President-elect
Donald Trump laid out a complex plan on Wednesday that he says will isolate him
from his business and prevent conflicts of interest.
Ethics
lawyers say it's not nearly enough.
At a press
conference, Trump and his lawyer tossed out enough legal and financial
terminology that "people who want to believe that he's taking care of the
problem can point to something," said Larry Noble, general counsel of the
Campaign Legal Center, a government watchdog group.
"But
the reality is that he hasn't taken care of any of the problems."
Here's a
closer look at what Trump has, and has not, promised to do.
Trust
Trump will:
Put his investments and business holdings into some type of trust controlled by
his two adult sons, Don Jr. and Eric. "I hope at the end of eight years,
I'll come back and say, oh, you did a good job," the incoming president
said. "Otherwise, if they do a bad job, I'll say, 'You're fired.'"
Trump will
not: Create a blind trust, which would require him to liquidate his holdings
and let an independent manager handle the cash without his knowledge. This is
the approach favored by past presidents and by ethics experts because it
separates the president's personal profit motive from his decisions on behalf
of the government.
Running the
business
Trump will:
Resign leadership of the Trump Organization, the umbrella company for his real
estate holdings, golf clubs, hotels and licensing deals. His two oldest sons,
Don Jr. and Eric, will run the organization along with a Trump Organization
executive.
Trump will
not: Sell any of his business holdings. Any decisions made by his sons, or the
federal government, that help the business will ultimately improve Trump's bank
account.
What Trump
will know
Trump will:
Receive reports on the overall profit of the Trump organization.
Trump will
not: Receive reports on individual companies within the organization. His
lawyer says he will only learn about a deal if it shows up in the press. He has
also promised not to talk to his sons about their business decisions, though
there's no way for the public to know whether he follows through.
New deals
The Trump
Organization will not: Enter into new deals in foreign countries while Trump is
president.
The Trump
Organization will: Make deals in the United States, though Trump promises they
must first be approved in writing by an in-house ethics adviser.
Hotel
profits
Trump will:
Donate to the U.S. Treasury any profits from foreign government payments to his
hotels.
Trump will
not: Give up ownership of those hotels. Ethics lawyers say this will put Trump
in violation of a clause in the Constitution that bars federal officeholders
from accepting a "present, emolument, office or title" from a foreign
country.
Review
process
Trump will:
Direct the Trump Organization to hire an in-house ethics adviser to review any
decisions that could pose conflicts of interest with Trump's role as president.
Trump will
not: Release his tax returns, which would give the public more detail about
Trump's business interests, wealth, debt and foreign investments.
Source: CNNMoney
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