{"id":29,"date":"2026-07-11T01:30:16","date_gmt":"2026-07-11T01:30:16","guid":{"rendered":"https:\/\/maxinefilmes.com\/odelator\/trump-administration-financial-disclosures-steve-feinberg\/"},"modified":"2026-07-11T02:15:54","modified_gmt":"2026-07-11T02:15:54","slug":"trump-administration-financial-disclosures-steve-feinberg","status":"publish","type":"post","link":"https:\/\/maxinefilmes.com\/odelator\/trump-administration-financial-disclosures-steve-feinberg\/","title":{"rendered":"Documents Reveal a Web of Financial Ties Between Trump Officials and the Industries They Help Regulate"},"content":{"rendered":"<p><main id=\"main\" class=\"wp-block-group content p-grid-container is-layout-flow wp-block-group-is-layout-flow\"><\/p>\n<article class=\"wp-block-group p-grid-text-container is-layout-flow wp-block-group-is-layout-flow\">\n<header class=\"wp-block-group entry-header is-layout-flow wp-container-core-group-is-layout-3ce78d47 wp-block-group-is-layout-flow\">\n<div class=\"wp-block-propublica-opener\">\n<div class=\"wp-block-group p-opener p-opener--full p-opener--left p-opener--full-hed-below-art is-layout-flow wp-container-core-group-is-layout-a77db08e wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group p-opener__art-wrapper is-layout-flow wp-container-core-group-is-layout-a77db08e wp-block-group-is-layout-flow\">\n<figure>\n\t\t\t\t\t<img\n\t\t\t\tclass=\"p-opener__art\"\n\t\t\t\talt=\"An illustration of three men in suits walking in a line with dark shadows obscuring their bodies. The man leading the group has money flying out of his briefcase.\"\n\t\t\t\twidth=\"1149\"\n\t\t\t\theight=\"766\"\n\t\t\t\tsrc=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?w=1149\"\n\t\t\t\tsizes=\"100vw\"\n\t\t\t\tsrcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg 2270w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=300,200 300w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=768,512 768w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=1024,683 1024w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=1536,1024 1536w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=2048,1365 2048w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=863,575 863w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=422,281 422w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=552,368 552w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=558,372 558w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=527,351 527w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=752,501 752w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=1149,766 1149w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=459,306 459w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=2000,1333 2000w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=400,267 400w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=800,533 800w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=1200,800 1200w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/Disclosures_Lead_2.jpg?resize=1600,1066 1600w\"\n\t\t\t\tfetchpriority=\"high\"\n\t\t\t\tstyle=\"object-position: 75% 42%;\"\t\t\t\/><figcaption class=\"p-attribution screen-reader-text\">\n<p>\t\t\t\t\t\t\t\t\t<span class=\"p-attribution__credit\"><br \/>\n                        Ben Hickey for ProPublica<br \/>\n                    <\/span><br \/>\n\t\t\t\t\t\t\t<\/figcaption><\/figure>\n<\/p><\/div><figcaption class=\"p-attribution\" aria-hidden=\"true\">\n<p>\t\t\t\t\t\t\t\t\t<span class=\"p-attribution__credit\"><br \/>\n\t\t\t\t\t\tBen Hickey for ProPublica<br \/>\n\t\t\t\t\t<\/span><br \/>\n\t\t\t\t\t\t\t<\/figcaption><div class=\"wp-block-group p-opener__topic-title-dek-wrapper is-layout-flow wp-block-group-is-layout-flow\">\n<h1 class=\"p-opener__hed   wp-block-post-title\">Documents Reveal a Web of Financial Ties Between Trump Officials and the Industries They Help Regulate<\/h1>\n<h2 class=\"p-opener__dek wp-block-propublica-dek\">\n\tProPublica is releasing a trove of disclosure records that detail the finances of more than 1,500 Trump appointees, including former lobbyists, industry executives and at least a dozen officials who declined to identify former clients.<\/h2>\n<\/p><\/div>\n<\/div>\n<div class=\"wp-block-group p-article-meta-1 p-article-meta-1--left is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"p-article-meta-1__byline wp-block-propublica-byline\">\n<div class=\"wp-block-propublica-byline__photos\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.propublica.org\/people\/corey-johnson\" aria-hidden=\"true\" tabindex=\"-1\" class=\"wp-block-propublica-byline__photo-link\"><br \/>\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?w=50\"\n\t\t\t\t\t\tsrcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?w=50 1x, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?w=100 2x\"\n\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\tclass=\"wp-block-propublica-byline__photo\"\n\t\t\t\t\t\twidth=\"50\"\n\t\t\t\t\t\theight=\"50\"\n\t\t\t\t\t\/><br \/>\n\t\t\t\t<\/a><br \/>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.propublica.org\/people\/brandon-roberts\" aria-hidden=\"true\" tabindex=\"-1\" class=\"wp-block-propublica-byline__photo-link\"><br \/>\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?w=50\"\n\t\t\t\t\t\tsrcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?w=50 1x, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?w=98 2x\"\n\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\tclass=\"wp-block-propublica-byline__photo\"\n\t\t\t\t\t\twidth=\"50\"\n\t\t\t\t\t\theight=\"50\"\n\t\t\t\t\t\/><br \/>\n\t\t\t\t<\/a><br \/>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.propublica.org\/people\/al-shaw\" aria-hidden=\"true\" tabindex=\"-1\" class=\"wp-block-propublica-byline__photo-link\"><br \/>\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?w=50\"\n\t\t\t\t\t\tsrcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?w=50 1x, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?w=100 2x\"\n\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\tclass=\"wp-block-propublica-byline__photo\"\n\t\t\t\t\t\twidth=\"50\"\n\t\t\t\t\t\theight=\"50\"\n\t\t\t\t\t\/><br \/>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n<div class=\"wp-block-propublica-byline__right\">\n<div class=\"wp-block-propublica-byline__content\">\n\t\t\t<span class=\"wp-block-propublica-byline-text\">by <\/span><span class=\"wp-block-propublica-byline-profile\"><a href=\"https:\/\/www.propublica.org\/people\/corey-johnson\">Corey G. Johnson<\/a><\/span><span class=\"wp-block-propublica-byline-text\">, <\/span><span class=\"wp-block-propublica-byline-profile\"><a href=\"https:\/\/www.propublica.org\/people\/brandon-roberts\">Brandon Roberts<\/a><\/span><span class=\"wp-block-propublica-byline-text\"> and <\/span><span class=\"wp-block-propublica-byline-profile\"><a href=\"https:\/\/www.propublica.org\/people\/al-shaw\">Al Shaw<\/a><\/span>\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"p-article-meta-1__pubdate wp-block-post-date\"><time datetime=\"2026-03-05T05:00:00-05:00\">March 5, 2026, 5:00 am<\/time><\/div>\n<div class=\"wp-block-group p-article-meta-1__section-actions p-article-meta-1__section-actions--left is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group p-article-meta-1__section-actions-container is-nowrap is-layout-flex wp-container-core-group-is-layout-6c531013 wp-block-group-is-layout-flex\">\n<p>                <script type=\"application\/json\" class=\"svelte-config\">\n                    {\"componentName\":\"ShareToolsRebrand\",\"props\":{\"pageTitle\":\"Documents Reveal a Web of Financial Ties Between Trump Officials and the Industries They Help Regulate\",\"pageUrl\":\"https:\/\/www.propublica.org\/article\/trump-administration-financial-disclosures-steve-feinberg\"},\"contextArray\":[]}\n                <\/script><\/p>\n<div style=\"display: contents\">\n                    <!--[--><\/p>\n<div class=\"share-tools\" data-pp-click=\"\" data-pp-location=\"share tools\"><!--[--><!--[--><!--$s1--><!--[0--><\/p>\n<div class=\"svelte-1ear6bd button--circle\" style=\"display: contents; --button-bg-color: var(--p-dyn-color-white); --button-text-color: var(--p-dyn-color-gray-05); --button-border: 1px solid var(--p-dyn-color-gray-01); --button-font-size: var(--p-scale-4);\"><!--[--><!----><button data-button-root=\"true\" type=\"button\" tabindex=\"0\" id=\"bits-s1\" aria-haspopup=\"dialog\" aria-expanded=\"false\" data-state=\"closed\" data-popover-trigger=\"\" aria-label=\"Share\"><span aria-hidden=\"true\" style=\"display: contents\"><svg viewBox=\"0 0 24 24\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><g clip-path=\"url(#clip0_149_321)\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M4 11C4.55228 11 5 11.4477 5 12V20C5 20.2652 5.10536 20.5196 5.29289 20.7071C5.48043 20.8946 5.73478 21 6 21H18C18.2652 21 18.5196 20.8946 18.7071 20.7071C18.8946 20.5196 19 20.2652 19 20V12C19 11.4477 19.4477 11 20 11C20.5523 11 21 11.4477 21 12V20C21 20.7957 20.6839 21.5587 20.1213 22.1213C19.5587 22.6839 18.7957 23 18 23H6C5.20435 23 4.44129 22.6839 3.87868 22.1213C3.31607 21.5587 3 20.7956 3 20V12C3 11.4477 3.44772 11 4 11Z\" fill=\"currentColor\"><\/path><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11.2929 1.29289C11.6834 0.902369 12.3166 0.902369 12.7071 1.29289L16.7071 5.29289C17.0976 5.68342 17.0976 6.31658 16.7071 6.70711C16.3166 7.09763 15.6834 7.09763 15.2929 6.70711L12 3.41421L8.70711 6.70711C8.31658 7.09763 7.68342 7.09763 7.29289 6.70711C6.90237 6.31658 6.90237 5.68342 7.29289 5.29289L11.2929 1.29289Z\" fill=\"currentColor\"><\/path><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M12 1C12.5523 1 13 1.44772 13 2V15C13 15.5523 12.5523 16 12 16C11.4477 16 11 15.5523 11 15V2C11 1.44772 11.4477 1 12 1Z\" fill=\"currentColor\"><\/path><\/g><defs><clipPath id=\"clip0_149_321\"><rect width=\"24\" height=\"24\" fill=\"white\"><\/rect><\/clipPath><\/defs><\/svg><!----><\/span><!----><!----><\/button><!----><!--]--><\/div>\n<p><!----><!--]--><!----><!--]--> <!--[--><!--[-1--><!--]--><!--]--><!----><!----><!--]--><\/div>\n<p><!--]-->\n                <\/div>\n<p>                <script type=\"application\/json\" class=\"svelte-config\">\n                    {\"componentName\":\"DarkModeToggleRebrand\",\"props\":{},\"contextArray\":[]}\n                <\/script><\/p>\n<div style=\"display: contents\">\n                    <!