Trump’s crypto venture has generated unusually large cash for the Trump family in a short period compared with earlier real estate earnings. Trump has said he allowed his children to do business and contrasted it with a prior prohibition during his first term. The described scenario proposes lifetime immunity from federal audits and criminal investigations for presidents and family members, continued active ownership of global business empires that profit from government decisions, and maintenance of large personal crypto and stock portfolios that trade in industries regulated by the president’s administration. The piece argues these actions would likely receive minimal public support and sets precedents for future presidents. It also notes lawmakers trading stocks and profiting from insider knowledge, and highlights bipartisan concern about officials trading while in office.
"Trump's crypto venture alone has been a windfall unlike anything in the history of presidential business, generating more cash for the Trump family in 16 months than the entire Trump real estate empire produced from 2010 through 2017, according to The Wall Street Journal."
""I let my kids ... do business," Trump said in a January interview with The New York Times. "I prohibited them from doing business in my first term, and I got absolutely no credit for it.""
"Imagine America put these questions to a public referendum: Presidents and their family members, unlike other U.S. citizens, shall be granted lifetime immunity from federal audits and criminal investigations of their past tax returns. Presidents and their family members can maintain active ownership of global business empires, profiting when government decisions directly benefit those specific businesses. Presidents, while in office, can maintain massive personal crypto and stock portfolios that buy and sell hundreds of millions of dollars in industries directly regulated by their own administration."
"Between the lines: This is more than just a Trump problem. Look at the astonishing number of lawmakers trading and making money off stocks, often with insider knowledge of looming congressional action. Pollsters have asked how Americans feel about officials trading stocks while in office, and it's one of the rare genuinely bipartisan issues in politics today."
#presidential-ethics #crypto-and-finance #conflict-of-interest #stock-trading #political-accountability
Read at Axios
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