President-elect Trump today has set a very dangerous path for himself and for the country.

President-elect Trump’s press conference today establishes that he will maintain ultimate ownership of his business empire.

This approach is bound to result in serious conflicts of interest and appearances of conflicts for his presidency. Conflicts of interest, furthermore, can easily end up in corrupt practices and scandals.

President-elect Trump is setting the stage to abuse his office for his own personal financial interests in a way that has never been done before.

With President Trump in a position to personally benefit financially from his world-wide business enterprises, the American people will not be able to tell whose interests are represented by the president’s policy decisions: Trump’s financial interests, his benefactors’ interests, or the interests of the American people.

In these circumstances, Trump’s presidency and Trump’s business and financial interests will be inextricably intertwined. No president ever has made this kind of profound mistake—and for good reason.

Investors, banks, companies and foreign governments that deal with Trump business enterprises will see that relationship as a means to curry favor and buy influence with the president of the United States.

Benefits provided by foreign governments or private interests to Trump business ventures and problems that arise with Trump businesses will be benefits and problems that directly involve the president of the United States.

The decision President-elect Trump has made today creates a completely untenable situation. President-elect Trump’s actions reflect placing a priority on his personal business interests at the expense of the integrity of his presidency and the interests of the American people.