1/ In a Trump Tower press conference, held nine days before he took office, Donald Trump described his plan to separate his business from his presidency. Over the last few years, the key pillars of that plan have crumbled. Let’s go through them one-by-one. c-span.org/video/?421482-…
2/ Promise 1 of Trump’s ethics plan: “No new foreign deals will be made whatsoever during the duration of President Trump’s presidency,” his attorney said. Trump did at least one new foreign deal anyway.

(See the promise at 31:57 of the video below.)
c-span.org/video/?421482-…
3/ We know that the president did new a new foreign deal in office because he himself admitted it—on a financial disclosure report filed with federal ethics officials. You can see here that he sold $3.2M of land in the Dominican Republic on Jan. 29, 2018. extapps2.oge.gov/201/Presiden.n…
4/ Promise 2 of Trump’s ethics plan: He said he wasn’t going to talk about the business with his sons, Eric and Don Jr., who he put in charge of day-to-day operations. Doesn’t look like he kept that promise either.

(See promise 25:00 into the video.)
c-span.org/video/?421482-…
5/ Contradicting his father, Eric Trump later told me that he did in fact plan to update his dad on the business. “Yeah, on the bottom line, profitability reports and stuff like that. But you know, that’s about it.” forbes.com/sites/danalexa…
6/ Promise 3 of Trump’s ethics plan: Trump’s team suggested he would donate all profits from foreign dignitaries to the U.S. Treasury, to blunt criticism that he was violating the emoluments clause of the constitution. Doesn’t look like that happened.
7/ In ’17-’18, the Trump Org reportedly gave the US Treasury $343K, supposedly its profits from foreign governments. But an analysis of just one deal shows that the president got about three times that amount from China alone. See the math in this thread.
8/ Promise 4 of the president’s ethics plan: Trump’s attorney said an ethics advisor would review all new transactions to guard against potential conflicts of interest. That did not happen.

(See the promise below, at the 32:25 mark): c-span.org/video/?421482-…
9/ Despite what one Trump attorney claimed, another Trump lawyer told me no one reviewed deals in buildings where Trump holds a minority stake, like 1290 Ave of the Americas and 555 Calif St—Trump’s 2 most valuable properties. See documents in this thread.
10/ Over the last four years, the pillars of President Trump’s ethics plan have collapsed one after the other. Promises made, promises broken.

To learn more, please check out “White House, Inc.: How Donald Trump Turned the Presidency into a Business.” penguinrandomhouse.com/books/623950/w…

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More from @DanAlexander21

10 Oct
1/ Hats off to the New York Times, which published its latest installment in its tax series today. In my eyes, this is the most impressive follow-up they have done to the original story. I’ll be sharing additional thoughts here over the next hour or so. nytimes.com/interactive/20…
2/ The story describes a waterfall of potential conflicts of interest, connected to money coming into Trump's hotels and clubs from various tycoons, lobbyists, foreign governments and so on. This type of reporting is extremely difficult. Let me explain why.
3/ According to federal guidelines, the president has to disclose who pays him money directly, even if the payments are as small as a couple hundred bucks. But the rules do not require the president to disclose payments that flow through his companies. It's a massive loophole.
Read 14 tweets
9 Oct
1/ The New York Times released their latest installment in their terrific Trump taxes series today. I've got some thoughts on this one as well, which I'll be outlining here over the next hour or so. nytimes.com/interactive/20…
2/ The story really includes two stories. First, there's one about cash flowing out of the Trump International Hotel in Las Vegas. Second, there's another about a train project that Trump's partner in the hotel has talked to about the president. We'll start with the cash.
3/ On 9/15/2016, weeks before the election, Trump signed a document to secure a $30M loan against the Trump International Hotel in Las Vegas, which he owns in a 50-50 partnership with fellow billionaire Phil Ruffin. You can see the amount and the signature on these documents. ImageImage
Read 15 tweets
8 Oct
1/ On the topic of China, it's worth remembering that the president's business has accepted millions of dollars from a state-owned bank in China while Trump has served in office. Here's how it worked.
2/ Here's a debt prospectus, tied to Trump Tower, which shows that the Industrial and Commercial Bank of China paid annual rent of roughly $1.9 million to Trump Tower Commercial LLC. You can see that the lease was set to expire on 10/31/2019 -- midway through Trump's first term. Image
3/ If there is any question about who owns Trump Tower Commercial LLC, see Trump's financial disclosure report, which shows that the Donald J. Trump Revocable Trust owns 100%, through several shell companies. Here's the document: extapps2.oge.gov/201/Presiden.n…
Read 8 tweets
6 Oct
(1/9) When Donald Trump became the president of the United States, his brand got bigger, but it didn’t get better. Just take a look at what happened to Trump National Doral, his golf resort in Miami. forbes.com/sites/danalexa…
(2/9) Here’s a video of the Trump Organization’s tax specialist getting sworn in at a local proceeding where she is going to explain the situation in December 2017, 11 months into Trump’s presidency.
(3/9) “I met with the director of finance, as well as the director of development for all of the Trump Organization,” Trump’s tax representative explains here. “And they mentioned that throughout 2016, because of the political climate, there have been severe ramifications.”
Read 9 tweets
5 Oct
(1/12) From the very start of his presidency, Donald Trump has found small ways to convert power into profit. To better understand this, let’s take a look at the numbers inside the Trump International Hotel in Washington, D.C.
(2/12) We’ll start with the 58th Presidential Inaugural Committee, the group that raised money to celebrate the inaugural festivities. It was headed up by Tom Barrack, one of Trump’s old buddies. A bunch of billionaires poured in money. forbes.com/sites/danalexa…
(3/12) “They all want to kiss the rear of whoever wins the election,” explained @RWPUSA, chief ethics lawyer in the W. Bush administration. One danger is it can start to look like a slush fund. “It’s a potential problem that every decent ethics lawyer knows is a huge issue.”
Read 12 tweets
27 Sep
1/ The New York Times #TrumpTaxReturns story is terrific. I had about a million thoughts as I was reading though. I'll be annotating those here, in this thread, for the next few hours. nytimes.com/interactive/20…
2/ Story starts with this bombshell, that Trump paid just $750 in taxes in 2016 and another $750 in 2017. Shocking numbers for someone who we estimate is worth $2.5B. (Yes, you can still be really rich and disclose a tiny income or even huge losses. More on his net worth later.) Image
3/ Then we get to this part about the current state of his business, which highlights the amount of debt that Trump has coming due. We actually already know a lot about his debt -- far more than most people who follow the news might think. Let's pause here and dig into it. Image
Read 43 tweets

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