Walter Shaub, director of the Office of Government Ethics, said today that Trump’s plan to turn his business empire to his two adult sons is “wholly inadequate.”

 

Speaking at the Brookings Institution in Washington, Walter M. Shaub said Trump’s plan to separate himself from his business interests doesn’t follow the tradition of presidents from the past four decades.
“This is not a blind trust,” he said. “It’s not even close.”
Shaub’s office is not an enforcement agency, but it advises executive branch officials about how to avoid conflicts. It’s the office combing through the financial holdings of Trump’s Cabinet nominees to look for problems.
Earlier Wednesday, Trump announced that he would place his vast business holdings in a trust controlled by his adult sons, Don Jr. and Eric, and that he would relinquish his leadership of the Trump Organization.

Trump will not sell his stake in the business, however. Under a blind trust, Trump would sell his holdings and let an independent manager invest the proceeds. That way, he could not profit directly from decisions he makes as president….
Shaub said the Trump plan “adds nothing to the equation.”
“We can’t risk creating the perception that government leaders would use their official positions for profit,” he said….
Shaub said there was “still time” for Trump to build on what he has announced so far to resolve potential conflicts. He said he’s previously had to ask nominees and appointees to take “painful steps” to avoid problems.

 

“I don’t think divestiture is too high a price to pay to be the president of the United States of America,” he said.