--[--><\/p>\n<div class=\"dark-mode-toggle svelte-1l6vey\">\n<div class=\"svelte-1ear6bd button--circle\" style=\"display: contents; --button-bg-color: var(--p-color-page-bg); --button-text-color: var(--p-dyn-color-gray-05); --button-border: 1px solid var(--p-dyn-color-gray-01); --button-font-size: var(--p-scale-4);\"><!--[--><!----><button data-button-root=\"true\" tabindex=\"-1\" aria-hidden=\"true\"><span aria-hidden=\"true\"><!--[-1--><svg role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><title>Contrast<\/title><circle cx=\"12\" cy=\"12\" r=\"10\"><\/circle><path fill=\"currentColor\" d=\"M12 18a6 6 0 000-12v12z\"><\/path><\/svg><!--]--><\/span><!----><!----><\/button><!----><!--]--><\/div>\n<p><!----> <label class=\"p-a11y\" for=\"dark-mode-toggle__select\">Change Appearance<\/label> <select class=\"dark-mode-toggle__select svelte-1l6vey\" id=\"dark-mode-toggle__select\" data-pp-change=\"true\" data-pp-category=\"change-mode\"><!--[--><option value=\"auto\" selected=\"\">Auto<\/option><option value=\"light\">Light<\/option><option value=\"dark\">Dark<\/option><!--]--><\/select><\/div>\n<p><!--]-->\n                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"wp-block-group article-body is-layout-flow wp-block-group-is-layout-flow\">\n<aside class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-propublica-notes--top wp-block-propublica-notes\">\n<div class=\"wp-block-propublica-note\">\n<p>ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive <a href=\"https:\/\/www.propublica.org\/newsletters\/the-big-story?source=www.propublica.org&#038;placement=top-note&#038;region=national\">our biggest stories<\/a> as soon as they\u2019re published.<\/p>\n<\/div>\n<div class=\"wp-block-propublica-note--related-story wp-block-propublica-note\">\n<\/div>\n<\/div>\n<\/aside>\n<div class=\"entry-content wp-block-post-content is-layout-flow wp-block-post-content-is-layout-flow\">\n<figure class=\"wp-block-propublica-iframe bb--size-small-right p-bb--size-small-right\">\n<div class=\"wp-block-propublica-iframe__wrapper\" style=\"padding-top: 56.25%;\">\n\t\t<iframe\n\t\t\tsrc=\"https:\/\/iframe.propublica.net\/iframe\/5993ae2e-66ac-4949-b494-0c21c9d39b95?width=752&#038;height=423\"\n\t\t\tid=\"iframe-5993ae2e-66ac-4949-b494-0c21c9d39b95\"\n\t\t\twidth=\"752\"\n\t\t\theight=\"423\"\n\t\t\tscrolling=\"no\"\n\t\t\tframeborder=\"0\"\n\t\t\tclass=\"iframe-embed\"\n\t\t\treferrerpolicy=\"strict-origin-when-cross-origin\"\n\t\t\tallowfullscreen\n\t\t><\/iframe>\n\t<\/div>\n<\/figure>\n<p>Thousands of companies are jockeying for billions of dollars in Defense Department contracts to build a shield designed to intercept and destroy missiles launched against the United States.<\/p>\n<p>But amid the intense competition, a handful of firms have an important inside connection.<\/p>\n<p>At least four of the companies awarded contracts so far are owned by Cerberus Capital Management, a private equity firm founded by billionaire Steve Feinberg, who until last year ran the company and is now the deputy secretary of defense \u2014 the second-highest-ranking official in the Pentagon.<\/p>\n<p>Feinberg oversees the office in charge of the Golden Dome for America project, which is modeled on Israel\u2019s Iron Dome missile defense system.<\/p>\n<p>Feinberg filed paperwork saying he divested from Cerberus and its related businesses. But his government ethics records contain an unusual clause: He is allowed to continue contracting with the company for tax compliance and accounting services as well as health care coverage, a financial relationship that documents show could continue indefinitely.<\/p>\n<p>Feinberg\u2019s financial statements and ethics agreement are part of <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/\">a trove of nearly 3,200 disclosure records<\/a> that ProPublica is making public today. The disclosures, which can be viewed in a searchable online tool, detail the finances of more than 1,500 federal officials appointed by President Donald Trump. Records for Trump and Vice President JD Vance are also included.<\/p>\n<div class=\"p-hide-print p-bb--size-full wp-block-propublica-ad-slot\">\n<div id=\"bsa-zone_1760102005055-6_123456\"><\/div>\n<\/div>\n<p>The documents reveal a web of financial ties between senior government officials and the industries they help regulate \u2014 relationships that have drawn scrutiny as Trump has dismantled ethics safeguards designed to prevent conflicts of interest.<\/p>\n<p>On his first day back in office, Trump rescinded <a href=\"https:\/\/www.federalregister.gov\/documents\/2021\/01\/25\/2021-01762\/ethics-commitments-by-executive-branch-personnel\">an executive order<\/a> signed by President Joe Biden that required his appointees to comply with an ethics pledge. The pledge barred them from working on issues related to their former lobbying topics or clients for two years. Weeks later, Trump fired 17 inspectors general charged with investigating fraud, corruption and conflicts of interest across the federal government. Around the same time, he removed the head of the Office of Government Ethics, the agency that oversees ethics compliance throughout the executive branch. The office is currently without a head or a chief of staff.<\/p>\n<div class=\"wp-block-propublica-lead-in bb--size-small-right p-bb--size-small-right\">\n<h3 class=\"wp-block-heading\" id=\"h-read-more\">Read More<\/h3>\n<\/p>\n<div class=\"wp-block-propublica-story-promo\">\n\t<a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/\" class=\"story-promo\"><\/p>\n<div class=\"story-promo__art\">\n\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"459\" height=\"306\" src=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?w=459&amp;h=306&amp;crop=1\" class=\"attachment-propublica-story-promo size-propublica-story-promo wp-post-image\" alt=\"\" srcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg 3000w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=300,200 300w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=768,512 768w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=1024,683 1024w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=1536,1024 1536w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=2048,1365 2048w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=863,575 863w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=422,281 422w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=552,368 552w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=558,372 558w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=527,351 527w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=752,501 752w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=1149,766 1149w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=459,306 459w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=2000,1333 2000w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=400,267 400w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=800,533 800w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=1200,800 1200w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/20251002-Hickey-Disclosures_3-FINAL_maxHeight_3000_maxWidth_3000-1.jpg?resize=1600,1067 1600w\" sizes=\"(max-width: 459px) 100vw, 459px\" js-autosizes=\"true\" \/>\t\t<\/div>\n<div class=\"story-promo__info\">\n\t\t\t<strong class=\"story-promo__hed\">Explore Financial Disclosures From President Trump and 1,600 of His Appointees<\/strong>\n\t\t<\/div>\n<p>\t<\/a>\n<\/div>\n<\/div>\n<p>Against that backdrop, ProPublica has, over the past year, used the disclosure records to investigate how personal financial interests have intersected with government decision-making inside the Trump administration.<\/p>\n<p>The documents helped show that senior executive branch officials, <a href=\"https:\/\/www.propublica.org\/article\/pam-bondi-trump-media-stock-tariffs\">including Attorney General Pam Bondi<\/a>, made well-timed securities trades, at times <a href=\"https:\/\/www.propublica.org\/article\/us-officials-stock-sales-trump-tariffs\">selling stocks just before markets plunged<\/a> because Trump announced new tariffs. (The officials either did not respond to requests for comment or said they had no insider information before they made their trades.)<\/p>\n<p>Other disclosures revealed that two high-ranking scientists at the Environmental Protection Agency who recently helped downgrade the agency\u2019s assessment of <a href=\"https:\/\/www.propublica.org\/article\/epa-formaldehyde-risk-assessment\">the health risks of formaldehyde<\/a> had previously held senior positions at the chemical industry\u2019s leading trade group. (The EPA said the scientists had obtained ethics advice approving their work on the project.)<\/p>\n<p>In December, ProPublica reported that Trump has appointed more than 200 people who collectively owned \u2014 either by themselves or with their spouses \u2014 between $175 million and $340 million in cryptocurrency investments at the time they filed their disclosures. Some of those appointees now hold <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-crypto-doj-trump\">positions overseeing or influencing regulation of the crypto industry<\/a>. Among them are Todd Blanche, Trump&#8217;s former criminal defense attorney and now the second-highest-ranking official in the Justice Department.<\/p>\n<p><a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/blanche-todd\/\">Blanche\u2019s disclosure records<\/a> show that he <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-crypto-doj-trump\">owned at least $159,000<\/a> in crypto-related assets last year when <a href=\"https:\/\/www.justice.gov\/dag\/media\/1395781\/dl?inline\">he shut down<\/a> investigations into crypto companies, dealers and exchanges.<\/p>\n<p>After ProPublica reported on Blanche\u2019s actions, six Democratic senators <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-crypto-conflict-senator-letter\">accused him of a \u201cglaring\u201d conflict of interest<\/a>, and a watchdog group <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-complaint-conflict-of-interest\">asked the Justice Department\u2019s inspector general to investigate<\/a>. A Justice Department spokesperson has said Blanche upholds the highest ethical standards and that his crypto orders were \u201cappropriately flagged, addressed and cleared in advance,\u201d but she did not respond to questions asking who had cleared his actions.<\/p>\n<p>Conflicts of interest have long plagued both Democratic and Republican administrations. But ethics experts say Trump\u2019s second term marks a sharp break from modern norms.