Does Trump's Plan for Conflict of Interests Go Far Enough?

Former Obama chief ethics lawyer and former George W. Bush chief ethics lawyer discuss Trump's plans to cut ties with his business interests.
4:17 | 01/15/17

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Transcript for Does Trump's Plan for Conflict of Interests Go Far Enough?
Stepping back from running his positions as meaningless from a conflicts of interest print perspective. The presidency is a full time job and it would have had to step back anyway. It's important understand that the president's now entering a world the public service. He's going to be asking its own appointees to make sacrifices. He's going to be asking their men and women in uniform who risk their lives in conflicts around the world. So no I don't think divestitures to higher price to pay to be the president of the United States of America. That is what to show that of the offices of government at that some distrust and fire from the incoming White House chief of staff let's talk more about that now with Richard painter. Former ethics chief for George W. Bush norm Eisen who held the same job for president. Obama and mr. Hazare began when you just saw mr. previously said that ms. Schaub is being political he doesn't have standing and he should be investigated. Well George I think that is terrible. Walt Schaub is a dedicated debt public servant has come up through the ranks under both Democrats and Republicans. Professor pain or will tell you that he wouldn't give you contribution to President Obama. He did before he was director his predecessor also had done the same what was a Republican mister Cusick who I work with beautifully at this time. Partisanship has no place Walt shabby is it true ethics hero for speaking out and George. He's cleared more than 50% of the nominations Republican nominations that have been provided to him so far verses 20% at this point. In the Obama transition which I'm which I. Mark Dodd and Richard Pena you've heard from the incoming trump administration they say that note the conflicts of interest laws do not apply to the president that is correct on that on this the central conflict of interest. Law and they said he's gone above and beyond what is called for by putting his. Essence into a trusted by putting his sons in charge of it no new foreign deals no information limited information what's going to be happening with the business and putting the hotel profits from foreign. It from from foreign countries indeed donating that to the treasury why isn't that good enough. Well some of the conflict of interest laws do apply to present the trigger there minus clause of the constitution which prohibits any type of benefit. From the foreign government and I'm not merely taking the profits up from the hotels. And putting those aside is not enough the need to look at bank loans and you know let need to look at foreign banks. Leasing space in the trump tower. There are broad range of issues that need to be dealt with. We've got the president's name up on buildings and places where there could be a terrorist attack this a very precarious situation. The Aussie government ethics has taken the right position on this one consistent with many Republicans and Democrats and by way OG Ian Waltz shop in particular were very very helpful moving bush nominees through is not a partisan organization at all. So what's the bottom line if if if we've seen what we're going to see from present like turned in terms of dealing with his conflicts of interest do you believe. He is going to be in violation of the constitution when he takes that oath on Friday. I believe yes if he does not make sure that all the foreign government payments and this includes banks and other corporations owned by foreign governments and sovereign wealth funds. That all that money is not out of the Trump Organization. By Friday when he takes the oath he will be in violation the constitution the founders. Knew the foreign governments would try to meddle in our elections Mellon our politics they did not want any foreign government money coming anyone holding a position of trust with our guy. See you nodding your head in agreement why. Is it congressman shape it's investigating Walter Schaub for doing his job George. After speaking so courageously was one of the most extraordinary acts of courage that I've seen from up a career. Public official instead of investigating the fact. That the president elect is gonna be violating the constitution with these flows of foreign funds they admit they have a probably sit oak. Well we want his lawyer said well we won't take the profits in the hotels. What about the golf courses what about that huge foreign bank clones what about the condos in the apartments that they sell the perm heading in the trademarks. At that mr. changes should be investigating the president elect's impending violation of the constitution. Not this poor government official was just trying to do his job and the end mr. Jacobs has endorsed that unconstitutional Milan let's take that question and thank you both very.

This transcript has been automatically generated and may not be 100% accurate.

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