Donald Trump’s International Banking Scandal Exp
Post# of 65629
By Jacob Richardson
Posted on November 19, 2016
President-elect Donald Trump has a complicated relationship with China. On the one hand, Trump at one time claimed that China was being allowed to “rape our country.” On the other hand, as CBS reports, he also has not made it a secret that he benefits financially from the Industrial and Commercial Bank of China.
The headquarters of the government-controlled Bank of China is located in Trump Tower, as Trump announced during a speech in June 2015 when he had just begun his presidential campaign:
‘I love China. The biggest bank in the world is from China. You know where their United States headquarters is located? In this building, in Trump Tower. I love China. People say, “Oh, you don’t like China?”‘
How much Trump loves China is debatable, but it seems certain that he loves the money he makes from their government.It is important to note that Trump is not, at the moment, breaking any laws by renting space for the Chinese bank’s headquarters. However, the situation could potentially lead to a violation of Article I of the Constitution. Article I, Section 9, Clause 8 states:
‘No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.’
The top Democrat in the House Oversight Committee, Elijah Cummings, recently wrote a letter to committee chair Jason Chaffetz, expressing his concern about Trump’s business ties and asking Rep. Chaffetz to conduct an investigation to “ensure that he does not have any actual or perceived conflicts of interest.”
Neither Donald Trump nor Jason Chaffetz has provided a response to Cummings’s request.
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