Donald Trump is TIME's person of the year. No matter how you feel about him as a person, it's hard to disagree with their decision. No other person has been so widely talked about or covered by the media in 2016. This widespread coverage is, in part, what lead Trump to becoming the 45th President of the United States.
The billionaire businessman will start leading the country on January 19th, 2017 leaving some to wonder just how much his business ventures may conflict with the needs of the American people. Wonder no more, we've outlined some of Donald Trump's potential conflicts of interest.
Trump's new hotel in Washington is rather controversial. Trump has to pay his annual rent to the government for the space, as it's in a historical building. But the President actually appoints the head of the agency that negotiates the cost of his annual rent.
Donald Trump's legal problems are so yuge that they require their own Wikipedia page. Trump allegedly doesn't like to settle his suits, especially when he's right, but the President just agreed to pay $25 Million in settlements regarding Trump University. This likely isn't the end of his legal troubles as Trump has acknowledged himself. It's not a good look for the President of the United States to be dealing with constant threats of legal action for his shitty business practices.
Trump's relationship with the Deutsche Bank is troubling. The bank is currently settling with the department of justice for their role in the 2008 financial crisis. Bad for the bank, worse for Trump. The Deutsche bank is also one of Trump's biggest money lenders, having leant at least 2.5 billion to companies affiliated with Mr. Trump since 1998. Whoops.
Trump's global business ties only make things worse. With plenty of business venture and money invested overseas, it wouldn't be out of the question for Trump to favor financial gain over the good of the country. That's a interesting way to approach foreign policy. Worse is if he uses his newfound political power to influence foreign investors.
Trump's infamous tax audit. You know the one he kept citing during the election? Well Trump now nominates the commissioner of the IRS. This means we'll see his taxes soon right... right?
These conflicts could possibly disappear if Trump releases ownership of his company, and puts his businesses into the hands of a blind trust. He's cited that he plans to divest ownership to his children, with the official announcement planned for December 15. But placing the business in the hands of your offspring isn't exactly a blind trust, is it?
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