Trump administration brags about how many wealthy people it has

The Washington Post reports: Starting Friday evening, the White House will begin to release financial disclosure forms filed by about 180 members of the Trump administration who are either commissioned officers or paid more than $161,755.

Already, the administration is bragging that its members are way wealthier than those who worked for former president Barack Obama — a point of pride that doesn’t quite match the president’s campaign pledge to “drain the swamp” of wealthy GOP donors, lifelong political operatives and those who are simply out-of-touch with everyday Americans. [Continue reading…]

The New York Times reports: Ivanka Trump and Jared Kushner, President Trump’s daughter and son-in-law, will remain the beneficiaries of a sprawling real estate and investment business still worth as much as $740 million, despite their new government responsibilities, according to ethics filings released by the White House Friday night.

Ms. Trump will also maintain a stake in the Trump International Hotel in Washington, D.C. The hotel, just down the street from the White House, has drawn protests from ethics experts who worry that foreign governments or special interests could stay there in order to curry favor with the administration.

It is unclear how Ms. Trump would earn income from that stake. Mr. Kushner’s financial disclosures said that Ms. Trump earned between $1 million and $5 million from the hotel between January 2016 and March 2017, and put the value of her stake at between $5 million and $25 million. [Continue reading…]

The Washington Post reports: Stephen K. Bannon was running an investment banking company in Beverly Hills when his partner called with urgent news: a potential $10 billion deal was about to unfold in New York City involving a company they hoped to continue representing — and they didn’t want to be left out of the action.

Bannon, then in his mid-40s, told his business partner to meet him at the Los Angeles airport in an hour. Soon, they appeared at the Manhattan offices of PolyGram, a worldwide music company that they had previously represented in a film deal and now was for sale.

Before long, Bannon came up with an angle. He had represented Saudi Prince Alwaleed bin Talal, in a prior deal, and now he proffered the royal-family member, one of the world’s wealthiest Arabs, as a bidder. PolyGram was impressed and eventually paid Bannon a sizable fee for work on the overall deal. [Continue reading…]

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