<\/p>\n<p>Trump has openly defended his family\u2019s financial enrichment while he is in office, including <a href=\"https:\/\/www.nytimes.com\/2025\/04\/29\/us\/politics\/trump-crypto-world-liberty-financial.html\">through cryptocurrency deals<\/a> that critics say allow investors, including foreign entities, to curry favor by boosting the president\u2019s personal wealth.<\/p>\n<p>\u201cI found out nobody cared, and I\u2019m allowed to,\u201d <a href=\"https:\/\/www.nytimes.com\/2026\/01\/08\/us\/politics\/trump-family-foreign-business-deals.html\">Trump told The New York Times<\/a>, referring to his family\u2019s business dealings.<\/p>\n<p>Trump also remains unapologetic about accepting a Boeing 747 worth about $400 million from the Qatari government and transferring nearly $1 billion from a nuclear weapons program to retrofit it. Virginia Canter, chief counsel for ethics and corruption at Democracy Defenders Fund, a nonprofit governmental watchdog group, cited Trump\u2019s new plane as a brazen example of self-dealing.<\/p>\n<div class=\"p-hide-print p-bb--size-full wp-block-propublica-ad-slot\">\n<div id=\"bsa-zone_1760102469343-3_123456\"><\/div>\n<\/div>\n<p>\u201cEthics is in the toilet,\u201d said Canter, who served as an ethics lawyer at the White House, Treasury Department and Securities and Exchange Commission during the presidencies of George H.W. Bush, Bill Clinton, George W. Bush and Barack Obama.<\/p>\n<p>White House spokesperson Anna Kelly defended the president and his appointees. \u201cPresident Trump is leading the most transparent administration in history,\u201d Kelly said. \u201cHe has also nominated highly-qualified individuals across the Executive Branch who have a wide range of public and private sector backgrounds.\u201d<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p>The idea of a space-based missile defense shield has persisted ever since President Ronald Reagan proposed his own version nicknamed \u201cStar Wars.\u201d<\/p>\n<p>Trump rekindled the idea on the campaign trail. His Golden Dome for America imagines a battery of weapons, deployed from land, sea and space, able to destroy missiles launched at the U.S.<\/p>\n<aside class=\"wp-block-propublica-aside bb--size-small-right p-bb--size-small-right\">\n<p>We are continuing our reporting on conflicts of interest in the Trump administration. Do you have information you can share about any of the people in our database? Or about current officials not found in our online tool who might have conflicts? You can reach our tip line on Signal at 917-512-0201. Please be as specific, detailed and clear as you can.<\/p>\n<\/aside>\n<p>In December, the Defense Department started selecting companies for the project, for which it has allocated as much as $151 billion. So far, the agency has granted awards to more than 2,000 firms. Cerberus owns or is a majority investor in at least four of them: North Wind, Stratolaunch, Red River Technology and NetCentrics Corp.<\/p>\n<p>Citing national security concerns, defense officials have not publicized the amounts of each contract or the products or services the companies are providing. (The Defense Department is required by law to publicly announce only contracts worth more than $9 million.)<\/p>\n<p>Feinberg, who co-founded Cerberus in 1992, <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/feinberg-stephen-andrew\/\">listed assets worth at least $2 billion<\/a> when he was nominated by Trump last year. In his ethics agreement, Feinberg said he would divest his stake in the firm, potentially giving assets to irrevocable trusts benefiting his adult children \u2014 a maneuver that is legal under federal conflict-of-interest law but one that ethics experts say undermines its intent.<\/p>\n<p>Feinberg also told ethics officials that he needed to contract with Cerberus for accounting, tax and health care services in the short term but would find other providers by April 2026. However, at Feinberg\u2019s request, Defense Department officials approved an extension earlier this year, allowing the financial relationship to continue without an end date. In an amendment to his ethics agreement, he said he would \u201cpay customary and reasonable fees\u201d for Cerberus\u2019 services but did not say how much those would be.<\/p>\n<figure class=\"wp-block-image size-propublica-position-large bb--size-large p-bb--size-large\"><img loading=\"lazy\" decoding=\"async\" js-autosizes height=\"766\" width=\"1149\" src=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?w=1149\" alt=\"Three men sitting at a table. Feinberg and Hegseth are in suits while the third is in military dress uniform.\" class=\"wp-image-69190\" srcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg 3000w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=300,200 300w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=768,512 768w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=1024,683 1024w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=1536,1024 1536w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=2048,1365 2048w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=863,575 863w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=422,281 422w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=552,368 552w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=558,372 558w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=527,351 527w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=752,501 752w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=1149,766 1149w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=459,306 459w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=2000,1333 2000w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=400,267 400w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=800,533 800w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=1200,800 1200w, https:\/\/www.propublica.org\/wp-content\/uploads\/2026\/03\/2025-07-21T165848Z_3546884_RC22RFAZ9DRV_RTRMADP_3_USA-TRUMP-PHILIPPINES_maxHeight_3000_maxWidth_3000.jpg?resize=1600,1067 1600w\" sizes=\"auto, (max-width: 1149px) 100vw, 1149px\" \/><figcaption class=\"attribution\"><span class=\"attribution__caption\">Deputy Secretary of Defense Steve Feinberg, center, with Defense Secretary Pete Hegseth, right, at the Pentagon in 2025<\/span> <span class=\"attribution__credit\">Jonathan Ernst\/Reuters<\/span><\/figcaption><\/figure>\n<p>It\u2019s unclear what role Feinberg has played \u2014 or will play \u2014 in deciding which firms receive Golden Dome contracts. In response to questions from ProPublica, the Defense Department said Feinberg does not \u201chave direct responsibility for any Golden Dome acquisitions\u201d but did not elaborate. The department would not comment on whether Feinberg or anyone in his office had met with any contractor representatives.<\/p>\n<p>What is not disputed is Feinberg\u2019s oversight of the Golden Dome initiative. Space Force Gen. Michael Guetlein, who heads the project, <a href=\"https:\/\/www.war.gov\/News\/Releases\/Release\/Article\/4251596\/general-guetlein-to-lead-the-office-of-golden-dome-for-america\/\">reports directly to him<\/a>.<\/p>\n<p>Richard Painter, a former White House ethics lawyer under President George W. Bush, said Feinberg\u2019s ongoing relationship with Cerberus creates at least a perception of a conflict of interest that could undermine confidence in the fairness of the contracting process.<\/p>\n<p>\u201cThis is what President Eisenhower worried about in the 1960s\u201d when he railed against the military-industrial complex, Painter said of Eisenhower\u2019s farewell address warning of the risks of a too-close relationship between the military and private defense businesses.<\/p>\n<div class=\"p-hide-print p-bb--size-full wp-block-propublica-ad-slot\">\n<div id=\"bsa-zone_1760102552591-0_123456\"><\/div>\n<\/div>\n<p>In response to questions from ProPublica, a Cerberus spokesperson said in an email: \u201cMr. Feinberg divested his stake in Cerberus and any funds that it manages, and is not involved with the operations of Cerberus or any of its portfolio companies in any way.\u201d The spokesperson added that the administrative services provided to Feinberg \u201care unrelated to any investment activities or operations of Cerberus or its funds and were pre-approved by the Department of War\u2019s Ethics Office and the Office of Government Ethics.\u201d<\/p>\n<p>Another top official in the department is <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/berkowitz-marc\/\">Marc Berkowitz<\/a>, who was confirmed in December as assistant secretary of defense for space policy. During his confirmation, Berkowitz described the Golden Dome project <a href=\"https:\/\/www.armed-services.senate.gov\/imo\/media\/doc\/berkowitz_apq_responses1.pdf\">as one of his top priorities<\/a>.<\/p>\n<p>Berkowitz previously worked as a space industry consultant and vice president for strategic planning at Lockheed Martin. The giant defense and aerospace company was among the firms awarded Golden Dome contracts days before Berkowitz\u2019s confirmation.<\/p>\n<p>Lockheed is likely to compete for a large role in the project. The company has set up <a href=\"https:\/\/www.lockheedmartin.com\/en-us\/capabilities\/missile-defense\/golden-dome-missile-defense.html\">a webpage dedicated to the Golden Dome<\/a>, and <a href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/trumps-golden-dome-missile-shield-marks-one-year-with-little-progress-2026-01-27\/\">Reuters reported that Lockheed<\/a> is one of several firms that received contracts to build competing prototypes of the missile defense system.<\/p>\n<p>In his financial disclosure documents, Berkowitz reported receiving two monthly pensions from Lockheed and owning between $1 million and $5 million worth of stock in the firm.<\/p>\n<p>Berkowitz agreed to divest by March 18, documents show. During his confirmation hearing, he <a href=\"https:\/\/meritalk.com\/articles\/trump-nominee-emphasizes-golden-dome-as-cornerstone-of-missile-defense-policy\/\">downplayed any potential role he would have in Golden Dome contract decisions<\/a>, noting that his position was more about policy.<\/p>\n<p>A senior Defense Department official told ProPublica that Berkowitz is recusing himself from matters involving Lockheed until his remaining shares are sold.<\/p>\n<p>Pentagon spokesperson Sean Parnell said the department\u2019s ethics framework is \u201crigorous\u201d and that Feinberg and Berkowitz are in full compliance with the law.