Re: ‘A recipe for scandal’: Trump conflicts of interest point to constitutional crisi
What legal/Constitutional obligation exists for Trump to place his estate in a blind trust? I have yet to see anyone point to such legal obligation being imposed upon our president (and vice president)
My understanding of the function of a blind trust is that it protects us from harm as a result of any infractions of the Emoluments Clause, and it inoculates the President against suspicion or even accidentally breaking the Emolument Clause.
But there is no law, rule, or regulation which compels a president-elect to place his holdings in a blind trust
Now, i recognize to do so would eliminate any potential for the perception of/or actual self dealing while exercising his presidential powers, but there is no legal obligation for Trump to (do so) absent himself from his estate, while also remaining compliant with the emoluments clause.
I see no reason Trump should have to sell all of his businesses because people that didn't vote for him want him to. It isn't legally required. It isn't constitutionally required. I think he would be stupid to. The only people that want him to are the ones that gave a pass to the ethically bankrupt previous administration and voted for Clinton. Meh, not a big deal.
Let's tackle the easiest thing first.
Cardinal, you're correct from an ethical standpoint. As President(-elect), Trump should place a vast majority of his financial instruments (i.e., stocks/options, bonds, mutual funds, etc.) and income-producing properties (i.e., licensing agreements and physical real property holdings, partineships) in a blind trust to inoculates himself against any suspicion or even
accidentally breaking the Emolument Clause where it could be viewed that he either used his position of power for profit or allowed himself to be coerced and, thus, uses his position of power for his own self-interest.
Now, placing his assets or other financial interest in a
blind trust doesn't mean he'd have to sell everything he owns. Just enough to reasonable ensure he can't be coerced. How much and to what degree is determined by federal ethics boards/comission and the trustee. But in establishing said blind trust, (some of) Trump's assets would be sold off, but others would be purchased. The point here being that as long as Trump remains POTUS, he'd never know exactly what he owned, what he owes and to whom he owes a debt to. This follows the axiom, "The less you know, the better off you'll be."
To justabubba, you are correct in that there is no law, rule, regulations nor Constitutional requirement that would compel (mandate) any federal official (an "
employee" towhich the President and Vice President are defined as under the law) to place his holdings in a blind trust. However, under U.S. law,
Title 5, Code 7342(a)(3) and (5), the President cannot accept gifts (to include cash or cash payments..."emoluments") above the minimum value ($100) without the consent from Congress* (subparagraph (c)(1), except when said gift is deemed to be(come) the "property of the United States" or as otherwise authorized by law.
*Also see U.S. Constitution, Article I, Section 9, Clause 8
To NonoBadDog, you're right. Trump shouldn't be forced to sell all of his business interests/assets. But no one's asking him to. All the people are asking him to do - some who voted for him and those who did not - is as POTUS(-elect) not to place himself in a position where there is a clear and obvious conflict of interest between himself and his business/financial interest where he could potentially use his position of power for his own self-interest or put those interest above that of the nation. If people can't see the inherent problem here, then you really aren't part of a "well informed electorate".
Note: I should also point out that
Title 18, U.S. Code 208(a) also makes it clear that the POTUS's financial interest cannot be "so substantial as to be deemed likely to affect the integrity of the services which the government may expect from such officer or employee". So, again, it's really up to the Dir., Office of Gov't Ethics to make such a determination as to how substantial Trump's financial interests are and if they would pose a serious or significant conflict of interest.
