AND YOU THINK YOU HAVE CREDIT CARD DEBT?

Among the “This has Never Happened Before” aspects of the Trump Presidency is the fact that he came into office with a “debt of at least $1 billion to 150 Wall Street banks and other financial institutions.” This quote is not from some left-leaning publication – it is from the Wall Street Journal . The banks owed huge sums include Wells Fargo, J.P, Morgan, Chase, and Fidelity Investments.

The ethics problems seem to revolve around the fact that these debts were packaged into bonds and then sold to investors.

So the question will be, since the new administration will be responsible for overseeing and regulating banks to which the President owes money, will this represent an important conflict of interest?