<\/p>\n<p>\u201cAny claims to the contrary are fake news,\u201d Parnell said.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p>Other agencies have similar industry links. Across the administration, former lobbyists and corporate executives now occupy influential positions, <a href=\"https:\/\/www.nytimes.com\/2025\/01\/08\/us\/politics\/pam-bondi-trump-attorney-general-lobbyist.html\">including Bondi<\/a>, <a href=\"https:\/\/www.nytimes.com\/2024\/11\/21\/us\/politics\/susie-wiles-trump-lobbying.html\">White House Chief of Staff Susie Wiles<\/a> and Transportation Secretary <a href=\"https:\/\/www.politico.com\/news\/2025\/09\/21\/lobbying-connections-duffy-wiles-00574382\">Sean Duffy<\/a>.<\/p>\n<p>Their ties to former clients have made national headlines, but ProPublica\u2019s searchable online tool provides <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/\">the public an important glimpse<\/a> into the financial relationships or industry links of a powerful and often hidden cadre of presidential appointees within the federal bureaucracy.<\/p>\n<p>Reports show that after being nominated to head the National Highway Traffic Safety Administration, <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/morrison-jonathan\/\">Jonathan Morrison<\/a> revealed he served for two years as a director of the Autonomous Vehicle Industry Association, the trade group that represents companies that make and use self-driving cars. He left the position in February 2024.<\/p>\n<div class=\"p-hide-print p-bb--size-full wp-block-propublica-ad-slot\">\n<div id=\"bsa-zone_1760102636564-5_123456\"><\/div>\n<\/div>\n<p>At <a href=\"https:\/\/www.ttnews.com\/articles\/trump-nhtsa-pick-autonomous\">his confirmation hearing last year<\/a>, Morrison said he wanted the NHTSA to set national standards and play a leading role in the industry\u2019s development of self-driving vehicles.<\/p>\n<p>Sean Rushton, an NHTSA spokesperson, said Morrison had an unpaid position on the autonomous vehicle group\u2019s board of directors and doesn\u2019t have to recuse himself from matters involving the organization because he left long before the presidential election and his nomination as highway traffic safety administrator.<\/p>\n<p>Most political appointees and senior officials in the executive branch are required by law to file public financial disclosure reports. These documents detail their financial assets, the positions they hold outside government, their spouse\u2019s holdings, their liabilities and their recent financial transactions (such as buying or selling stock) during a defined reporting period. For the most part, the law does not require appointees to provide exact financial values but instead a range.<\/p>\n<p>At least a dozen appointees withheld the identities of previous clients, ProPublica found.<\/p>\n<p>Appointees are allowed to keep the name of former clients confidential under exceptional circumstances, such as when the identity is protected by a court order or revealing the name would violate the rules of a professional licensing organization. In <a href=\"https:\/\/nysba.org\/wp-content\/uploads\/2025\/03\/NYSBA-NY-Rules-of-Professional-Conduct-2025-web-1.pdf?srsltid=AfmBOooEqEEA9QXyRL8x7stPRxJwpOqJemeFZp-46jpEoxFgm6j65ozz\">New York<\/a> and Washington, D.C., for example, the organizations that license attorneys prohibit them from <a href=\"https:\/\/www.dcbar.org\/for-lawyers\/legal-ethics\/rules-of-professional-conduct\/client-lawyer-relationship\/confidentiality-of-information\">revealing confidential information<\/a> about a client in most situations, including if doing so would be embarrassing or is likely to be detrimental to the client. While the relationship between a client and an attorney is often made public, in some cases \u2014 if, for instance, an appointee had conducted legal defense work for a client during a nonpublic criminal investigation \u2014 the client&#8217;s identity could be withheld from the financial disclosure.<\/p>\n<p><a href=\"https:\/\/www.oge.gov\/web\/278eGuide.nsf\/Definitions#Confidential_Clients\">Guidelines issued by the Office of Government Ethics<\/a> say that such situations are unusual and \u201cit is extremely rare for a filer to rely on this exception for more than a few clients.\u201d<\/p>\n<p>But at the Office of the U.S. Trade Representative, which is responsible for tariff policy, the head of the agency, Jamieson Greer, <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/greer-jamieson\/#4_1435_1\">withheld the names of more than 50 former clients from his time at King &amp; Spalding<\/a>, one of the nation\u2019s most influential law firms. In his disclosure, Greer cited the New York and D.C. bar rules for not identifying the clients.<\/p>\n<p>Greer\u2019s senior adviser in the federal agency, Kwan Kim, previously worked as an international trade lawyer for Covington &amp; Burling. From October 2020 to February 2025, Kim helped businesses win federal exemptions from steel and aluminum tariffs and defended companies accused by investigators of import-related crimes, according to a Covington biography that has since been taken down. <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-appointees\/appointees\/kim-kwan-w\/#4_1968_1\">Kim kept the names of 52 companies he represented secret<\/a>, citing the D.C. Bar rules, the disclosure documents show.<\/p>\n<p>The U.S. Trade Representative office did not respond to ProPublica\u2019s request for comment.<\/p>\n<p>When the names of former clients are withheld, it becomes virtually impossible for the public to know if an official\u2019s actions in government benefit a former client. Kedric Payne, ethics director at the nonpartisan watchdog group Campaign Legal Center, said the lack of disclosure is concerning.<\/p>\n<p>\u201cWhen you see these types of close connections between the regulated community and the new regulators, it raises a yellow flag,\u201d Payne said. \u201cBecause these officials are walking an ethical tightrope where any meeting or communication with their former employer and client could become a serious conflict of interest.\u201d<\/p>\n<div class=\"p-hide-print p-bb--size-full wp-block-propublica-ad-slot\">\n<div id=\"bsa-zone_1760102719203-6_123456\"><\/div>\n<\/div>\n<p>ProPublica\u2019s journalists have been gathering these records for more than a year. We obtained all of the disclosures that were available from the Office of Government Ethics. Those consist of the top appointees who require Senate confirmation. To get records for people working in lower-level positions, we made requests to individual federal agencies. Some didn\u2019t respond or responded partially; records we requested for about 1,200 people weren\u2019t provided.<\/p>\n<p>Still, ProPublica\u2019s online tool is the most comprehensive public source of financial disclosures from across the executive branch.<\/p>\n<\/div>\n<aside class=\"wp-block-query is-layout-flow wp-block-query-is-layout-flow\">\n<h2 class=\"wp-block-heading screen-reader-text\">Corrections<\/h2>\n<\/aside>\n<aside class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-propublica-notes--bottom wp-block-propublica-notes\">\n<div class=\"wp-block-propublica-note--story-update wp-block-propublica-note\">\n<p><strong>Clarification, March 6, 2026:<\/strong> This story has been clarified to add that Jonathan Morrison\u2019s position with the Autonomous Vehicle Industry Association was unpaid.<\/p>\n<\/div>\n<div class=\"wp-block-propublica-note--contributor-line wp-block-propublica-note\">\n<p><a href=\"https:\/\/www.propublica.org\/people\/doris-burke\">Doris Burke<\/a> contributed research.<\/p>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<footer class=\"wp-block-group entry-footer is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-template-part\">\n<div class=\"wp-block-query is-layout-flow wp-block-query-is-layout-flow\">\n<h2 class=\"wp-block-heading screen-reader-text\">Contributors<\/h2>\n<ul class=\"rich-byline-group wp-block-post-template is-layout-flow wp-block-post-template-is-layout-flow\">\n<li class=\"wp-block-post post-388 profile type-profile status-publish has-post-thumbnail hentry\">\n<div class=\"wp-block-group rich-byline-group__inner is-content-justification-left is-nowrap is-layout-flex wp-container-core-group-is-layout-ed87f293 wp-block-group-is-layout-flex\">\n<figure style=\"aspect-ratio:1;width:70px;height:70px;\" class=\"is-style-rounded is-style-rounded--1 wp-block-post-featured-image\"><a aria-hidden=\"true\" tabindex=\"-1\" href=\"https:\/\/www.propublica.org\/people\/corey-johnson\" target=\"_self\"  style=\"height:70px\"><img loading=\"lazy\" width=\"70\" height=\"70\" src=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?w=70&amp;h=70&amp;crop=1\" class=\"attachment-propublica-rich-byline-thumbnail size-propublica-rich-byline-thumbnail wp-post-image\" alt=\"\" style=\"width:100%;height:100%;object-fit:cover;\" decoding=\"async\" srcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg 2912w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=150,150 150w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=300,300 300w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=768,770 768w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=1022,1024 1022w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=1533,1536 1533w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=2044,2048 2044w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=863,865 863w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=70,70 70w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=422,423 422w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=552,553 552w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=558,559 558w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=527,528 527w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=752,754 752w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=1149,1151 1149w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=357,357 357w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=714,714 714w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=1597,1600 1597w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=400,401 400w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=800,802 800w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=1200,1202 1200w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=1600,1603 1600w, https:\/\/www.propublica.org\/wp-content\/uploads\/2022\/05\/Corey-Johnson-1x1.jpg?resize=2000,2004 2000w\" sizes=\"auto, (max-width: 70px) 100vw, 70px\" js-autosizes=\"true\" \/><\/a><\/figure>\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-15957e15 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-3f9e86ef wp-block-group-is-layout-flex\">\n<h3 class=\"wp-block-post-title\"><a href=\"https:\/\/www.propublica.org\/people\/corey-johnson\" target=\"_self\" >Corey G. Johnson<\/a><\/h3>\n<div class=\"alignleft wp-block-propublica-profile-social-links\">\n<ul class=\"wp-block-social-links alignleft has-small-icon-size has-icon-color has-icon-background-color is-layout-flex wp-container-core-social-links-is-layout-f862bfa2 wp-block-social-links-is-layout-flex\">\n<li style=\"color:var(--p-dyn-color-warm-black, var(--color-light-none));background-color:var(--p-dyn-color-warm-white, var(--color-neutral-10));\" class=\"wp-social-link wp-social-link-x  wp-block-social-link\"><a href=\"https:\/\/x.com\/CoreyGJohnson\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M13.982 10.622 20.54 3h-1.554l-5.693 6.618L8.745 3H3.5l6.876 10.007L3.5 21h1.554l6.012-6.989L15.868 21h5.245l-7.131-10.378Zm-2.128 2.474-.697-.997-5.543-7.93H8l4.474 6.4.697.996 5.815 8.318h-2.387l-4.745-6.787Z\" \/><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">X<\/span><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p class=\"wp-block-propublica-dek\">\n\tCorey G. Johnson is a Pulitzer Prize-winning reporter at ProPublica.