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Will Donald Trump have to reveal his finances soon?
The United States Supreme Court on Tuesday dealt with two lawsuits requiring the president to publish his financial documents. The decision could have historical consequences.
Covid cases continue to rise, stock market prices drop again, even in the White House the coronavirus has hit – you might feel sorry for Donald Trump these days. Perhaps the worst is yet to come. You may have to reveal your finances in July.
Since Richard Nixon, it has been common for American presidential candidates to make their tax returns public. Trump also promised this, but never did. With the weak justification that the tax authority is still under review, it has firmly refused to give an idea of its finances. There is no legal obligation to do so.
Lots of rumors are circulating about Trump’s finances. Two cases have been launched against the President to find out the truth.
You must make a historic decision: the judges of the Supreme Court. Image: AP
In connection with the Russia affair, the Democrat-dominated House of Representatives has demanded that accounting firm Mazars USA LLP, Deutsche Bank and Capital One Financial Corp. documents related to its dealings with Trump.
At the same time, the New York City Attorney’s Office requested information about Trump’s finances in relation to money payments to porn actress Stormy Daniels and Playboy model Karen McDougal. These payments violated applicable law. Former Trump personal lawyer Michael Cohen has been sentenced to three years in prison for this. In a hearing in front of the House of Representatives, Cohen testified that he had acted on behalf of the President.
Trump has teeth and claws against revealing his finances. He has assembled his own team of attorneys to prevent this from happening in all courts. Unsuccessfully. Trump’s team has always lost. Therefore, the highest authority must now decide.
Because the two lawsuits overlap, the Supreme Court decided to merge them. The judges heard the parties’ arguments on Tuesday. The procedure was by telephone about Corona and it was public. The president did not do well.
At that time he had to remove the tapes: Richard Nixon. Image: AP / AP
Trump is not the first president to avoid an investigation. Richard Nixon did not want to release the legendary tapes in the Watergate case. Bill Clinton wanted to suppress a sexual harassment trial. Both lost to the Supreme Court.
That could now overtake Trump as well. “How should we differentiate between Whitewater (a proceeding) in which his accountant requested President Clinton’s personal files and the case against Trump?” Judge Ruth Bader Ginsburg asked.
Trump’s attorneys gave the basics. Jay Sekulow, who has already played an important role in the impeachment process, summoned the judges with the argument: “It is completely clear what it is about. The presidency is being harassed and must infiltrate with dirty means.
Trump’s lawyer is on ice with this reasoning. Ultimately, it requires that, while in office, you are not only not charged, but not investigated.
Skeptic: Ruth Bader Ginsburg. Image: AP
What this means in concrete terms can best be explained by the example that Trump himself brought up for discussion. “I can shoot someone in the middle of Fifth Avenue without anything happening to me,” he bragged once. If you follow Sekulow’s logic, the President can not only shoot someone with impunity, but must also prevent anyone from continuing to shoot.
“No one is above the law.” This principle is sacred to Americans and was repeated during impeachment to vomit. But that is exactly what Trump demands. He demands absolute immunity, at least as long as he is president. This would de facto invalidate Parliament’s oversight function.
That could be too much even for conservative law enforcement officials. Judge Elena Kagan intervened skeptically: “I have the feeling that we are being asked to weigh ten tons in favor of the President against Congress, and that it is impossible for Congress to exercise its duty of vigilance against the President being able to meet.”
Given the vast scope of their decision, the nine judges want to take their time. His spell is expected in July at the earliest. You have three options: You can vote for or against Trump, or you can reject this decision for review to a lower authority.
You are wrong: Eric Trump. Image: AP / AP
A defeat would have far-reaching consequences for Trump. Its internal bank, Deutsche Bank, has already said it will follow a decision of the Supreme Court. This would probably clarify the biggest secret of the Trump Presidency: did he launder Russian money on a large scale or not?
There is plenty of evidence to support this. For example, her son Eric, who is not considered the brightest candle in the family, once frankly told a golf journalist that financing golf courses in Scotland and Ireland was not an issue. A lot of Russian money had flowed.
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