The CEO in chief
Donald Trump and his lawyers and tax advisers appear to have made the best of a bad situation with their approach to walling off the White House from the Trump Organization. But let’s be clear, the bad situation only exists because Trump has refused to take the more ethically responsible approach of divesting his ownership interest in the sprawling empire.
The reason Trump won’t liquidate his assets — or place his holdings in a true blind trust? Well, his company lawyer offered several explanations for that decision this week — among them, that it would simply cost him and his family too much.
That indicates Trump is opting to protect his personal interests over the interest this nation has in a completely conflict-free presidency. The many safeguards in this arrangement notwithstanding, prepare for four years of accusations of impropriety lodged against the Trump family and the president himself, which will be a distraction of his own making.
As for the plan itself, it does minimize conflicts. The presidentwill place his assets in a trust, controlled by his two adult sons, Donald Jr. and Eric, who will manage the business and with whom he will not discuss business matters (take their word for it). The company will not pursue any foreign business deals, and will donate payments from foreign governments — for visits to his hotels, for example — to the U.S. Treasury to sidestep a constitutional restriction on payments from foreign governments to federal employees. The organization will employ an ethics adviser to vet domestic deals for conflicts before approving them.
The plan may minimize conflicts, but it hardly eliminates them. The president will remain fully aware of the impact his official actions will have on his family’s business interests.
Of course Trump wants it known that he isn’t legally required to avoid conflicts at all, effectively telling Americans that they ought to be grateful he’s doing this much. To wit, he demanded credit this week for declining a $2 billion real estate deal offered by a Dubai developer — two weeks before he assumes the presidency.
Trump’s lawyer insists this new arrangement represents a “complete separation” between the Trump Organization and the White House. A separation, yes. But far from complete.