What happened
A $9.7 billion Pentagon contract with Dell Technologies announced this week sent the company’s stock soaring, likely boosting President Donald Trump’s more than $1 million investment in the company, The New York Times and The Washington Post reported Thursday. “Government ethics watchdogs are sounding the alarm” not only because Trump “potentially stands to gain financially” from the Dell deal, the Post said, but also because he “has repeatedly praised the company at public events” since acquiring the shares earlier this year.
Who said what
The Dell investments were among more than 3,600 trades executed in Trump’s investment portfolio from January through March, according to a mandatory filing released this month. The Trump family has “argued that the president does not personally control the trading,” but the president’s financial accounts “are not in a traditional ‘blind trust,’” the Times said. And his Dell purchase “draws new attention to the inherent problems” with the family’s “widespread investments” in military drones, cryptocurrency, mining and prediction markets while Trump “oversees policy and government purchase decisions for those same sectors.”
What next?
Presidents are exempt from an ethics law that prohibits official self-enrichment. Congress should “revisit the arrangement whereby we rely on the president’s own sense of integrity rather than law to avoid conflicts of interest,” Greg Williams from the Project on Government Oversight told the Post.
The deal is worth a massive $9.7 billion
