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National

Trump teases plan to leave business, but questions linger

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Opening sequence

National

Trump teases plan to leave business, but questions linger

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COMING UP:Trump teases plan to leave business, but questions linger

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Transcript

00:00:00
>> You'll see.>> President-elect, Donald Trump, vowing to leave his business empire. Tweeting Wednesday, he will outline a plan for doing so in a December 15th news conference with his children, saying it is visually important he avoid any conflict of interest as president. It's a move some consider long overdue, says Reuters Breaking Views columnist, Gena Chong.
00:00:22
>> He's been running for president and before he was elected, for months, he knew that this was going to be an issue and It was something that should have been addressed or thought of when he decided to take this step.>> Now, the devil is in the details, as in how exactly Trump plans to extricate himself.
00:00:46
He's previously mentioned putting his vast holdings, comprised largely of real estate, in a blind trust run by his children. If so, Chong says some may want him to reconsider.>> People say that's not actually a blind trust, since obviously his children are people he is close to and will keep in touch with, while he is in the White House.
00:01:09
So it's not really an arm's length entity, if you have your children run it.>> Another option is a blind trust run by someone totally independent of Trump, who would not be influenced by him. But many ethics lawyers and political pundits, even the editorial page of The Wall Street Journal, are calling for the more extreme measure of liquidating his assets entirely.
00:01:30
>> Trump seems to be reticent to go that far. He mentioned that because many of his assets are real estate holdings, it would be difficult to just sell quickly. But he's also said he's going to put the country before his business. So there's a sense from some at ethics expert that if he really wanted to take care of the problem, he really should sell his business.
00:01:56
>> Trump's businesses include licensing deals, hotels and golf courses around the world. During the campaign, he filed a more than 100 page financial disclosure statement required by law showing he had financial interests in more than 500 entities.