<\/p>\n<p>                <script type=\"application\/json\" class=\"svelte-config\">\n                    {\n            \"componentName\": \"ContactToolsRebrand\",\n            \"props\": {\n                \"emailAddress\": \"corey.johnson@propublica.org\",\n                \"signalNumber\": \"\",\n                \"signalUsername\": \"\",\n                \"phoneNumber\": \"917-512-0287\",\n                \"buttonText\": \"Need to Get in Touch?\",\n                \"buttonProps\": {}\n            },\n            \"contextArray\": []\n        }\n                <\/script><\/p>\n<div style=\"display: contents\">\n                    <!--[--><\/p>\n<div class=\"contact-tools\" data-pp-click=\"\" data-pp-location=\"contact tools\"><!--[--><!--[--><!--$s1--><!--[0--><\/p>\n<div class=\"svelte-1ear6bd\" style=\"display: contents; --button-bg-color: var(--p-dyn-color-black); --button-text-color: var(--p-dyn-color-white); --button-border: none; --button-font-size: var(--p-scale-3);\"><!--[--><!----><button data-button-root=\"true\" type=\"button\" tabindex=\"0\" id=\"bits-s1\" aria-haspopup=\"dialog\" aria-expanded=\"false\" data-state=\"closed\" data-popover-trigger=\"\"><!---->Need to Get in Touch?<!----><!----><\/button><!----><!--]--><\/div>\n<p><!----><!--]--><!----><!--]--> <!--[--><!--[-1--><!--]--><!--]--><!----><!----><!--]--><\/div>\n<p><!--]-->\n                <\/div>\n<\/div>\n<\/div>\n<\/li>\n<li class=\"wp-block-post post-255 profile type-profile status-publish has-post-thumbnail hentry\">\n<div class=\"wp-block-group rich-byline-group__inner is-content-justification-left is-nowrap is-layout-flex wp-container-core-group-is-layout-ed87f293 wp-block-group-is-layout-flex\">\n<figure style=\"aspect-ratio:1;width:70px;height:70px;\" class=\"is-style-rounded is-style-rounded--2 wp-block-post-featured-image\"><a aria-hidden=\"true\" tabindex=\"-1\" href=\"https:\/\/www.propublica.org\/people\/brandon-roberts\" target=\"_self\"  style=\"height:70px\"><img width=\"70\" height=\"70\" src=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?w=70&amp;h=70&amp;crop=1\" class=\"attachment-propublica-rich-byline-thumbnail size-propublica-rich-byline-thumbnail wp-post-image\" alt=\"\" style=\"width:100%;height:100%;object-fit:cover;\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg 4224w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=150,150 150w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=294,300 294w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=768,784 768w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=1003,1024 1003w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=1505,1536 1505w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=2007,2048 2007w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=863,881 863w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=70,70 70w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=422,431 422w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=552,563 552w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=558,569 558w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=527,538 527w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=752,767 752w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=1149,1173 1149w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=357,357 357w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=714,714 714w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=1568,1600 1568w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=400,408 400w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=800,816 800w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=1200,1225 1200w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=1600,1633 1600w, https:\/\/www.propublica.org\/wp-content\/uploads\/2024\/05\/Brandon-Roberts-1x1-1.jpg?resize=2000,2041 2000w\" sizes=\"auto, (max-width: 70px) 100vw, 70px\" js-autosizes=\"true\" \/><\/a><\/figure>\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-15957e15 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-3f9e86ef wp-block-group-is-layout-flex\">\n<h3 class=\"wp-block-post-title\"><a href=\"https:\/\/www.propublica.org\/people\/brandon-roberts\" target=\"_self\" >Brandon Roberts<\/a><\/h3>\n<div class=\"alignleft wp-block-propublica-profile-social-links\">\n<ul class=\"wp-block-social-links alignleft has-small-icon-size has-icon-color has-icon-background-color is-layout-flex wp-container-core-social-links-is-layout-f862bfa2 wp-block-social-links-is-layout-flex\">\n<li style=\"color:var(--p-dyn-color-warm-black, var(--color-light-none));background-color:var(--p-dyn-color-warm-white, var(--color-neutral-10));\" class=\"wp-social-link wp-social-link-mastodon  wp-block-social-link\"><a href=\"https:\/\/journa.host\/@bxroberts\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M23.193 7.879c0-5.206-3.411-6.732-3.411-6.732C18.062.357 15.108.025 12.041 0h-.076c-3.068.025-6.02.357-7.74 1.147 0 0-3.411 1.526-3.411 6.732 0 1.192-.023 2.618.015 4.129.124 5.092.934 10.109 5.641 11.355 2.17.574 4.034.695 5.535.612 2.722-.15 4.25-.972 4.25-.972l-.09-1.975s-1.945.613-4.129.539c-2.165-.074-4.449-.233-4.799-2.891a5.499 5.499 0 0 1-.048-.745s2.125.52 4.817.643c1.646.075 3.19-.097 4.758-.283 3.007-.359 5.625-2.212 5.954-3.905.517-2.665.475-6.507.475-6.507zm-4.024 6.709h-2.497V8.469c0-1.29-.543-1.944-1.628-1.944-1.2 0-1.802.776-1.802 2.312v3.349h-2.483v-3.35c0-1.536-.602-2.312-1.802-2.312-1.085 0-1.628.655-1.628 1.944v6.119H4.832V8.284c0-1.289.328-2.313.987-3.07.68-.758 1.569-1.146 2.674-1.146 1.278 0 2.246.491 2.886 1.474L12 6.585l.622-1.043c.64-.983 1.608-1.474 2.886-1.474 1.104 0 1.994.388 2.674 1.146.658.757.986 1.781.986 3.07v6.304z\"\/><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Mastodon<\/span><\/a><\/li>\n<li style=\"color:var(--p-dyn-color-warm-black, var(--color-light-none));background-color:var(--p-dyn-color-warm-white, var(--color-neutral-10));\" class=\"wp-social-link wp-social-link-bluesky  wp-block-social-link\"><a href=\"https:\/\/bsky.app\/profile\/bxroberts.org\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M6.3,4.2c2.3,1.7,4.8,5.3,5.7,7.2.9-1.9,3.4-5.4,5.7-7.2,1.7-1.3,4.3-2.2,4.3.9s-.4,5.2-.6,5.9c-.7,2.6-3.3,3.2-5.6,2.8,4,.7,5.1,3,2.9,5.3-5,5.2-6.7-2.8-6.7-2.8,0,0-1.7,8-6.7,2.8-2.2-2.3-1.2-4.6,2.9-5.3-2.3.4-4.9-.3-5.6-2.8-.2-.7-.6-5.3-.6-5.9,0-3.1,2.7-2.1,4.3-.9h0Z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Bluesky<\/span><\/a><\/li>\n<li style=\"color:var(--p-dyn-color-warm-black, var(--color-light-none));background-color:var(--p-dyn-color-warm-white, var(--color-neutral-10));\" class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/in\/brandon-roberts-3b35196b\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p class=\"wp-block-propublica-dek\">\n\tI\u2019m a journalist using data and code to hold power to account.<\/p>\n<p>                <script type=\"application\/json\" class=\"svelte-config\">\n                    {\n            \"componentName\": \"ContactToolsRebrand\",\n            \"props\": {\n                \"emailAddress\": \"brandon.roberts@propublica.org\",\n                \"signalNumber\": \"\",\n                \"signalUsername\": \"brandonrobertz.01\",\n                \"phoneNumber\": \"\",\n                \"buttonText\": \"Need to Get in Touch?\",\n                \"buttonProps\": {}\n            },\n            \"contextArray\": []\n        }\n                <\/script><\/p>\n<div style=\"display: contents\">\n                    <!--[--><\/p>\n<div class=\"contact-tools\" data-pp-click=\"\" data-pp-location=\"contact tools\"><!--[--><!--[--><!--$s1--><!--[0--><\/p>\n<div class=\"svelte-1ear6bd\" style=\"display: contents; --button-bg-color: var(--p-dyn-color-black); --button-text-color: var(--p-dyn-color-white); --button-border: none; --button-font-size: var(--p-scale-3);\"><!--[--><!----><button data-button-root=\"true\" type=\"button\" tabindex=\"0\" id=\"bits-s1\" aria-haspopup=\"dialog\" aria-expanded=\"false\" data-state=\"closed\" data-popover-trigger=\"\"><!---->Need to Get in Touch?<!----><!----><\/button><!----><!--]--><\/div>\n<p><!----><!--]--><!----><!--]--> <!--[--><!--[-1--><!--]--><!--]--><!----><!----><!--]--><\/div>\n<p><!--]-->\n                <\/div>\n<div class=\"wp-block-group rich-byline__contact-prompt-tail is-layout-flow wp-block-group-is-layout-flow\"><\/div>\n<p class=\"rich-byline__contact-prompt\">If you have a tip about a dataset, a use of technology or a complicated government process, reach out.