webfact Posted January 11, 2017 Share Posted January 11, 2017 Trump says won't divest from his business while president By Andy Sullivan, Emily Stephenson and Steve Holland REUTERS U.S. President-elect Donald Trump speaks during a news conference in the lobby of Trump Tower in Manhattan, New York City, U.S., January 11, 2017. REUTERS/Lucas Jackson WASHINGTON (Reuters) - U.S. President-elect Donald Trump said on Wednesday he would maintain ownership of his global business empire but hand off control to his two oldest sons while president, an arrangement that watchdogs said would not prevent conflicts of interest in the White House. Trump told a news conference he would resign from all positions overseeing his hotels, golf courses and hundreds of other businesses and move his assets into a trust to help ensure that he will not consciously take actions as president that would benefit him personally. Trump, a Republican, is under pressure to distance himself from his businesses before he moves into the White House on Jan. 20. Unlike other U.S. government officials, the president is not required by law to steer clear of conflicts of interest. "I could actually run my business and run government at the same time. I don't like the way that looks, but I would be able to do that if I wanted to," Trump said. Ethics experts said the arrangement did not go far enough. "Mr. Trump's ill-advised course will precipitate scandal and corruption," said Norman Eisen, a former White House ethics adviser under Democratic President Barack Obama. Walter Shaub, director of the U.S. Office of Government Ethics, said on Wednesday in a speech at a Washington think tank that his office recommends Trump "divest his conflicting assets" to avoid conflicts. Trump appears to be still involved with his business while preparing to take office, saying he had turned down a $2 billion development deal in Dubai he had been offered over the weekend. The company that made the proposal, DAMAC, confirmed the discussions had taken place. The Trump Organization will not enter into any new overseas deals while Trump is president and will only undertake domestic projects after a company ethics adviser has approved them, said Trump adviser Sheri Dillon. Details of how the ethics adviser would operate, as well as several other aspects of the arrangements, were not immediately clear. Trump will only know of those deals if he hears about them through the news media, said Dillon, a lawyer at Morgan Lewis who focuses on tax and ethics. Trump's daughter, Ivanka, will have no further involvement in managing the organization or her own clothing brand. Ivanka Trump said on her Facebook page that she would take time off to settle her family into their new home in Washington. The president-elect has named her husband, Jared Kushner, to a senior advisory role in the White House. Since Trump sold all his stocks last year, the Trump trust will hold only business assets and liquid assets such as cash, Dillon said. A financial disclosure document he filed in May also showed loans from lenders such as Deutsche Bank and Ladder Capital. Trump will not have to file a new disclosure form until 2018. Many other ethics experts, including the U.S. Office of Government Ethics, have urged Trump to completely divest or set up a blind trust for his assets. In a blind trust, the owner does now know what the holdings are or how the assets are managed. Trump's oldest sons, Eric and Donald Jr., will be running his business, so the arrangement does not meet that standard. Dillon said that was not a realistic possibility for a family-owned company and any sudden divestment would hurt Trump financially. Unlike liquid assets like stocks and investment funds, much of Trump's wealth comes from office towers and other real estate that cannot be sold easily, as well as licensing deals that could be difficult to unwind. Stripped of the Trump name, many of these assets would lose much of their value, Dillon said. "President-elect Trump should not be expected to destroy the company he built," she said. Dillon dismissed concerns that Trump could violate an anti-bribery provision in the U.S. Constitution, known as the Emoluments Clause. That applies to gifts, but not business transactions like renting a hotel room, she said. Nevertheless, profits generated at Trump's hotels by foreign governments will be donated to the U.S. Treasury, she said. (Additional reporting by Alexander Cornwell in Dubai; Editing by Anna Driver, Grant McCool and James Dalgleish) -- © Copyright Reuters 2017-01-12 Link to comment Share on other sites More sharing options...
NanLaew Posted January 11, 2017 Share Posted January 11, 2017 By not embracing a blind trust to manage his businesses for the next 4 to 8 years, he is asking for more blind faith on behalf of the US electorate. He also made it clear during this same speech that his tax returns will never, ever become public. Link to comment Share on other sites More sharing options...
optad Posted January 12, 2017 Share Posted January 12, 2017 Signals exactly where his presidency is going. Myopic at every juncture and self serving. The very refusal here, attracts lucrative unethical advances to be made to his mignons. US politics faces a such crisis of orientation. At no point can you turn to predictable, principled based positions in power with certainty. Still stunned the globe has Trump. It will be an eventful 4 year term. Link to comment Share on other sites More sharing options...
stevenl Posted January 12, 2017 Share Posted January 12, 2017 By not embracing a blind trust to manage his businesses for the next 4 to 8 years, he is asking for more blind faith on behalf of the US electorate. He also made it clear during this same speech that his tax returns will never, ever become public.The electorate has blind faith. They have believed all his nonsense and outright lies in the campaign, that won't change.Sent from my ROBBY using Thaivisa Connect mobile app Link to comment Share on other sites More sharing options...
mtls2005 Posted January 12, 2017 Share Posted January 12, 2017 What happened to his "half-blind" trust? Link to comment Share on other sites More sharing options...
