Blind Trust Us President

Presidents have placed their financial holdings in a blind trust that is managed by a trustee without any input from the president.

Blind trust us president.

Blind trusts may be used by such government officials even when the disqualification requirements of federal law do not apply to them such as for members of congress the president and the vice president. The question is larger than that. S uggestions that president elect donald trump put his business holdings in a blind trust to avoid potential conflicts of interest are unrealistic and unfair. Last week common cause and a coalition of government transparency advocates sent a letter to president elect trump urging him to fully divest himself of any financial relationship with the trump organization and place all of his assets into a true blind trust.

It s generally acknowledged that the first american elected official to use a blind trust was president lyndon johnson who set one up when he assumed the presidency so that he and his wife lady. Traditionally presidents have turned over their day jobs to a blind trust once they become commander in chief. In a blind trust the trustees fiduciaries or those who have been given power of attorney have full discretion over the assets. Should president elect trump turn over the management of his business interests to his three adult children while retaining ownership those conflicts will not go away the letter states.

This arrangement is believed to help the president. This stems from concerns about conflict of interest. Others have more or less answered the specific one asked but even those answers are not completely correct. Such a trust would not eliminate the.

As a practical matter it s likely a complete non starter says leslie kiernan a partner at law firm akin gump and a former deputy white house counsel under president barack obama.