Trump filed documents with the FEC over the summer that revealed he owed at least $315 million to ten entities. This debt, some of which is personally guaranteed by him, was a clear conflict. As president, Trump will be responsible for regulating entities that he also owes money to. Worse, these debts are frequently renegotiated, giving these companies leverage over Trump in the regulatory process.
A report this afternoon from the Wall Street Journal, however, revealed that Trump’s disclosure was the tip of the iceberg. The FEC required Trump only to report debt from entities he fully controls. The disclosure left out “more than $1.5 billion lent to partnerships that are 30%-owned by him.” That debt has been securitized and is owed to at least 150 financial entities.
These financial institutions include many firms that are under the scrutiny of the federal agencies that Trump will soon control. Wells Fargo, for example, which services over $900 million in loans connected to Trump, “is currently facing scrutiny […]
It seems that Trump considers the election a very successful buy out of a major competitor. Now the real work of getting rid of the unprofitable parts of the business and integrating the profitable segments begins. I think it is time to rid ourselves of that time worn phrase “conflict of interest”- such a loser phrase. To make the company great again means we need a “confluence of interest” – a winner phrase!
This comment is aimed towards the opening comment, and is not necessarily related to the article.
From my grandfather who served during WWII, to my brother, two sisters, and myself who all served during the “war on terror”, in my experience we don’t put a whole lot of faith in the president elect, or the two before him.
I can wrap my head around your frustration with Trump, and your assumption that almost half of the nation has been fooled. That being said, I now look at Trump as a mechanism to expose how truely corrupt our system has become, from the politicians themselves, to our intelligence agencies and mainstream media, in hopes that fewer and fewer U. S. veterans will have to have fought in unjust wars, and in hopes that our country can move towards a wellness based model. That’s not to say that I think Trump will purposefully do so, but hopefully inevidably he will through his actions. So far, I would say it’s kind of working, but perhaps not in a very comfortable way.
From my experience reading your blog over the past year or so, your opinion may be that my attitude falls in line with the half of America that is being taken for a ride, and I accept that risk in expressing it. As you might imagine, a short comment of this nature is not enough to express my full (ever evolving) opinion clearly, but I hope it gives you an idea of how at least some veterans feel about the country we fought for, as well as the hope we have for the future of our country that we continue to fight for.
I have much gratitude for your continued efforts to keep us vigilant, as your comments of late seem to indicate the past few months are weighing heavy on you.
Semper Fi.