DM07 Posted January 12, 2017 Share Posted January 12, 2017 ...and who wouldn't believe this beacon of honesty?Sent from my iPhone using Thaivisa Connect Link to comment Share on other sites More sharing options...
Andaman Al Posted January 12, 2017 Share Posted January 12, 2017 It will just make it easier to impeach him. Link to comment Share on other sites More sharing options...
klauskunkel Posted January 12, 2017 Share Posted January 12, 2017 Quote "Mr. Trump's ill-advised course will precipitate scandal and corruption," Meaning the White House will go where the Senate and Congress already are. Link to comment Share on other sites More sharing options...
Silurian Posted January 12, 2017 Share Posted January 12, 2017 Don't worry, the con-man PEOTUS will totally remove himself from his businesses by handing control over to his sons. I am sure he will pinkie swear never to talk business with his sons. But it won't stop him from taking any of the profits...he still wants those. Trump Says Sons Will Take 'Complete and Total Control' of the Business http://abcnews.go.com/Politics/trump-sons-complete-total-control-business/story?id=44705899 Link to comment Share on other sites More sharing options...
kamahele Posted January 12, 2017 Share Posted January 12, 2017 His presidency has doomed the US to 4 years of disaster and embarrassment if we can survive that long with this con man at the helm. A big thanks to his supporters for their collective ignorance and their complete disregard for the well being of our country. The best we can hope for is that the Republicans overthrow him and allow his homophobic, religious charlatan of a Vice President to govern. Sad. Link to comment Share on other sites More sharing options...
mtls2005 Posted January 12, 2017 Share Posted January 12, 2017 Pee-OTUS seems to have confused emollient with emolument? Maybe he sees both as "lubrication"? Link to comment Share on other sites More sharing options...
mike324 Posted January 12, 2017 Share Posted January 12, 2017 Well he taught his daugher well, already taking advantage of his fathers position to benefit her company.... ethics, they have none - it already started! Link to comment Share on other sites More sharing options...
Silurian Posted January 12, 2017 Share Posted January 12, 2017 The fraudulent PEOTUS just thumbs his nose at any potential ethics violations and just deflects any questions away. Government ethics chief blasts Trump’s business plan as ‘meaningless’ http://www.marketwatch.com/story/government-ethics-chief-blasts-trumps-business-plan-as-meaningless-2017-01-11? Link to comment Share on other sites More sharing options...
chilli42 Posted January 12, 2017 Share Posted January 12, 2017 If you believe for a second it will be "hands off" then you must still believe in the Easter Bunny and Santa Claus. People like Trump and in fact most senior level executives are paranoid control freaks ... they have to be, it's a job requirement. A leopard will not change its spots. He will use his position, influence and inside information to direct his "empire" through his surrogates. Link to comment Share on other sites More sharing options...
SaintLouisBlues Posted January 12, 2017 Share Posted January 12, 2017 13 minutes ago, chilli42 said: If you believe for a second it will be "hands off" then you must still believe in the Easter Bunny and Santa Claus. People like Trump and in fact most senior level executives are paranoid control freaks ... they have to be, it's a job requirement. A leopard will not change its spots. He will use his position, influence and inside information to direct his "empire" through his surrogates. Their mindset will be "What would Donald do?" Link to comment Share on other sites More sharing options...
elgordo38 Posted January 12, 2017 Share Posted January 12, 2017 Score so far Trump 1 America 0 Link to comment Share on other sites More sharing options...