<\/p>\n<\/div>\n<\/div>\n<\/li>\n<li class=\"wp-block-post post-46 profile type-profile status-publish has-post-thumbnail hentry\">\n<div class=\"wp-block-group rich-byline-group__inner is-content-justification-left is-nowrap is-layout-flex wp-container-core-group-is-layout-ed87f293 wp-block-group-is-layout-flex\">\n<figure style=\"aspect-ratio:1;width:70px;height:70px;\" class=\"is-style-rounded is-style-rounded--3 wp-block-post-featured-image\"><a aria-hidden=\"true\" tabindex=\"-1\" href=\"https:\/\/www.propublica.org\/people\/al-shaw\" target=\"_self\"  style=\"height:70px\"><img width=\"70\" height=\"70\" src=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?w=70&amp;h=70&amp;crop=1\" class=\"attachment-propublica-rich-byline-thumbnail size-propublica-rich-byline-thumbnail wp-post-image\" alt=\"\" style=\"width:100%;height:100%;object-fit:cover;\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg 2000w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=150,150 150w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=300,300 300w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=768,768 768w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=1024,1024 1024w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=1536,1536 1536w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=863,863 863w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=70,70 70w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=422,422 422w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=552,552 552w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=558,558 558w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=527,527 527w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=752,752 752w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=1149,1149 1149w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=357,357 357w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=714,714 714w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=1600,1600 1600w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=400,400 400w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=800,800 800w, https:\/\/www.propublica.org\/wp-content\/uploads\/2017\/01\/20171214_portraits_00548-al-shaw-sized.jpg?resize=1200,1200 1200w\" sizes=\"auto, (max-width: 70px) 100vw, 70px\" js-autosizes=\"true\" \/><\/a><\/figure>\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-15957e15 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-3f9e86ef wp-block-group-is-layout-flex\">\n<h3 class=\"wp-block-post-title\"><a href=\"https:\/\/www.propublica.org\/people\/al-shaw\" target=\"_self\" >Al Shaw<\/a><\/h3>\n<div class=\"alignleft wp-block-propublica-profile-social-links\">\n<ul class=\"wp-block-social-links alignleft has-small-icon-size has-icon-color has-icon-background-color is-layout-flex wp-container-core-social-links-is-layout-f862bfa2 wp-block-social-links-is-layout-flex\">\n<li style=\"color:var(--p-dyn-color-warm-black, var(--color-light-none));background-color:var(--p-dyn-color-warm-white, var(--color-neutral-10));\" class=\"wp-social-link wp-social-link-x  wp-block-social-link\"><a href=\"https:\/\/x.com\/a_l\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M13.982 10.622 20.54 3h-1.554l-5.693 6.618L8.745 3H3.5l6.876 10.007L3.5 21h1.554l6.012-6.989L15.868 21h5.245l-7.131-10.378Zm-2.128 2.474-.697-.997-5.543-7.93H8l4.474 6.4.697.996 5.815 8.318h-2.387l-4.745-6.787Z\" \/><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">X<\/span><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p class=\"wp-block-propublica-dek\">\n\tAl Shaw is a Senior News Application Developer at ProPublica.<\/p>\n<p>                <script type=\"application\/json\" class=\"svelte-config\">\n                    {\n            \"componentName\": \"ContactToolsRebrand\",\n            \"props\": {\n                \"emailAddress\": \"Al.Shaw@propublica.org\",\n                \"signalNumber\": \"\",\n                \"signalUsername\": \"\",\n                \"phoneNumber\": \"\",\n                \"buttonText\": \"Need to Get in Touch?\",\n                \"buttonProps\": {}\n            },\n            \"contextArray\": []\n        }\n                <\/script><\/p>\n<div style=\"display: contents\">\n                    <!--[--><\/p>\n<div class=\"contact-tools\" data-pp-click=\"\" data-pp-location=\"contact tools\"><!--[--><!--[--><!--$s1--><!--[0--><\/p>\n<div class=\"svelte-1ear6bd\" style=\"display: contents; --button-bg-color: var(--p-dyn-color-black); --button-text-color: var(--p-dyn-color-white); --button-border: none; --button-font-size: var(--p-scale-3);\"><!--[--><!----><button data-button-root=\"true\" type=\"button\" tabindex=\"0\" id=\"bits-s1\" aria-haspopup=\"dialog\" aria-expanded=\"false\" data-state=\"closed\" data-popover-trigger=\"\"><!---->Need to Get in Touch?<!----><!----><\/button><!----><!--]--><\/div>\n<p><!----><!--]--><!----><!--]--> <!--[--><!--[-1--><!--]--><!--]--><!----><!----><!--]--><\/div>\n<p><!--]-->\n                <\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group is-content-justification-right is-nowrap is-layout-flex wp-container-core-group-is-layout-95163ec0 wp-block-group-is-layout-flex\" style=\"border-top-color:var(--p-dyn-color-gray-01);border-top-width:1px;padding-top:var(--wp--preset--spacing--p-spacing-3)\">\n<div class=\"taxonomy-pp_topic hide-print wp-block-post-terms wp-container-content-9cfa9a5a\"><span class=\"wp-block-post-terms__prefix\">Filed under \u2014 <\/span><a href=\"https:\/\/www.propublica.org\/topics\/trump-administration\" rel=\"tag\">Trump Administration<\/a><\/div>\n<div class=\"wp-block-propublica-republish-link\" data-component=\"republish-link\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><button type=\"button\" class=\"wp-block-button__link wp-element-button wp-block-propublica-republish-link__open-button\">Republish This Story<\/button><\/div>\n<\/p><\/div>\n<div\n\t\tclass=\"wp-block-propublica-republish-link__modal wp-block-propublica-republish-link__modal--hidden\"\n\t\trole=\"dialog\"\n\t\taria-modal=\"true\"\n\t\taria-hidden=\"true\"\n\t\taria-labelledby=\"propublica-republish-link-label4\"\n\t\taria-description=\"propublica-republish-link-description5\"\n\t><\/p>\n<div class=\"wp-block-propublica-republish-link__modal__header\">\n\t<button type=\"button\" class=\"wp-block-propublica-republish-link__close-button\" aria-label=\"Close\"><br \/>\n\t\t<svg aria-hidden=\"true\" focusable=\"false\" width=\"24\" height=\"24\"><use href=\"#am-symbol-close\"><\/use><\/svg>\t<\/button>\n<\/div>\n<div class=\"wp-block-propublica-republish-link__modal__content\">\n<div class=\"wp-block-propublica-republish-link__modal__instructions\">\n<h2 class=\"wp-block-propublica-republish-link__modal-hed\" id=\"propublica-republish-link-label4\">Republish This Story for Free<\/h2>\n<p class=\"wp-block-propublica-republish-link__modal-license\" id=\"propublica-republish-link-description5\"><a rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-nd\/3.0\/\">Creative Commons License (CC BY-NC-ND 3.0)<\/a><\/p>\n<hr\/>\n<p>\n\t\tThank you for your interest in republishing this story. You are free to republish it so long as you do the following:\t<\/p>\n<ul>\n<li>\n\t\t\tYou have to credit <em>ProPublica and any co-reporting partners<\/em>. In the byline, we prefer &quot;Author Name, Publication(s).&quot; At the top of the text of your story, include a line that reads: &quot;This story was originally published by ProPublica.&quot; You must link the word &quot;ProPublica&quot; to the original URL of the story.\t\t<\/li>\n<li>\n\t\t\tIf you&#039;re republishing online, you must link to the URL of this story on propublica.org, include all of the links from our story, including our newsletter sign up language and link, and use our <a href=\"\/pixelping\">PixelPing tag<\/a>.\t\t<\/li>\n<li>\n\t\t\tIf you use canonical metadata, please use the ProPublica URL. For more information about canonical metadata, <a href=\"https:\/\/support.google.com\/webmasters\/answer\/139066?hl=en\">refer to this Google SEO link<\/a>.\t\t<\/li>\n<li>\n\t\t\tYou can&#039;t edit our material, except to reflect relative changes in time, location and editorial style. (For example, &quot;yesterday&quot; can be changed to &quot;last week,&quot; and &quot;Portland, Ore.&quot; to &quot;Portland&quot; or &quot;here.&quot;)\t\t<\/li>\n<li>\n\t\t\tYou cannot republish our photographs or illustrations without specific permission. Please contact <a href=\"\/cdn-cgi\/l\/email-protection#8ee3ebeae7effce7e9e6fafdcefefce1fefbece2e7edefa0e1fce9\"><span class=\"__cf_email__\" data-cfemail=\"422f27262b23302b252a36310232302d3237202e2b21236c2d3025\">[email&#160;protected]<\/span><\/a>.\t\t<\/li>\n<li>\n\t\t\tIt&#039;s okay to put our stories on pages with ads, but not ads specifically sold against our stories. You can&#039;t state or imply that donations to your organization support ProPublica&#039;s work.\t\t<\/li>\n<li>\n\t\t\tYou can&#039;t sell our material separately or syndicate it. This includes publishing or syndicating our work on platforms or apps such as Apple News, Google News, etc.\t\t<\/li>\n<li>\n\t\t\tYou can&#039;t republish our material wholesale, or automatically; you need to select stories to be republished individually. (To inquire about syndication or licensing opportunities, contact <a href=\"\/cdn-cgi\/l\/email-protection#fb9792989e958892959cbb8b89948b8e999792989ad594899c\"><span class=\"__cf_email__\" data-cfemail=\"8ae6e3e9efe4f9e3e4edcafaf8e5faffe8e6e3e9eba4e5f8ed\">[email&#160;protected]<\/span><\/a>.)\t\t<\/li>\n<li>\n\t\t\tYou can&#039;t use our work to populate a website designed to improve rankings on search engines or solely to gain revenue from network-based advertisements.\t\t<\/li>\n<li>\n\t\t\tWe do not generally permit translation of our stories into another language.\n\t\t<\/li>\n<li>\n\t\t\tAny website our stories appear on must include a prominent and effective way to contact you.\t\t<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-propublica-republish-link__modal__copy\">\n\t<label><br \/>\n\t\t<span class=\"screen-reader-text\">HTML<\/span><\/p>\n<p>\t\t<textarea readonly tabindex=\"-1\"><\/p>\n<h1>Documents Reveal a Web of Financial Ties Between Trump Officials and the Industries They Help Regulate<\/h1>\n<p>Thousands of companies are jockeying for billions of dollars in Defense Department contracts to build a shield designed to intercept and destroy missiles launched against the United States.<\/p>\n<p>But amid the intense competition, a handful of firms have an important inside connection.<\/p>\n<p>At least four of the companies awarded contracts so far are owned by Cerberus Capital Management, a private equity firm founded by billionaire Steve Feinberg, who until last year ran the company and is now the deputy secretary of defense \u2014 the second-highest-ranking official in the Pentagon.<\/p>\n<p>Feinberg oversees the office in charge of the Golden Dome for America project, which is modeled on Israel\u2019s Iron Dome missile defense system.