Rachel Maddow, the MSNBC host just unleashed a huge controversy. It could potentially bring down president Trump.
Apparently, Trump’s team released some of the basic details about his finances and income. This made for another major scandal. According to these details, Trump owes huge debts to the same international companies that are currently lobbying Congress as well as his administration.
The details are evidence of a major conflict of interest. This means that Trump can’t faithfully complete his duties as the president since he owes hundreds of millions to the special interests.
Watch Rachel Maddow’s commentary below:
The details show that Trump has personal liabilities of at least $315.6 million to German, US and other lenders. This is according to a federal financial disclosure that the US Office of Government Ethics released.
From his new marquee Washington hotel, he had a $20 million income. His revenues also increased at Mar-a-Lago.
The document also showed liabilities for the president of at least $130 million to Deutsche Bank Trust Company Americas. Additionally, he disclosed a liability of at least $110 million to Ladder Capital Corp. This is a commercial real estate lender.
So not only does the president owe enormous sums to these companies, but they are also lobbying the government for deregulation deals.
According to the documents, Trump lists liabilities with 10 creditors. The minimum amount that he could owe is $315 million. Meanwhile, the maximum amount could be more than half a billion dollars.
Before becoming the president, he held officer positions in 565 corporations or other entities. His tenure for most of the posts ended the day before the inauguration, while the others ended in 2015 and 2016. Most of the entities were based in the US. A small number were located in Scotland, Ireland, Canada, Brazil, and Bermuda.
Thus far, Trump continuously refused to publish his tax returns. However, he has submitted the federal forms that disclose his and his family’s income, assets and liabilities.