NYT: Records Have Emerged That Show Trump Remains Closely Tied to His Company

[kpete]

Just days before his inauguration, President-elect Donald J. Trump stood beside his tax lawyer at a Midtown Manhattan news conference as she announced that he planned to place his vast business holdings in a trust, a move she said would allay fears that he might exploit the Oval Office for personal gain.

However, a number of questions were left unanswered — including who would ultimately benefit from the trust — raising concerns about just how meaningful the move was.

Now, records have emerged that show just how closely tied Mr. Trump remains to the empire he built.

“While the president says he has walked away from the day-to-day operations of his business, two people close to him are the named trustees and have broad legal authority over his assets: his eldest son, Donald Jr., and Allen H. Weisselberg, the Trump Organization’s chief financial officer. Mr. Trump, who will receive reports on any profit, or loss, on his company as a whole, can revoke their authority at any time.”

“What’s more, the purpose of the Donald J. Trump Revocable Trust is to hold assets for the ‘exclusive benefit’ of the president. This trust remains under Mr. Trump’s Social Security number, at least as far as federal taxes are concerned.”

“While the trust structure, outlined in documents made public through a Freedom of Information Act request by ProPublica, may give the president the appearance of distance from his business, it drew sharp criticism from experts in government ethics.”


https://www.nytimes.com/2017/02/03/us/politics/donald-trump-business.html
https://politicalwire.com/2017/02/03/records-show-trump-still-closely-tied-company/

[TeamPooka]

1. Release your tax returns Trump!

[unblock]

2. lol it's not even an irrevocable trust!

this is a complete joke as far as ethics go.


imagine how republicans' heads would explode if hillary had done something even remotely comparable.

[dalton99a]

5. +1

[uponit7771]

14. +1

[Abouttime]

15. Yes

Is this an impeachable offense?

[unblock]

17. if they want it to be

but they don't, at least not yet.

[blue neen]

3. Lord, Trump is such a liar.

[dalton99a]

4. It was all lies and bullshit

as usual

[ProudLib72]

6. But Gingrich said I could...

Because tRump is a special case.

[Cary]

7. Geez, what a surprise

We need to keep railing on this asshole.

[pokerfan]

8. I'm shocked

I'm shocked, shocked to find that Trump is a tiny-fingered dissembling dick-head!

[Solly Mack]

9. No one will hold him accountable.

And when government officials aren't held accountable, the more they can and will get away with.

The more they get away with, the weaker our nation becomes. In terms of rights, a voice, the ability to effect change.

Corruption can be found in all governments - but accountability matters in keeping a check on it.

No consequences means anything goes.

[benld74]

10. Grifter

[Stonepounder]

11. The think that really scares me more than anything

is that the GOP doesn't care that the President is in obvious violation of the Constitution of the United States. They don't care that the 8 countries he banned have not sent one single terrorist to the United States, while the countries he didn't ban, who have send terrorists, are ones where he has significant business interests. So they are in total violation of their own oath of office to 'protest and defend' the Constitution.

We now have two branches of government who have decided they aren't interested in the Constitution.

That is scary.

[Nwgirl503]

12. Just like with ALL of his business dealings

Anyone who knows about this knows the major differences between a revocable trust and a blind trust. Unfortunately 99% of his supporters probably can't spell but one of those words and if they can spell that one word, it's probably because someone in their family is on SS for it.

Jeezus. I am turning into a horrible human being.

[sarcasmo]

13. #Impeach45

[Mr. Ected]

16. I don't understand. These were the kind of infractions that made Hillary unsuitable for POTUS

Why don't Trump supporters apply the same analysis and treatment to Mr. Trump?

This is incongruous.

[Squinch]

18. Kick

[spanone]

19. K&R...