to the1978 Ethics in Government Act , all high - ranking federal official are require to let out their financial holdings and recuse themselves from any politics line in which they , their phratry or close familiar have a financial interestingness . All Union official , that is , except the President of the United States , the vice President of the United States , appendage of Congress and Union judges .
Even though the law does n’t take it , every president since Lyndon Johnson has prefer to either trade off all their investments before taking office or seal them in a blind trust to debar even the appearance of profiting from the presidency .
What ’s a Blind Trust ?
" When President Reagan make office , he liquidated all of his holdings and move around them over to a trust financial professional , " enjoin Peter Bloom , a Washington D.C. lawyer . " And once he liquidated his holdings and placed them into a blind confidence , he had no idea what assets were being book inside the trust . "
According to therules of a blind trust , the owner of the assets can have no pre - existent personal or business relationship with the regent . There can be no communication between the proprietor and the legal guardian . And the owner must have no idea what stocks , bonds and other investments are held in the trust . That last one ’s predict the " no peeking " clause .
During theRepublican principal argument , Trump read he would prove a type of " blind combine " in which his sons and daughters and his business executives would unravel the Trump Organization without his participation .
" By definition , that ’s not a unsighted trust , " suppose Scherb of Common Cause . " It ’s neither unsighted nor trusty . "
Last workweek , Common Cause and a coalition of government transparence advocatessent a letterto President - elect Trump urging him to amply divest himself of any financial relationship with the Trump Organization and blank space all of his asset into a true blind trustfulness .
" Should President - elect Trump act over the management of his business pursuit to his three adult children while keep on ownership , those conflicts will not go away , " the letter states . " In fact , such an organisation could peril the President - elect . As owner of the business , he would stay lawfully liable for any violations of the natural law by his businesses . "
If the 45th president fails to legally separate himself from his company , not only could outflank confront potential lawsuits like the one recentlysettled for $ 25 millionagainst Trump University , but he might run afoul of a little - known constitutional clause .
The so - calledemoluments clausein Section 1 , clause 9 of the Constitution banish any federal office bearer from pick up " emolument " — compensation or pay for services — from foreign governments . Legal student say that any money President Trump earns from declaration with strange governments could settle under this article , specially if those earnings are far above the marketplace value of the attribute .
And as Trump recently told a roomful of New York Times editors and reporters , his election has certainly been a blessing for business .
" The brand is certainly a hot stigma than it was before . I ca n’t help that , but I do n’t care , " Trump said . " The only affair that matters to me is running our country . "
If that ’s indeed Trump ’s sole antecedency , protagonism group assert that he sell his share of the sept business to his children or liquidate his belongings and put them in a truly blind trustingness . But for Trump to bend to this type of public pressure would be , once again , unprecedented .
