Former New York City Mayor Rudy Giuliani defended President-elect Donald Trump’s plans to allow his children to continue to run his companies even if they are placed in a blind trust.
Appearing on CNN, Giuliani was pressed by host Jake Tapper, who pointed out, “If your kids run your businesses, it’s not a blind trust.”
“A blind trust is an independent trustee who takes over your portfolio and directs it without your input or any input from anyone around you,” Tapper explained, before asking Giuliani if Trump should set up a “true blind trust with no involvement from him or his kids?”
“Well, first of all, you realize those laws don’t apply to the president,” Giuliani countered. “The president doesn’t have to have a blind trust. For some reason when the law was written the president was exempt.”
Giuliani then turned to how a blind trust would affect the jobs of Trump’s children: Donald Jr., Ivanka, and Eric.
“I think he is in a very unusual situation, he basically would put his children out of work,” the former U.S. Attorney mused. “They’d have to go start a whole new businesses and that would set a set of whole new problems.”
“It would seem to me that if he set up a situation where the children were running it, there was a legal or clear document that meant that he would not involved, he would have no interest in it, he would have no input into it, he would just have a passive interest, that would be the kind of thing that would work here,” Giuliani said, although he looked somewhat unsure of his words.
“It’s kind of unrealistic to say you’re going to take the business away from the three people who are running it and give it to some independent person. Remember, they can’t work in the government because of the government rule against nepotism, though you’d be putting them out of work,” Giuliani said to a visibly skeptical Tapper.
“Well, Mr. Mayor, I don’t need to tell you that his children are a huge part of his advisory committee, they are advising the transition,” Tapper patiently explained while listing off all the family members involved. “If he does not set up a truly blind trust, how can the American people have confidence that when he makes a decision that he isn’t partly making it to enrich himself?”
“Even if he turned it over to an independent trustee, and it was the Trump Corporation, you can’t …” a befuddled Giuliani began before conceding, “There’s no perfect way to do this.”
Watch the video below via CNN: