Donald Trump’s presidency was marred by corruption, cronyism, incompetence and numerous other criminal allegations. These charges were centered around conflicts of interest related to his private sector activities. As he prepares for a possible second term, the spotlight on these questions has gotten brighter. Like Trump’s first term, scores of foreign officials from 20 separate countries found refuge at Trump’s hotels. This raised a whole host of ethical issues regarding the nature of his business ventures while serving in office.
According to reports, Trump’s private businesses accepted a jaw-dropping $78 million in foreign payments during his presidency. This massive financial windfall raises alarming questions about the impact foreign governments and other entities may have had on U.S. policies and decisions. Even the Secret Service agents assigned to protect Trump were put out by the costs. They overpaid premium rates that funneled at least $10 million into his personal bank account.
Critics contend that Trump used his status as president-elect to extort technology firms for his personal financial advantage. This maneuvering is said to have earned him millions in personal profit, creating even more confusion between his public responsibilities and private enrichment.
Perhaps the most shocking of these events was that perpetrated by the government of Qatar itself. On his 75th birthday, they gifted Trump an astonishing $400 million luxury jetliner! This plane was supposed to be Air Force One. Nonetheless, it raised ethical questions about gifts from foreign nations to a sitting president.
It is reported that the Trump family made $148 million dollars off this mad dash for access to presidential appearances. President Trump has made a habit of inviting oil executives to Mar-a-Lago. His proposed “deal” that they would donate $1 billion to his campaign in return for him relaxing environmental regulations has generated tremendous backlash.
Trump’s family has such a tight grip on his financial interests. He funneled all of his assets to a trust, controlled by his children, with himself as the only beneficiary. This structure empowered Trump to broker deals behind closed doors, all the while continuing to work at his businesses and serving as the most powerful man in the country. He became the only modern president to refuse to place his assets into a blind trust, raising questions about the separation of personal wealth from public service.
As donors to Trump’s unprecedentedly huge inaugural fund have found out, he’s a very welcoming recipient. He has been one of the active practitioners in what others have come to label as transactional politics. Donald Trump Jr., his firstborn, recently opened an invitation-only elite private members’ club, Executive Branch. In order to be accepted, prospective members have to pay a large ransom sign-in fee of $500,000.
At the beginning of his first term, Trump made it clear that he would pursue a different style of governance than his predecessors. Norman Eisen, a former ethics advisor, summarized this ethos with a tongue-in-cheek motto: “If my somewhat tongue in cheek motto for Obama was ‘If it’s fun, you can’t do it,’ then the motto of the Trump White House seems to be ‘If you can make a buck, grab it.’”
Legal experts had already expressed alarm at the prospect of a Trump administration. They noted that his approach has inundated watchdog groups and institutions meant to maintain ethical standards. Kathleen Clark remarked, “They have mastered the technique of flooding the zone – doing so much so fast that they are overwhelming the ability of ethics groups and institutions to respond.”
The consequences of these actions go beyond ethics. They hit at the heart of good governance and public trust. Norman Eisen stated, “It’s over the line, unlawful, corrupt and unethical. It is un-American.” He went on to decry these practices as the “looting of America.” That really, to me, reflects a huge shift in how we think about public office.
Danielle Caputo first gave us the scoop on Trump’s trust deal. She noted that moving assets into a family member’s hands quickly invites inquiries into the ways in which personal interests can merge with public duties. “By giving over to your son, you are immediately raising questions about how separate you are going to be from the success of this business,” she explained.
The consequences of these allegations could be far-reaching for the communities that placed their faith in Trump’s administration to protect their interests. These are the same communities that this administration have made promises to, that they would have their back. Donald Trump assured them that they will find their faith betrayed. This betrayal will irreparably poison their well-being for years to come.
As the 2024 election approaches, the narrative surrounding Trump’s business dealings poses a critical challenge for voters attempting to discern the integrity of their leaders. While some supporters may view Trump’s financial acumen favorably, critics argue that it undermines the foundational principles of democratic governance.