An open letter to the U.S. Congress

Demand Investigation into President Trump's Unprecedented Bond Purchases

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I am deeply concerned about the recent revelations regarding President Trump's extensive bond purchases since taking office. According to filings from the Office of Government Ethics, the President has acquired at least $103 million worth of corporate and municipal bonds since his inauguration in January 2017. This unprecedented level of active trading by a sitting president raises serious ethical concerns and potential conflicts of interest that demand immediate attention and action. The scale and timing of these purchases are alarming. Approximately 690 transactions have been made through August 1, 2017, involving bonds from companies, local governments, and entities that could be directly affected by the President's policy decisions. This puts President Trump in a position to potentially benefit financially from his own administrative actions, which is a clear violation of ethical standards and possibly the law. Of particular concern is the President's direct ownership of bonds from major banks at a time when he is considering replacing the Federal Reserve Chair and has nominated an aide to the Fed's board. This intertwining of personal financial interests with critical monetary policy decisions is unacceptable and undermines the integrity of our financial system. While a senior administration official claims that Trump is not personally involved in these transactions, the fact remains that he has retained ownership of most of his business empire while in office, unlike previous presidents who divested to avoid conflicts of interest. This decision, coupled with his reported $3.2 billion increase in net worth since last year, paints a troubling picture of potential self-enrichment at the expense of public trust. I urge you to take immediate action by calling for a thorough, independent investigation into these bond purchases and their implications. We need full transparency on how these investments may be influencing policy decisions and whether they violate ethics laws or constitutional provisions such as the Emoluments Clause. Additionally, I ask that you support legislation to strengthen ethics requirements for the executive branch to prevent such conflicts of interest in the future. The American people deserve a government that works for their interests, not the personal financial gain of its leaders. Please act swiftly to address this critical issue and restore faith in the integrity of our highest office.

▶ Created on August 21, 2025 by Jeffrey Barlow

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