In 2013, Trump signed a 60-year lease for the the headquarters of the U.S. Post Office, and began a $200 million renovation to turn it into an upscale hotel, called the Trump International Hotel, with the help of loans from Deutsche Bank, a large German bank. Trump’s financial disclosure reports, show he currently owes Deutsche Bank roughly $365 million in loans for the Washington hotel, along with another one in Chicago and a Florida golf course.
However, Deutche Bank itself is currently the subject of a fine by the Justice Department that could be worth $14 billion, or more, for creating and selling mortgage-backed securities that were the cause of the 2008 crash. Wow! When Trump takes office, he will be overseeing the Justice Department.
Then, were foreign diplomats to stay at the Trump International Hotel at the expense of their governments it would be illegal under the emoluments clause of the Constitution. Apparently Trump’s lease of the old Post office building, now the hotel, specifically says that no elected official of the United States government shall be party to, share in or benefit from the contract. This ought to mean that the contract should be terminated before Trump becomes President. Will it be? It would be a huge hit to Trump, who says he intends to address conflicts of interest like this. Here is a man who is detail-challenged – he should have thought this out long ago. (commentary based on an NPR website article, December 1st)