Executive Power and the New Business Model: The Trump Social Truth
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Profiting from Presidential Announcements
Since August, President Trump has been capitalizing on his Truth Social announcements of official actions or positions. The Trump Media and Technology Group, which owns Truth Social, charges a fee of up to $100,000 a month to Wall Street traders for early access to these “market-moving” presidential statements. This new service aims to aid Truth Social, which is reportedly struggling, while simultaneously benefiting President Trump, who holds a 41.5% stake in a trust that benefits him exclusively.
Conflicts and Controversy
This arrangement has drawn criticism from commentators and members of Congress, including Republicans. The legality of this setup is contested, but the ethical issue is clear: it is a blatant conflict of interest. Any announcement by Truth Social of a governmental or presidential action could be influenced by Trump’s private financial gains from the service.
Presidential Profiteering: A New Business Model?
The Truth Social subscription service fits within what has been characterized as the “business model” presidency. This new model blurs the line between public and private interests. The subscription service is viewed as good for the market, beneficial for Truth Social, profitable for traders, and advantageous for Trump. Ethics and conflict of interest are dismissed in this pursuit of mutual gain.
No Room for Ethics?
This administration’s attitude towards conflict of interest marks a departure from long-standing government principles. This “business model” presidency not only serves personal gain but also disregards ethical constraints on the use of power to make deals based on a privatized understanding of the public interest.
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