Trump’s $2bn bonanza heralds the rise of political grifters across the west
The Guardian – US News
theguardian.com
Summary
With voters embracing leaders who brazenly monetise public office, experts say an ethical code is breaking down Donald Trump came to office in 2017 after decades of bankruptcies and business failures. Yes, he was rich, but his latest financial disclosure, published this week, suggests he will depart billions richer. In the first year of his second term, he made more than $2bn from Trump hotels, Trump golf courses, Trump cryptocurrency, Trump watches, Trump cologne, Trump Bibles and more. That means Trump has accomplished something none of his predecessors achieved, at least not on this scale: transforming the American presidency into a moneymaking enterprise. Politicians have always enriched themselves but the chutzpah with which Trump is doing so raises the possibility that an ethical code is breaking down. And not just in the US. Across the west, from Clacton to Queensland, a new type of leader is emerging: the political grifter. In Transparency International’s most recent annual survey of how bad the public think corruption has got in their country, the US, UK, Canada and France recorded their lowest scores since comparable records began in 2012. “We’re seeing a concentration of wealth and power on a scale unprecedented in modern history,” says Duncan Hames, a former Liberal Democrat MP who is now head of policy at Transparency International UK. “There’s a growing risk of state capture through extreme wealth and advanced technologies by those intent on protecting their own interests instead of advancing the public good.” Nonetheless, large numbers of voters embrace grifters. If they are stealing money, then somehow it’s ‘our’ money.” There have been plenty on the left who have blurred the lines between public office and personal enrichment, from union leaders to Peter Mandelson to the Democratic ex-governor who tried to sell Barack Obama’s old senate seat . His loyalists in Congress, the justice department and watchdogs have cowed the institutions that should uphold probity.
From the source
With voters embracing leaders who brazenly monetise public office, experts say an ethical code is breaking down Donald Trump came to office in 2017 after decades of bankruptcies and business failures. Yes, he was rich, but his latest financial disclosure, published this week, suggests he will depart billions richer. In the first year of his second term, he made more than $2bn from Trump hotels, Trump golf courses, Trump cryptocurrency, Trump watches, Trump cologne, Trump Bibles and more. Continue reading...
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Published by The Guardian – US News on theguardian.com

