President-elect Donald Trump’s decision to allow his children to mix business with his pending presidency runs the risk of creating “princelings” like the offspring of leaders who serve as middlemen in China between the government and business, a former ambassador and ethics lawyer told members of Congress.
The suggestion came as Democrats on the House Government Oversight Committee held a forum to outline what the panel’s top Democrat called “unprecedented conflicts of interest” facing the incoming president and his sprawling business empire. No Republican members of Congress attended the forum, although ranking Democrat Rep. Elijah Cummings said they had been invited.
Trump had planned this week to detail his plans for handling his sweeping business empire, but on Monday scrapped a press conference, saying he’ll reschedule “in the near future.”
Norm Eisen, who served as President Obama’s top ethics lawyer, and Richard Painter, George W. Bush’s ethics counsel, told the panel that the incoming president needs to divest his ownership of the Trump organization by selling his assets and putting the proceeds in the hands of a trustee.
Trump, however, has suggested that he’ll put the company in the hands of his two eldest sons.