<\/p>\n<p>Feinberg filed paperwork saying he divested from Cerberus and its related businesses. But his government ethics records contain an unusual clause: He is allowed to continue contracting with the company for tax compliance and accounting services as well as health care coverage, a financial relationship that documents show could continue indefinitely.<\/p>\n<p>Feinberg\u2019s financial statements and ethics agreement are part of <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/\">a trove of nearly 3,200 disclosure records<\/a> that ProPublica is making public today. The disclosures, which can be viewed in a searchable online tool, detail the finances of more than 1,500 federal officials appointed by President Donald Trump. Records for Trump and Vice President JD Vance are also included.<\/p>\n<p>The documents reveal a web of financial ties between senior government officials and the industries they help regulate \u2014 relationships that have drawn scrutiny as Trump has dismantled ethics safeguards designed to prevent conflicts of interest.<\/p>\n<p>On his first day back in office, Trump rescinded <a href=\"https:\/\/www.federalregister.gov\/documents\/2021\/01\/25\/2021-01762\/ethics-commitments-by-executive-branch-personnel\">an executive order<\/a> signed by President Joe Biden that required his appointees to comply with an ethics pledge. The pledge barred them from working on issues related to their former lobbying topics or clients for two years. Weeks later, Trump fired 17 inspectors general charged with investigating fraud, corruption and conflicts of interest across the federal government. Around the same time, he removed the head of the Office of Government Ethics, the agency that oversees ethics compliance throughout the executive branch. The office is currently without a head or a chief of staff.<\/p>\n<p>Against that backdrop, ProPublica has, over the past year, used the disclosure records to investigate how personal financial interests have intersected with government decision-making inside the Trump administration.<\/p>\n<p>The documents helped show that senior executive branch officials, <a href=\"https:\/\/www.propublica.org\/article\/pam-bondi-trump-media-stock-tariffs\">including Attorney General Pam Bondi<\/a>, made well-timed securities trades, at times <a href=\"https:\/\/www.propublica.org\/article\/us-officials-stock-sales-trump-tariffs\">selling stocks just before markets plunged<\/a> because Trump announced new tariffs. (The officials either did not respond to requests for comment or said they had no insider information before they made their trades.)<\/p>\n<p>Other disclosures revealed that two high-ranking scientists at the Environmental Protection Agency who recently helped downgrade the agency\u2019s assessment of <a href=\"https:\/\/www.propublica.org\/article\/epa-formaldehyde-risk-assessment\">the health risks of formaldehyde<\/a> had previously held senior positions at the chemical industry\u2019s leading trade group. (The EPA said the scientists had obtained ethics advice approving their work on the project.)<\/p>\n<p>In December, ProPublica reported that Trump has appointed more than 200 people who collectively owned \u2014 either by themselves or with their spouses \u2014 between $175 million and $340 million in cryptocurrency investments at the time they filed their disclosures. Some of those appointees now hold <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-crypto-doj-trump\">positions overseeing or influencing regulation of the crypto industry<\/a>. Among them are Todd Blanche, Trump&#8217;s former criminal defense attorney and now the second-highest-ranking official in the Justice Department.<\/p>\n<p><a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/blanche-todd\/\">Blanche\u2019s disclosure records<\/a> show that he <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-crypto-doj-trump\">owned at least $159,000<\/a> in crypto-related assets last year when <a href=\"https:\/\/www.justice.gov\/dag\/media\/1395781\/dl?inline\">he shut down<\/a> investigations into crypto companies, dealers and exchanges.<\/p>\n<p>After ProPublica reported on Blanche\u2019s actions, six Democratic senators <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-crypto-conflict-senator-letter\">accused him of a \u201cglaring\u201d conflict of interest<\/a>, and a watchdog group <a href=\"https:\/\/www.propublica.org\/article\/todd-blanche-complaint-conflict-of-interest\">asked the Justice Department\u2019s inspector general to investigate<\/a>. A Justice Department spokesperson has said Blanche upholds the highest ethical standards and that his crypto orders were \u201cappropriately flagged, addressed and cleared in advance,\u201d but she did not respond to questions asking who had cleared his actions.<\/p>\n<p>Conflicts of interest have long plagued both Democratic and Republican administrations. But ethics experts say Trump\u2019s second term marks a sharp break from modern norms.<\/p>\n<p>Trump has openly defended his family\u2019s financial enrichment while he is in office, including <a href=\"https:\/\/www.nytimes.com\/2025\/04\/29\/us\/politics\/trump-crypto-world-liberty-financial.html\">through cryptocurrency deals<\/a> that critics say allow investors, including foreign entities, to curry favor by boosting the president\u2019s personal wealth.<\/p>\n<p>\u201cI found out nobody cared, and I\u2019m allowed to,\u201d <a href=\"https:\/\/www.nytimes.com\/2026\/01\/08\/us\/politics\/trump-family-foreign-business-deals.html\">Trump told The New York Times<\/a>, referring to his family\u2019s business dealings.<\/p>\n<p>Trump also remains unapologetic about accepting a Boeing 747 worth about $400 million from the Qatari government and transferring nearly $1 billion from a nuclear weapons program to retrofit it. Virginia Canter, chief counsel for ethics and corruption at Democracy Defenders Fund, a nonprofit governmental watchdog group, cited Trump\u2019s new plane as a brazen example of self-dealing.<\/p>\n<p>\u201cEthics is in the toilet,\u201d said Canter, who served as an ethics lawyer at the White House, Treasury Department and Securities and Exchange Commission during the presidencies of George H.W. Bush, Bill Clinton, George W. Bush and Barack Obama.<\/p>\n<p>White House spokesperson Anna Kelly defended the president and his appointees. \u201cPresident Trump is leading the most transparent administration in history,\u201d Kelly said. \u201cHe has also nominated highly-qualified individuals across the Executive Branch who have a wide range of public and private sector backgrounds.\u201d<\/p>\n<hr \/>\n<p>The idea of a space-based missile defense shield has persisted ever since President Ronald Reagan proposed his own version nicknamed \u201cStar Wars.\u201d<\/p>\n<p>Trump rekindled the idea on the campaign trail. His Golden Dome for America imagines a battery of weapons, deployed from land, sea and space, able to destroy missiles launched at the U.S.<\/p>\n<p>In December, the Defense Department started selecting companies for the project, for which it has allocated as much as $151 billion. So far, the agency has granted awards to more than 2,000 firms. Cerberus owns or is a majority investor in at least four of them: North Wind, Stratolaunch, Red River Technology and NetCentrics Corp.<\/p>\n<p>Citing national security concerns, defense officials have not publicized the amounts of each contract or the products or services the companies are providing. (The Defense Department is required by law to publicly announce only contracts worth more than $9 million.)<\/p>\n<p>Feinberg, who co-founded Cerberus in 1992, <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/feinberg-stephen-andrew\/\">listed assets worth at least $2 billion<\/a> when he was nominated by Trump last year. In his ethics agreement, Feinberg said he would divest his stake in the firm, potentially giving assets to irrevocable trusts benefiting his adult children \u2014 a maneuver that is legal under federal conflict-of-interest law but one that ethics experts say undermines its intent.<\/p>\n<p>Feinberg also told ethics officials that he needed to contract with Cerberus for accounting, tax and health care services in the short term but would find other providers by April 2026. However, at Feinberg\u2019s request, Defense Department officials approved an extension earlier this year, allowing the financial relationship to continue without an end date. In an amendment to his ethics agreement, he said he would \u201cpay customary and reasonable fees\u201d for Cerberus\u2019 services but did not say how much those would be.<\/p>\n<p>It\u2019s unclear what role Feinberg has played \u2014 or will play \u2014 in deciding which firms receive Golden Dome contracts. In response to questions from ProPublica, the Defense Department said Feinberg does not \u201chave direct responsibility for any Golden Dome acquisitions\u201d but did not elaborate. The department would not comment on whether Feinberg or anyone in his office had met with any contractor representatives.<\/p>\n<p>What is not disputed is Feinberg\u2019s oversight of the Golden Dome initiative. Space Force Gen. Michael Guetlein, who heads the project, <a href=\"https:\/\/www.war.gov\/News\/Releases\/Release\/Article\/4251596\/general-guetlein-to-lead-the-office-of-golden-dome-for-america\/\">reports directly to him<\/a>.<\/p>\n<p>Richard Painter, a former White House ethics lawyer under President George W. Bush, said Feinberg\u2019s ongoing relationship with Cerberus creates at least a perception of a conflict of interest that could undermine confidence in the fairness of the contracting process.<\/p>\n<p>\u201cThis is what President Eisenhower worried about in the 1960s\u201d when he railed against the military-industrial complex, Painter said of Eisenhower\u2019s farewell address warning of the risks of a too-close relationship between the military and private defense businesses.<\/p>\n<p>In response to questions from ProPublica, a Cerberus spokesperson said in an email: \u201cMr. Feinberg divested his stake in Cerberus and any funds that it manages, and is not involved with the operations of Cerberus or any of its portfolio companies in any way.\u201d The spokesperson added that the administrative services provided to Feinberg \u201care unrelated to any investment activities or operations of Cerberus or its funds and were pre-approved by the Department of War\u2019s Ethics Office and the Office of Government Ethics.