Thakkar Posted January 12, 2017 Share Posted January 12, 2017 3 hours ago, Silurian said: The fraudulent PEOTUS just thumbs his nose at any potential ethics violations and just deflects any questions away. Government ethics chief blasts Trump’s business plan as ‘meaningless’ http://www.marketwatch.com/story/government-ethics-chief-blasts-trumps-business-plan-as-meaningless-2017-01-11? Worth reading the full speech. This is a brief excerpt. The full speech can be found here:https://www.oge.gov/web/OGE.nsf/0/DCC328BD6DB515CC852580A50079449D/$FILE/Remarks of W M Shaub Jr.pdf Remarks of Director, U.S. Office of Government Ethics I wish circumstances were different and I didn’t feel the need to make public remarks today. You don’t hear about ethics when things are going well. You’ve been hearing a lot about ethics lately. I need to talk about ethics today because the plan the President-elect has announced doesn’t meet the standards that the best of his nominees are meeting and that every President in the past four decades has met. My hope is that, if the Office of Government Ethics can provide some constructive feedback on his plan, he may choose to make adjustments that will resolve his conflicts of interest. I’ll limit the scope of my remarks today, and I won’t be talking about nominees whose ethics packages have not gone to the Senate. With that limitation, there’s still much that can be said. For starters, I’m happy to report that it’s not all bad news. OGE has been able to do good work during this Presidential transition. I’m especially proud of the ethics agreement we developed for the intended nominee for Secretary of State, Rex Tillerson. Mr. Tillerson is making a clean break from Exxon. He’s also forfeiting bonus payments worth millions. As a result of OGE’s work, he’s now free of financial conflicts of interest. His ethics agreement serves as a sterling model for what we’d like to see with other nominees. He clearly recognizes that public service sometimes comes at a cost. The greater the authority entrusted in a government official, the greater the potential for conflicts of interest. That’s why the cost is often greater the higher up you go. <snip> T Link to comment Share on other sites More sharing options...
Langsuan Man Posted January 12, 2017 Share Posted January 12, 2017 (edited) No matter what he said the egotistical charlatan started off with the claim that he is so superior in intellect and ability that he could really do both, run the country and his business This clown's ego knows no bounds Edited January 12, 2017 by Langsuan Man Link to comment Share on other sites More sharing options...
kevkev1888 Posted January 12, 2017 Share Posted January 12, 2017 There are to be NO new deals made outside of the US. ZERO, whats the issue? Link to comment Share on other sites More sharing options...
Srikcir Posted January 12, 2017 Share Posted January 12, 2017 10 hours ago, webfact said: "I could actually run my business and run government at the same time. Because Trump treats them both as his personal fiefdom. Make Trump Great Again. Link to comment Share on other sites More sharing options...
JetsetBkk Posted January 12, 2017 Share Posted January 12, 2017 7 hours ago, Silurian said: The fraudulent PEOTUS just thumbs his nose at any potential ethics violations and just deflects any questions away. Government ethics chief blasts Trump’s business plan as ‘meaningless’ http://www.marketwatch.com/story/government-ethics-chief-blasts-trumps-business-plan-as-meaningless-2017-01-11? He doesn't have to do anything with his businesses. He can run them and be president if he wants. It's the law. Link to comment Share on other sites More sharing options...
ilostmypassword Posted January 12, 2017 Share Posted January 12, 2017 13 minutes ago, JetsetBkk said: He doesn't have to do anything with his businesses. He can run them and be president if he wants. It's the law. Yes absolutely. Because what's legal and what's ethical always coincide perfectly in the USA. Or it could be that the people who passed this law never thought a President could be so morally empty that he would even consider not putting an iron wall between himself and his business interests. I mean, it's not like he ever paid a judgement for committing fraud, right? Link to comment Share on other sites More sharing options...
Andaman Al Posted January 12, 2017 Share Posted January 12, 2017 4 hours ago, kevkev1888 said: There are to be NO new deals made outside of the US. ZERO, whats the issue? Funny, after being let in to meet the Prime Minister of Japan with her Daddy at a meeting she should never have been in , Ivanka Trump shortly afterwards flew to Japan to close a big deal there which needed the approval of a Japanese Government Bank. The deal had previously stalled, then suddenly the Government Bank reached a 'solution'. Do you think any of this is going to stop? Whether it is PeeOTUS or his 3 little piggies, the gravy train has not even started rolling yet. Link to comment Share on other sites More sharing options...
kevkev1888 Posted January 12, 2017 Share Posted January 12, 2017 (edited) 47 minutes ago, Andaman Al said: Funny, after being let in to meet the Prime Minister of Japan with her Daddy at a meeting she should never have been in , Ivanka Trump shortly afterwards flew to Japan to close a big deal there which needed the approval of a Japanese Government Bank. The deal had previously stalled, then suddenly the Government Bank reached a 'solution'. Do you think any of this is going to stop? Whether it is PeeOTUS or his 3 little piggies, the gravy train has not even started rolling yet. PeeOTUS. You are PeeTHETIC. Pissing in the wind. Edited January 12, 2017 by kevkev1888 Link to comment Share on other sites More sharing options...
