1. United States
2. Pa.
3. Letter

Recent financial disclosures have revealed that President Trump made significant corporate and municipal bond purchases while in office, including investments tied to companies whose major merger the administration may influence. From mid-November through late December 2025, the President’s financial disclosure shows he acquired approximately $100 million in municipal and corporate bonds. Among these were bonds issued by Netflix and Warner Bros. Discovery, purchased shortly after the companies announced an $83 billion merger deal. Trump bought multiple tranches of Netflix bonds and bonds from a subsidiary of Warner Bros. Discovery in December 2025. These transactions amounted to at least $1 million in Netflix and Warner-related corporate debt. The timing of these investments has drawn scrutiny because the merger remains subject to federal regulatory approval, and the President has publicly stated that his administration would be involved in reviewing the deal. While a White House spokesperson has said that the President’s investment portfolio is managed independently by third-party financial institutions and that he does not direct individual transactions, questions remain about whether such holdings could create actual or perceived conflicts of interest when executive actions affect companies in which the President holds investments. Congress has a constitutional obligation to provide oversight to ensure that high-level officials are not placed in situations where personal financial interests could conflict with public duties. Oversight should include: - Reviewing the timing and nature of the President’s bond purchases relative to pending regulatory decisions - Assessing whether current ethics and disclosure rules adequately prevent conflicts of interest for executive branch officials - Determining whether additional safeguards or disclosure requirements are necessary to maintain public trust and integrity in governance The American people deserve assurance that policy decisions and regulatory reviews are made impartially and in the public interest—not in ways that might benefit the personal financial portfolios of sitting officials. Transparency and accountability are essential to preserving confidence in our government.