In Part 1 of her three-part investigation, Michelle Fahy investigates the corporate influence on government policy and how weapons makers cultivate relationships with politicians and top officials in the public service.‘Culture of Cosiness’: colossal conflicts of interest in Defence spending blitz – Michael West
QUID PRO QUO Opportunity (ODT)
That may be true, but the loans that Trump has with Deutsche Bank are personally guaranteed—meaning that if the president is unable to repay them, Deutsche Bank would be able to come after the personal assets of the president of the United States to settle the debt. We’re looking at the possibility of a face-off between the most powerful politician on Earth and a German bank that has struggled financially in recent years and run into trouble with U.S. law enforcement and bank regulators—all in the shadow of a global crisis. This is pretty much the worst-case scenario posited by ethics experts when Trump took office and refused to sell off his assets. .
Trump, so it goes, was too big to fail. Well here we go again. According to the Wall St Journal: “More than 500 staff at Trump properties in New York, Washington, Las Vegas and Florida have been laid off or furloughed, say people familiar with the matter and federal disclosures. Several Trump hotels have been closed, and those still running have experienced dwindling occupancies. One day in March, the family’s flagship Trump International Hotel in Washington had just 11 guests in its 263 rooms, according to an employee.”
When Donald Trump took office, he refused to divest from his business empire, setting the stage for a presidency riddled with conflicts of interest. The coronavirus outbreak, which has battered the hospitality sector, including the president’s collection of hotels and resorts, raised the unprecedented question of whether the federal government might help to bail out Trump’s company. But a provision Democrats inserted in the $2 trillion rescue package that could be passed by the Senate on Wednesday would block the Trump Organization from accessing the biggest pot of rescue funds.
The measure prohibits companies owned by the president, vice president, and other federal officeholders from receiving aid from the $500 billion fund, overseen by Treasury Secretary Steven Mnuchin, that is allotted for helping ailing businesses. Also excluded from receiving a federal handout from this fund are companies owned by the spouses, children, or in-laws of these officials—a provision that seems targeted at presidential son-in-law Jared Kushner, who retains a stake in his family’s company, which has struggled in recent months. (A final draft of the bill hasn’t been released, but a legislative draft includes the conflict-of-interest language.)
Sh*t just hit the fan!
It’s not what he owns; it’s what he owes.