"Ethics watchdogs call on Donald Trump to sever business ties."
Wertheimer's Political Money Report
November 17, 2016
A NOTE FROM FRED
 
Democracy 21 joined more than a dozen pro-democracy organizations and ethics experts in sending a letter to Trump today urging him to divest his business holdings and "called on Trump or an independent trustee to sell his assets, with proceeds invested in treasury bills and mutual funds that do not create conflicts of interest." In a separate statement, I said that "President-elect Trump is about to become a walking financial conflict-of-interest." For example, Trump’s business enterprise reportedly owes hundreds of millions of dollars to the Bank of China. This is a state-owned bank which means that, as a businessman, Trump owes this money to the Chinese government. How will this impact Trump’s official relationship with China in his capacity as president? If President-elect Trump continues with his current approach of turning over his business empire to his children to run, with no real protection to shield his assets from his government decision-making, Trump will, from the outset of his presidency, undermine the integrity and credibility of the office he holds. For more of my statement click here. 

"Donald Trump’s transition team appears to have deviated from its own ethics rule barring lobbyists whose work for Trump would overlap with any matters on which they lobbied in the previous year," says POLITICO. The code of conduct says a member of the transition team must "disqualify" from involvement in transition issues if they are engaged in regulated lobbying. "But at least eight transition team members have done work that appears to flout that internal rule, Senate records show." Read more

"Ethics watchdogs call on Donald Trump to sever business ties," says USA Today. "He should move quickly to shift his assets into a strict blind trust to avoid conflicts of interest that could imperil his administration’s integrity," says ethics groups. Fred said "Since he has the power to affect all policies in this country, there are bound to be almost daily potential conflicts of interests between his business holdings and his decisions as president.” Read more

Billionaire Tom Steyer says "money no issue" in his battle to fight Trump. Steyer told Reuters that he will "spend whatever it takes to fight President-elect Donald Trump's pro-drilling and anti-regulation agenda." Read more

Trump leases his DC hotel building from government he will soon be in charge of. Trump Organization leaseses the building from the General Services Administration. The lease with the GSA says "no … elected official of the Government of the United States … shall be admitted to any share or part of this Lease, or to any benefit that may arise therefrom,” according to a Washington Post op-ed. Read more

Top Democratic donors meet post-election. Major Democratic donors in the Democracy Alliance met in DC this week to regroup after spending millions on the election and "winding up with a resounding loss," according to Bloomberg. "The plan so far is stopping President-Elect Donald Trump from rolling back progress on the gamut of liberal issues." Read more

2016 FACT OF THE DAY

In the majority of 31 battleground Senate and House races, Democrats had a larger share of their funds come in from out-of-state donors than Republicans did. However, the Democrats won just 10 of these seats, according to Open Secrets. Read more

IN THE STATES
DC: The DC Council is debating a new act that would forbid PACs from raising unlimited funds in non-election years and ban businesses from donating to candidates who could influence their contracts with the city. Read more

NY: Gov. Andrew Cuomo said he is taking steps to reduce potential conflicts of interests and fraud in the awarding of billions in state contracts. Any day now, indictments are due to be handed down in a federal case concerning corruption in the awarding of a state project. Read more


By: Fred Wertheimer (@FredWertheimer) & Kathryn Beard (@KathrynBeard)
 
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