Former President Barack Obama took direct aim at President Donald Trump’s business interests during a Tuesday appearance on The Late Show, arguing that the commander-in-chief should be held to a clear ethical standard that prohibits outside financial entanglements.
“A good policy that I’d like to see followed is that the President of the United States shouldn’t have a bunch of side hustles that those companies and foreign entities can invest in,” Obama told host Stephen Colbert.
Obama’s remarks come as Trump faces mounting scrutiny over his acceptance of a Qatari jet, which he intends to use as the next Air Force One, and as private companies fund a $400 million ballroom project at the White House. Meanwhile, stock in the Trump family’s cryptocurrency has surged since his return to the Oval Office, raising fresh conflict-of-interest questions.
The former president framed his criticism as a matter of basic principle. “It seemed like a pretty obvious principle,” he said, in what was widely seen as a subliminal jab at the sitting president.
Obama also broadened his critique to the politicization of federal institutions. “The idea is that the Attorney General is the people’s lawyer. It’s not the president’s consigliere,” he said. “We can’t overcome the politicization of the criminal justice system.” He warned against using “the awesome power of the state” to target political enemies or reward allies.
Turning to Trump’s clemency record, Obama took aim at the president’s decision to pardon individuals involved in the January 6, 2021, attack on the U.S. Capitol. When asked what powers a president should not have, Obama said, “although this is in the Constitution, it’s a little hard to change, but maybe don’t pardon people who’ve given you a bunch of campaign contributions or invested in your businesses.”
The comments follow Obama’s recent defense of his selective criticism of Trump, arguing that speaking out on every misstep would diminish his impact. Obama explained why he doesn't criticize Trump more often in an earlier interview, noting the need to choose his moments carefully.
Obama’s latest salvo also comes amid heightened political tensions. Trump allies have blasted Obama for downplaying a shooter's anti-Trump motive following a recent incident at the White House Correspondents’ Association dinner, further polarizing the political landscape.
The appearance marked one of Colbert’s final episodes; The Late Show is set to air its last episode on May 21 after a public dispute between Colbert and Trump over a $16 million settlement with Paramount, CBS’s parent company.
