This comes right on the heels of him and his family getting caught selling access to themselves under the guise of charity. First when they offered "coffee with Ivanka Trump" to the highest bidder and then a scheme allowing anyone who ponied up a million dollars access to Donald Trump through Don Jr. and Eric's brand new incorporated charity named "Opening Day".
If you were wondering, and I know you were, this is the exact same "criminal enterprise" and "slush fund" activities these rank hypocrites accused Hillary and Bill Clinton of when it came to their Global Initiative charity during the campaign.
The Trump clan claims the decision is part of a series of moves aimed at resolving some of the potential conflicts of interest that his business holdings pose yet stopping short of what top ethics experts actually recommend.
Trump claims he will donate the holdings of the foundation and then disband it which is of no consequence to him anyway since he hasn't put any of his own money into it since 2008! Like any real grifter he allowed others to give millions to the charity and then he doled it out as he saw fit under the false appearance that the donations were his own.
The news also follows a decision by his second son Eric Trump to suspend operations of his charity after the aforementioned "Opening Day" nonprofit that he and his brother Donald Trump Jr. had recently (last week) founded received negative attention for auctioning off access to their dear old dad.
Trump said in a statement on Saturday afternoon...
“The Foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups ... However, to avoid even the appearance of any conflict with my role as President I have decided to continue to pursue my strong interest in philanthropy in other ways,”
And don't believe Trump is doing this for any other reason than to disengage himself from an albatross hanging around his neck as an investigation into the foundation by The Washington Post revealed that the charity had engaged in self-dealing.
Even at this very moment New York Attorney General Eric Schneiderman has been investigating whether foundation spending benefitted Trump’s presidential campaign.
A spokeswoman for Schneiderman, said Saturday on Twitter that the foundation “cannot legally dissolve” until the investigation concludes.
Nice try Donny.
Throughout all these meaningless machinations remains the president-elect's ethical quandaries that his actual business present. Trump was to address this very issue at a December 15th press conference when he was to reveal his plans to sever ties to the Trump Organization. But Trump postponed the announcement and had his transition team announce there would be no further talk of the subject until January... don't hold your breath.
In closing: Do not be fooled by this classic Trumpian attempt at misdirection. He is dropping this news on Christmas because he knows the news cycle is slow and it will get top headline status. He believes this will garner him sympathy for having to shut down his "beloved" foundation and credibility for looking like he's doing the right thing. In reality his only reason for closing this so called charity is that it was nothing but a small con game, he is under investigation for that con game and now he thinks people will let him slide on the big con game which is keeping his businesses... where all the real money is to be made.