Why Donald Trump should not divest

a reply to: JAY1980

Comparing all of America to just one man, the president is weak.

Oh no, my argument is based on pure facts. For Trump to be prez he has to pass a background investigation to get his Top Secret/SCI clearance. For that happen, you can't be swimming in debt because that debt can be used against you. John Anthony Walker who was a petty officer in the USA had a spy ring selling secrets to the Soviet Union because of debt. That's where this comes from. A lot of changes were made in the Intel world after that spy ring was busted.

Trump cannot be president if he has hundred of millions of dollars in debt, that's just a fact he's going to have to deal with very soon.

a reply to: JeremySun

The Trump organization is not a public corporation. It is a private LLC. It has no shares.

Real business savvy, aren't you?

Shares, not stocks. The owners of a company are shareholders. Trump and his kids are shareholders.

a reply to: Swills

The Trump organization has very little debt, as shown in the mandatory financial information.

a reply to: JeremySun

The Trump organization has very little debt, as shown in the mandatory financial information.

What mandatory financial information would that be?

a reply to: Phage

A private LLC has no shares, no stocks. Only public corporations that are publicly traded do.

double

a reply to: Phage

Every presidential candidate is required to release it to the public.

www.documentcloud.org...

double

originally posted by: mOjOm
a reply to: JeremySun

Watch the video I posted at the top of this page. The Director of Ethics explains everything you need to know.

Your video is irrelevant.
Mr Shaub is conflating cabinet requirements with the requirements of the President.
Also, anyone who claims to be non partisan, is usually partisan. Perhaps he should have had a closed door meeting instead of a press conference. I doubt he will be in the role much longer anyway, so his opinions are largely worthless.

a reply to: JeremySun

Take a look at page 57. I see a lot of amounts listed as 'Over $50,000,000". How much over, I wonder.


Seems that he gets more than a flat salary.

originally posted by: Swills
a reply to: JAY1980

Comparing all of America to just one man, the president is weak.

Oh no, my argument is based on pure facts. For Trump to be prez he has to pass a background investigation to get his Top Secret/SCI clearance. For that happen, you can't be swimming in debt because that debt can be used against you. John Anthony Walker who was a petty officer in the USA had a spy ring selling secrets to the Soviet Union because of debt. That's where this comes from. A lot of changes were made in the Intel world after that spy ring was busted.

Trump cannot be president if he has hundred of millions of dollars in debt, that's just a fact he's going to have to deal with very soon.

Does the President require security clearance?
Can you provide a link to this story that he needs to prove he is not in debt before he can get clearance?

a reply to: UKTruth

Sure. I'm going to trust you, who is not only partisan as hell but also not even a US resident over the Director of Ethics when it comes to this. That makes a lot of sense.

originally posted by: Phage
a reply to: JeremySun

Take a look at page 57. I see a lot of amounts listed as 'Over $50,000,000". How much over, I wonder.

BTW, how come he says he's worth $10billion?

I have not heard that his submission is in question, so I suspect he has met the requirement and does not need to say 'how much over'.

a reply to: UKTruth

Right. So how many "over $50millions" equals "very little debt?"

originally posted by: mOjOm
a reply to: UKTruth

Sure. I'm going to trust you, who is not only partisan as hell but also not even a US resident over the Director of Ethics when it comes to this. That makes a lot of sense.

I am aware of the rules, you should be too.
The law on conflicts of interest does not apply to the President.
The clause on Emoluments are somewhat more opaque. His lawyers will cover that for him and he has been given the advice he needs. If you read about it you will know that the legal route to challenge him is almost non existent. You are talking here about him being impeached by Congress and the Senate 'convicting' him with a 2/3 vote because his hotel had a foreigner in it. Good luck with that.

originally posted by: chr0naut
a reply to: JeremySun

Would the family of the POTUS have to get new jobs? Yes. Would they remain unemployed long? Nope.

How could his family get new jobs?

Every job they take will carry with it a conflict of interest. Trump will always know what his kids are doing and he could always use his power as president to help them.

No no no; become president isn't something that should be taken lightly. The President's family should live off of Government programs and only that until such time the President leaves office.

This is the only way to eliminate conflict of interest.

a reply to: UKTruth

Of course the president has to have a clearance. There are many jobs that require a clearance, both military and civilian, so if you can't pass a background check you can't have the job. Now we gotta make more special amendments for Trump? The Intel world won't allow that because it comprises national security.

Wel damn, I take that back. Apparently the prez doesn't need a clearance. That's amazing to me. Disregard the above.

originally posted by: Phage
a reply to: UKTruth

Right. So how many "over $50millions" equals "very little debt?"

It's not a reasonable question. Very little debt to him is a lot to me (and you, unless you are super rich).
I heard that his businesses carried something like $600m of debt on $3.5bn of buildings assets. These are primarily mortgages. That is low leverage and actually very little debt.
If your house is worth $1m and you have about $170,000 debt on it, you have very little debt, but if your house is worth $100,000 and you have $170,000 of debt.. oops.

Regardless, why is his mortgage debt an issue?

a reply to: UKTruth

I was responding to a statement from another member.

a reply to: Phage

Because the assets of the Trump organization is in the billions. There are far more assets than there are debts. The average American family has more debt than asset.