Out of loopholes, Trump must disclose Stormy Daniels debt in next financial report: Walter Shaub and

[riversedge]

he he. Walter is calling him out.



[b Out of loopholes, Trump must disclose Stormy Daniels debt in next financial report


Walter Shaub and Adav Noti, Opinion contributors Published 3:15 a.m. ET May 14, 2018

Trump is out of loopholes. After failing to disclose his Stormy Daniels debt to Michael Cohen, he needs to come clean in his next financial report on that debt and any others he may have left out.

President Trump has a big decision to make. Unless he requests an extension, his personal financial disclosure report is due on Tuesday. Under the Ethics in Government Act, he has to disclose all liabilities that exceeded $10,000 at any time during calendar year 2017, even if he repaid them later that year. That includes his debt to Michael Cohen for the $130,000 payment Cohen made in October 2016 to adult film star Stormy Daniels (real name Stephanie Clifford).

The question is whether Trump will disclose that debt, as well as any others he may have omitted.

The answer should be easy, but the president is in a difficult position. He left out the Daniels-related debt in the financial disclosure report he filed on June 14, 2017. Disclosing it now means acknowledging that he should have disclosed it last year. Disclosure may also lead to damaging revelations if he omitted other liabilities from any past financial disclosure reports or incurred new ones since June. As a result, the president’s team may be looking for a way to justify the omission.


Rudy Giuliani, Trump’s personal lawyer, seemed to be trying out a loophole when he called the payment to Daniels an “expense.” He questioned the applicability of the Ethics in Government Act to the reimbursement of expenses. Even ignoring the disingenuousness of calling the payment an expense, however, there is no exception for expenses.

More: Cohen's legal woes keep getting worse and signs don't point to a Trump pardon

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The law comprehensively requires disclosure of “the total liabilities owed to any creditor.” ............................


..................For his part, Trump should avoid giving Justice another potential violation to investigate when he files his financial disclosure report Tuesday.

[Girard442]

1. Trump will submit a "clean" disclosure report and defy anyone to contest it.

He's a thug, not a chess player. Thugs gonna thug.

[Lonestarblue]

2. Trump will deny the debt and get away with it--for now.

So long as he continues to deny that he had anything to do with actually paying off Daniels, he can omit it from his disclosure, which he will do. Plus, it most likely is not a debt he actually owes because the fees various companies paid Cohen for his access to Trump probably paid for the Daniels payment and any others.

[progressoid]

3. "Unless he requests an extension"

[ehrnst]

4. "Requests an extension"

Never a sign of responsible, ethical behavior in a public official.

If you are in public office, financial transparency is an ethical priority.

If it's not, at best, you are an irresponsible public official.