President Trump is unrivaled in American history in one respect: None of his predecessors ever cashed in on the presidency as he has.
The Teapot Dome scandal under Warren Harding? Richard Nixon’s slush funds during Watergate? Those seem like junior high school by comparison with the present culture of corruption.
The fire hose of disclosures has been overwhelming. A Times editorial estimated conservatively that the Trump family has made more than $1.4 billion in documented gains by exploiting the second term of his presidency. (Others offer higher figures.)
And all that pales beside the latest bombshell: a $500 million secret deal backed by a government leader in the United Arab Emirates, just four days before Trump was inaugurated for his second term.
Here’s what we know.
The Wall Street Journal broke the story, reporting that on the eve of Trump’s inauguration, the Emiratis purchased 49 percent of a Trump family cryptocurrency company for $500 million. It’s difficult to see why anybody would pay so much for a fledgling company — unless the point was to enrich the Trumps.
Most of the money in effect went to the Trump family, but some found its way to the family of Steve Witkoff, a co-owner of the venture. Trump had selected Witkoff to become the United States’ special envoy to the Middle East.
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