ilostmypassword Posted January 12, 2017 Share Posted January 12, 2017 President-elect Donald J. Trump said Wednesday that he would place his vast business empire in a trust controlled by his two oldest sons and take other steps in an attempt to remove any suggestion of a conflict of interest with his decisions as president. But he said he would not sell his holdings. Hours later, the government’s top ethics monitor said the plan was wholly inadequate and would leave the president vulnerable to “suspicions of corruption.” The unusual public criticism from Walter M. Shaub Jr., director of the Office of Government Ethics, followed Mr. Trump’s most detailed explanation yet of his plans to distance himself from the global business operations of the Trump Organization. https://www.nytimes.com/2017/01/11/us/politics/trump-organization-business-conflicts.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=b-lede-package-region®ion=top-news&WT.nav=top-news Link to comment Share on other sites More sharing options...
Andaman Al Posted January 12, 2017 Share Posted January 12, 2017 1 hour ago, kevkev1888 said: PeeOTUS. You are PeeTHETIC. Pissing in the wind. You need some anger management kevkev1888, one can almost hear the steam from your ears as your blood pressure rises. Your 'golden' boy does not need the likes of you to protect and defend him I am sure. PeeOTUS will stick with him for 4 years and beyond. Wait till SNL get on the case (which they would not have done until he said he was a 'germophobe'. Pure comedy gold, almost like watching your anger. Link to comment Share on other sites More sharing options...
KarenBravo Posted January 12, 2017 Share Posted January 12, 2017 Not anger, but frustration that the rest of the world can't see what kevkev1888 sees; that Trump is America's saviour and that he's a genius (gag, retch). Link to comment Share on other sites More sharing options...
Andaman Al Posted January 12, 2017 Share Posted January 12, 2017 31 minutes ago, ilostmypassword said: President-elect Donald J. Trump said Wednesday that he would place his vast business empire in a trust controlled by his two oldest sons and take other steps in an attempt to remove any suggestion of a conflict of interest with his decisions as president. But he said he would not sell his holdings. Hours later, the government’s top ethics monitor said the plan was wholly inadequate and would leave the president vulnerable to “suspicions of corruption.” The unusual public criticism from Walter M. Shaub Jr., director of the Office of Government Ethics, followed Mr. Trump’s most detailed explanation yet of his plans to distance himself from the global business operations of the Trump Organization. https://www.nytimes.com/2017/01/11/us/politics/trump-organization-business-conflicts.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=b-lede-package-region®ion=top-news&WT.nav=top-news Not only would he set up the trust and businesses for his sons to run he actually said something to remind them that they are responsible to him "when I come back in 8 years if they have not done a good job I will tell them "you're fired". Trumps son even tweeted later "no pressure then". So actually Trump is not detached from the businesses at all and when he says "My children will be in charge but we will not talk about the business, not even at the dinner table", does he really think that anyone but deplorable will believe that? The Son's have to build the businesses up for the return of the PeeOTUS upon leaving office. And NO more business deals overseas! REALLY!!! Link to comment Share on other sites More sharing options...
Morch Posted January 12, 2017 Share Posted January 12, 2017 Quote Trump appears to be still involved with his business while preparing to take office, saying he had turned down a $2 billion development deal in Dubai he had been offered over the weekend. The company that made the proposal, DAMAC, confirmed the discussions had taken place. DAMAC Properties https://en.wikipedia.org/wiki/DAMAC_Properties Trump International Golf Club, Dubai http://www.trumpgolfdubai.com/ Trump's Dubai real estate partner strips his image, name from luxury golf project site http://www.reuters.com/article/us-usa-election-trump-dubai-idUSKBN0TT29P20151210 Inside the Squalid Living Conditions for the Migrants Building Trump International Golf Club in Dubai https://www.vice.com/en_us/article/vice-on-hbo-dubai-workers-trump-international-golf-club Quote The Trump Organization will not enter into any new overseas deals while Trump is president Still doesn't answer how existing business ventures abroad will be handled. Link to comment Share on other sites More sharing options...
kevkev1888 Posted January 12, 2017 Share Posted January 12, 2017 7 hours ago, Andaman Al said: You need some anger management kevkev1888, one can almost hear the steam from your ears as your blood pressure rises. Your 'golden' boy does not need the likes of you to protect and defend him I am sure. PeeOTUS will stick with him for 4 years and beyond. Wait till SNL get on the case (which they would not have done until he said he was a 'germophobe'. Pure comedy gold, almost like watching your anger. Your continued Pee Pee jokes just make you look stupid and infantile. Link to comment Share on other sites More sharing options...
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