President trump went from “can’t release tax returns - am in audit” - a spurious argument since the IRS already has his returns, to Kelleyanne Conway last week acknowledging he will never release them. The problem is that without those records no one, not even his own national security staff, can know whether he does something because he owns hotels in a country or owes big money to another country.
An example we already have
The recent ban on Muslim countries is very suspicious. President Trump stopped anyone from 7 countries entering the US. None of those seven have any business dealing with the Trump Organization.
But there is also not one single report of any immigrant or refugee from any of the seven killing any American in the US.
Countries not on the ban include Saudi Arabia, Egypt, and the UAE, all of which had citizens on airplanes on 9/11 who killed thousands of Americans. The Trump Organization has many business ties with those three countries.
Trump Hotels has indicated that the business plans tor triple the number of hotels they manage or own.
Where else does Trump own or owe?
Bloomberg News has published the latest information on Trump business ties overseas posted January 26, 2017. The following are just some.
Rio de Janeiro, Brazil - Trump Towers and Trump Hotels have multiple holdings in Rio in conjunction with a Bulgarian development company.
Canada - in Vancouver Trump International Hotel & Towers is developing a property in conjunction with a wealthy Malaysian family (Joo Kim Tiah.) In Toronto Trump Tower is part of a management deal with Talon International and Russian-born billionaire Alex Shnaider. The property is reportedly in receivership (bankruptcy.) Shnaider is President of the Jewish Russian Community Center in Ontario.
China - Trump Hotels' CEO Eric Danziger has stated that he plans to open buildings in 20 or 30 Chinese cities. The world’s largest lending bank, Industrial & Commercial Bank of China Ltd. has offices in Trump Tower, NYC.
Egypt - Trump Marks Egypt and Trump Marks Egypt LLC - nothing is reported about their activities.
Georgia - two Trump companies have unknown operations in that Eurasian country.
India - Trump organization projects in Mumbai, Pune, and Kolkata with Indian partners having ties to the Indian government.
Saudi Arabia - four Trump development companies are based in Saudi Arabia.
United Arab Emirates - Trump is building a golf course designed by Tiger Woods and has a licensing agreement with another resort and golf course in Dubai.
Banks - Trump organizations have outstanding loans with Deutsche Bank, The Bank of China, and New York-based Ladder Capital.
Without tax returns it isn't possible to know all Trump business dealings.
Why this matters
There is nothing wrong with having bank loans and nothing wrong with doing business overseas - for a private citizen.
President Trump is being sued over constitution violations due to business dealings overseas.
If you were considering entering a business deal with someone who was deeply in debt to your competitor, or buying a used car and wanted to take it to an independent mechanic to learn if it was in good shape, would you go the seller’s brother, father, or father-in-law?
No sensible person would risk anything important to someone who had excellent reasons to favor the other side. That’s the essence of conflict of interest.
So, if someone who could start a nuclear war, or a trade war, or who could destroy your way of life, wouldn’t you want to know if they have a vested interest in someone who hated you?
That’s the problem for President Trump. He may not have any conflicts of interest, but if not, why does he refuse to disclose his tax returns which would not only show if he is as wealthy as he claimed but also what countries he may owe money to or might wish to do business with?
Merely turning the business over to close Trump relatives doesn’t mean he won’t benefit and if not still many human beings like to see their children succeed.