\u201d<\/p>\n<p>Another top official in the department is <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/berkowitz-marc\/\">Marc Berkowitz<\/a>, who was confirmed in December as assistant secretary of defense for space policy. During his confirmation, Berkowitz described the Golden Dome project <a href=\"https:\/\/www.armed-services.senate.gov\/imo\/media\/doc\/berkowitz_apq_responses1.pdf\">as one of his top priorities<\/a>.<\/p>\n<p>Berkowitz previously worked as a space industry consultant and vice president for strategic planning at Lockheed Martin. The giant defense and aerospace company was among the firms awarded Golden Dome contracts days before Berkowitz\u2019s confirmation.<\/p>\n<p>Lockheed is likely to compete for a large role in the project. The company has set up <a href=\"https:\/\/www.lockheedmartin.com\/en-us\/capabilities\/missile-defense\/golden-dome-missile-defense.html\">a webpage dedicated to the Golden Dome<\/a>, and <a href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/trumps-golden-dome-missile-shield-marks-one-year-with-little-progress-2026-01-27\/\">Reuters reported that Lockheed<\/a> is one of several firms that received contracts to build competing prototypes of the missile defense system.<\/p>\n<p>In his financial disclosure documents, Berkowitz reported receiving two monthly pensions from Lockheed and owning between $1 million and $5 million worth of stock in the firm.<\/p>\n<p>Berkowitz agreed to divest by March 18, documents show. During his confirmation hearing, he <a href=\"https:\/\/meritalk.com\/articles\/trump-nominee-emphasizes-golden-dome-as-cornerstone-of-missile-defense-policy\/\">downplayed any potential role he would have in Golden Dome contract decisions<\/a>, noting that his position was more about policy.<\/p>\n<p>A senior Defense Department official told ProPublica that Berkowitz is recusing himself from matters involving Lockheed until his remaining shares are sold.<\/p>\n<p>Pentagon spokesperson Sean Parnell said the department\u2019s ethics framework is \u201crigorous\u201d and that Feinberg and Berkowitz are in full compliance with the law.<\/p>\n<p>\u201cAny claims to the contrary are fake news,\u201d Parnell said.<\/p>\n<hr \/>\n<p>Other agencies have similar industry links. Across the administration, former lobbyists and corporate executives now occupy influential positions, <a href=\"https:\/\/www.nytimes.com\/2025\/01\/08\/us\/politics\/pam-bondi-trump-attorney-general-lobbyist.html\">including Bondi<\/a>, <a href=\"https:\/\/www.nytimes.com\/2024\/11\/21\/us\/politics\/susie-wiles-trump-lobbying.html\">White House Chief of Staff Susie Wiles<\/a> and Transportation Secretary <a href=\"https:\/\/www.politico.com\/news\/2025\/09\/21\/lobbying-connections-duffy-wiles-00574382\">Sean Duffy<\/a>.<\/p>\n<p>Their ties to former clients have made national headlines, but ProPublica\u2019s searchable online tool provides <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/\">the public an important glimpse<\/a> into the financial relationships or industry links of a powerful and often hidden cadre of presidential appointees within the federal bureaucracy.<\/p>\n<p>Reports show that after being nominated to head the National Highway Traffic Safety Administration, <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/morrison-jonathan\/\">Jonathan Morrison<\/a> revealed he served for two years as a director of the Autonomous Vehicle Industry Association, the trade group that represents companies that make and use self-driving cars. He left the position in February 2024.<\/p>\n<p>At <a href=\"https:\/\/www.ttnews.com\/articles\/trump-nhtsa-pick-autonomous\">his confirmation hearing last year<\/a>, Morrison said he wanted the NHTSA to set national standards and play a leading role in the industry\u2019s development of self-driving vehicles.<\/p>\n<p>Sean Rushton, an NHTSA spokesperson, said Morrison had an unpaid position on the autonomous vehicle group\u2019s board of directors and doesn\u2019t have to recuse himself from matters involving the organization because he left long before the presidential election and his nomination as highway traffic safety administrator.<\/p>\n<p>Most political appointees and senior officials in the executive branch are required by law to file public financial disclosure reports. These documents detail their financial assets, the positions they hold outside government, their spouse\u2019s holdings, their liabilities and their recent financial transactions (such as buying or selling stock) during a defined reporting period. For the most part, the law does not require appointees to provide exact financial values but instead a range.<\/p>\n<p>At least a dozen appointees withheld the identities of previous clients, ProPublica found.<\/p>\n<p>Appointees are allowed to keep the name of former clients confidential under exceptional circumstances, such as when the identity is protected by a court order or revealing the name would violate the rules of a professional licensing organization. In <a href=\"https:\/\/nysba.org\/wp-content\/uploads\/2025\/03\/NYSBA-NY-Rules-of-Professional-Conduct-2025-web-1.pdf?srsltid=AfmBOooEqEEA9QXyRL8x7stPRxJwpOqJemeFZp-46jpEoxFgm6j65ozz\">New York<\/a> and Washington, D.C., for example, the organizations that license attorneys prohibit them from <a href=\"https:\/\/www.dcbar.org\/for-lawyers\/legal-ethics\/rules-of-professional-conduct\/client-lawyer-relationship\/confidentiality-of-information\">revealing confidential information<\/a> about a client in most situations, including if doing so would be embarrassing or is likely to be detrimental to the client. While the relationship between a client and an attorney is often made public, in some cases \u2014 if, for instance, an appointee had conducted legal defense work for a client during a nonpublic criminal investigation \u2014 the client&#8217;s identity could be withheld from the financial disclosure.<\/p>\n<p><a href=\"https:\/\/www.oge.gov\/web\/278eGuide.nsf\/Definitions#Confidential_Clients\">Guidelines issued by the Office of Government Ethics<\/a> say that such situations are unusual and \u201cit is extremely rare for a filer to rely on this exception for more than a few clients.\u201d<\/p>\n<p>But at the Office of the U.S. Trade Representative, which is responsible for tariff policy, the head of the agency, Jamieson Greer, <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-disclosures\/appointees\/greer-jamieson\/#4_1435_1\">withheld the names of more than 50 former clients from his time at King &amp; Spalding<\/a>, one of the nation\u2019s most influential law firms. In his disclosure, Greer cited the New York and D.C. bar rules for not identifying the clients.<\/p>\n<p>Greer\u2019s senior adviser in the federal agency, Kwan Kim, previously worked as an international trade lawyer for Covington &amp; Burling. From October 2020 to February 2025, Kim helped businesses win federal exemptions from steel and aluminum tariffs and defended companies accused by investigators of import-related crimes, according to a Covington biography that has since been taken down. <a href=\"https:\/\/projects.propublica.org\/trump-team-financial-appointees\/appointees\/kim-kwan-w\/#4_1968_1\">Kim kept the names of 52 companies he represented secret<\/a>, citing the D.C. Bar rules, the disclosure documents show.<\/p>\n<p>The U.S. Trade Representative office did not respond to ProPublica\u2019s request for comment.<\/p>\n<p>When the names of former clients are withheld, it becomes virtually impossible for the public to know if an official\u2019s actions in government benefit a former client. Kedric Payne, ethics director at the nonpartisan watchdog group Campaign Legal Center, said the lack of disclosure is concerning.<\/p>\n<p>\u201cWhen you see these types of close connections between the regulated community and the new regulators, it raises a yellow flag,\u201d Payne said. \u201cBecause these officials are walking an ethical tightrope where any meeting or communication with their former employer and client could become a serious conflict of interest.\u201d<\/p>\n<p>ProPublica\u2019s journalists have been gathering these records for more than a year. We obtained all of the disclosures that were available from the Office of Government Ethics. Those consist of the top appointees who require Senate confirmation. To get records for people working in lower-level positions, we made requests to individual federal agencies. Some didn\u2019t respond or responded partially; records we requested for about 1,200 people weren\u2019t provided.<\/p>\n<p>Still, ProPublica\u2019s online tool is the most comprehensive public source of financial disclosures from across the executive branch.<\/p>\n<link rel=\"canonical\" href=\"https:\/\/www.propublica.org\/article\/trump-administration-financial-disclosures-steve-feinberg\" \/>\n<meta name=\"syndication-source\" content=\"https:\/\/www.propublica.org\/article\/trump-administration-financial-disclosures-steve-feinberg\" \/><br \/>\n<script type=\"text\/javascript\" src=\"https:\/\/pixel.propublica.org\/pixel.js\" async><\/script><br \/>\n<\/textarea>\t<\/label><\/p>\n<p>\t<button type=\"button\" class=\"wp-block-propublica-republish-link__copy-button\">Copy HTML<\/button>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/footer>\n<\/article>\n<p><\/main><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ben Hickey for ProPublica Ben Hickey for ProPublica Documents Reveal a Web of Financial Ties Between Trump Officials and the Industries They Help Regulate ProPublica is releasing a trove of disclosure records that detail the finances of more than 1,500 Trump appointees, including former lobbyists, industry executives and at least a dozen officials who declined [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/posts\/29","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/comments?post=29"}],"version-history":[{"count":1,"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/posts\/29\/revisions"}],"predecessor-version":[{"id":73,"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/posts\/29\/revisions\/73"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/media\/72"}],"wp:attachment":[{"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/media?parent=29"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/categories?post=29"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maxinefilmes.com\/odelator\/wp-json\/wp\/v2\/tags?post=29"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}