Jan 11 - Trump says won't divest from his business while president

most viewed right now
 97
Video inside I’ll take “things a brotha wouldn’t do” for $200 Alex
115 comments
@wild'ish
most viewed right now
 91
Video inside Russians catching up on the the Culture too now, Jheeeeeeeze!!
16 comments
@thotsdimesetc
most viewed right now
 78
May 20 - gas is now $3 a gallon on average
46 comments
@news
most viewed right now
 56
Image(s) inside Arab girls are leveling up too(got a booty and curves)
60 comments
@thotsdimesetc

section   (0 bx goons and 1 bystanders) Share this on Twitter   Share this on Facebook
 

Props Slaps
 1 year ago '05        #1
571 pageviews
5 comments


phantomnation 2350 heat pts2350
space
avatar space
space
$8,336 | Props total: 28227 28227
Jan 11 - Trump says won't divest from his business while president
 

 
image

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 hotels, golf courses and hundreds of other businesses and move his a.ssets 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.
ADVERTISING

"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 Norm Eisen, a former White House ethics adviser under Democratic President Barack Obama.

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.

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, is to have no further involvement with management authority in the group, she said. Trump has appointed 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 a.ssets and liquid a.ssets such as cash, Dillon said.

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 a.ssets. In a blind trust, the owner does now know what the holdings are or how their a.ssets are managed. Trump’s oldest sons 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 a.ssets 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 a.ssets 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)


Source: visit this link http://in.reuters.com/art .. source=Twitter
hot topic gave props
 

5 comments for "Jan 11 - Trump says won't divest from his business while president"

 1 year ago '11        #2
Sin 1464 heat pts1464
space
avatar space
space
$21,835 | Props total: 54182 54182
not surprised at all,

he was elected president without releasing his tax returns


Last edited by Sin; 01-11-2017 at 12:35 PM..
Aesop730 and 3 others gave props
 
 1 year ago '04        #3
erickonasis 21 heat pts21
space
avatar space
space
$28,764 | Props total: 22627 22627
 phantomnation said:
"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.
heretic shae and 2 others gave props
 
 1 year ago '16        #4
OWPE 57 heat pts57
space
avatar space
space
$4,133 | Props total: 9827 9827

Unlike other U.S. government officials, the president is not required by law to steer clear of conflicts of interest.

[pic - click to view]




That says it all right there. He doesn't have liquid a.ssets that you can just sell and some of his a.ssets would lose value if he strips off the name Trump from them. He also has licenses that he can't just expire anytime he wants.
phantomnation and 1 others gave props
 
 1 year ago '16        #5
NYFASHIONKING 60 heat pts60
space
avatar space
space
$2,447 | Props total: 5659 5659
He is brilliant. The presidency will simply be marketing and advertising for Trump Organization and KRE and provide unlimited access to any and everything he thinks of. If he turned down $2B, you best believe he felt he shoulda received $6B.

Gotta love it.
Home      
  
 

 






most viewed right now
 61
Drake interview on Joe Budden podcast soon?
65 comments
2 days ago
@hiphop
most viewed right now
 31
Video inside T.I. and Rihanna playing Illuminati games
105 comments
19 hours ago
@hiphop
most viewed right now
 30
Most dangerous gym fails :obamalmao:
74 comments
19 hours ago
@misc
most viewed right now
 29
Video inside The Deep Dark Web
137 comments
2 days ago
@wild'ish
most viewed right now
 19
Image(s) inside Twitter exposed SZA as FAKE Again ( CAREER FINALLY OVER?)
206 comments
19 hours ago
@hiphop
most viewed right now
 17
Los Angeles Hip Hop vs Atlanta Hip Hop
191 comments
19 hours ago
@hiphop
most viewed right now
 16
Deadpool 2 chokes at the Box Office. Underperming at 125 mil
146 comments
19 hours ago
@movies
most viewed right now
 15
🔥🔥🔥The Notorious B.I.G. - You're Nobody Till Somebody ..
104 comments
19 hours ago
@hiphop
back to top
register contact Follow BX @ Twitter Follow BX @ Facebook search BX privacy