I'm really rich. My father gave me a small loan of a
million dollars. Money, money, I want more money.
America has seen rich presidents, but Donald Trump's
wealth is on a whole other level. He has buildings
with his gold-plated name all over the world.
He can make or lose millions off of his presidency.
So how does Trump's vast business empire affect
his decision-making as president?
I have a no conflict of interest provision as president.
Trump likes to say the president can't have conflicts of
interest. What he means is the president is exempt from
conflict of interest laws. But sociologists and
psychologists say even tiny financial incentives can
be enough to change people's actions. Studies have
repeatedly shown that receiving gifts, money, or even
lunch from pharmaceutical company representatives
makes doctors more likely to prescribe that company's
drugs. Even cheap gifts can create a feeling of
indebtedness, playing into our human desire to reciprocate.
This could be why foreign governments are already
booking and holding events in Trump's new hotel
in Washington, D.C. The founders put a guard against
foreign meddling in the American government in the
constitution in what's known as the Emoluments Clause,
which makes it illegal for government officials to accept
gifts from any king, prince, or foreign state.
An ethics watchdog group has already filed a lawsuit
against the president for violating this clause.
Trump resigned from his organization to assure the
American public that he will have no such conflicts.
But he still owns it. And two of his sons are now leading
the company in what even he's not sure counts as
a blind trust. I don't know if it's a blind trust if Ivanka,
Don, and Eric run it, but is that a blind trust? I don't know.
It didn't take long for Trump to demonstrate how his
business is mixing with governing. Only three weeks
into office, Trump was at Mar-a-Lago, his palm beach
resort with the Japanese prime minister Shinzō Abe
when news broke of the North Korean missile test.
Trump began reading intelligence briefings right out
on the resort's patio in full view of his guests - many of
whom pay membership dues in the tens of thousands
of dollars. And some of whom snapped pictures.
In a leaked tape from November, Trump actually told his
guests they might get to see him in high level meetings.
Well, they'll be interviewing everybody - Secretary of State.
It's going to be unbelievable, so you might want to
come along. Trump's many properties in foreign countries,
whether he owns them or merely licenses his name
to them, pose an even bigger risk. Consider Trump Towers
in Istanbul. I have a little conflict of interest because I
have a major, major building in Istanbul.
When Trump first announced his intention to ban Muslims
from immigrating to the U.S. during the campaign,
Turkey's president Erdogan called for Trump's name
to be removed from his buildings in the country only
to stop once Trump scaled back his proposal. It's
not difficult to imagine a future in which the U.S. would
want to move to sanction Erdogan's government, which
has become increasingly authoritarian. At that point,
Erdogan could use Trump Towers as a bargaining chip
to influence the president. And then of course, there's Russia.
A few years ago, Trump bragged about his extensive
ties there. And have you had any dealings with the
Russians? Well, I've done a lot of business with the
Russians. They're commies you know that? Well,
Vladimir Putin, have you ever met the guy? He's a tough
guy. I met him once.
Now, he acts like they don't exist. I have no dealings
with Russia. I have no deals in Russia. And I have no
loans with Russia. Trump's always been proud of
how he uses debt to finance his properties.
But not many American banks are willing to lend to
him anymore. So there are questions as to the extent
of Trump's debts to government-controlled banks
in Russia and elsewhere. And with each new report
of a Trump associate's conversation with Russia, the
question of Putin's hold over Trump grows more
pressing. So far, there hasn't been a clear-cut
case of Trump compromising national security
because of his conflicts of interest. What we do know
is that some foreign nations may have unprecedented
financial ties to a sitting U.S. president. As long as
Trump doesn't release his tax returns, we'll never know
for sure what could be motivating his decisions.
This is Unpresidented - a weekly series where different
Atlantic writers explore what's going on in this new
era of American politics. Let us know what topics you
want us to explore in the comments. I'm Jeremy
Venook. Thanks for watching!