Ex-ethics chief busts Trump's 'zero or less' interest rate as another possible scam
President Donald Trump told reporters at the G7 summit in France's Biarritz he had taken two 'very, very good' phone calls from Chinese officials. (AFP / Nicholas Kamm)

President Donald Trump publicly pressured the Federal Reserve chairman to drop interest rates to "zero or less" -- and a former government ethics chief busted that as another possible scam.


Walter Shaub, the former director of the Office of Government Ethics who resigned in protest under Trump, pointed out that the president and his businesses stand to benefit from a sub-zero interest rate.

"Trump, whose businesses owe large debts affected by interest rates, is using his official position to pressure the Fed to cut interest rates—and wants rates to be less than zero(?)," Shaub tweeted. "I went into law to avoid math, but wouldn’t that mean lenders paying borrowers to owe them money?"