A Wall Street Journal editorial calls on President-elect Donald Trump to liquidate his stake in his company.
The political damage to a new Administration could be extensive. If Mr. Trump doesn’t liquidate, he will be accused of a pecuniary motive any time he takes a policy position. For example, the House and Senate are eager to consider tax reform—and one sticking point will be the treatment of real estate, which will be of great interest to the Trump family business. Ditto for repealing the Dodd-Frank financial law, interest rates and so much more.
Mixing money and politics could undermine his pledge to “drain the swamp” in Washington. If a backlash allows Democrats to retake the House in 2018, Mr. Trump and his business colleagues would field subpoenas from the House Oversight Committee. Ranking minority member Elijah Cummings this week expressed his enthusiasm for such a project, and answering daily questions about this can’t be how Mr. Trump wants to spend his political capital.
