JOHN BERMAN (CO-HOST): Let's talk big picture and then I want to narrow it down to small picture, because you have a very interesting case to talk about. The big picture -- let me read you what Donald Trump said on Twitter yesterday. He said, “Legal documents are being crafted which take me completely out of business operations. The presidency is a far more important task.” Out of business operations does not mean out of ownership. So does he still, if he still has some ownership, have a potential conflict of interest? 

STEVEN SCHOONER: The fascinating thing about his tweet storm is that it doesn't resolve any of the conflicts that he has. As you indicate, business operations aren't ownership as we'll talk about I'm sure in just a moment. One of the concerns is that he benefits from his relationships. But the other thing that's really important to keep in mind is he's talking about turning over his business to his adult children and basically that resolves none of the conflicts that he had to begin with. So this -- first of all, doesn't mean anything. We haven't seen any of the details, and it doesn't resolve any of the problems whatsoever. 

BERMAN: Yes, the details here that will matter. For example, there is this Trump hotel that just opened up in the new -- well the old post office building, new hotel, just down the street from the White House. This is a building owned by the government which the Trump Corporation has a lease on. It has this hotel. But as part of the contract, let me read you some of the language right now. It says, “No elected official of the government of the United States shall be admitted to any share or part of this lease, or to any benefit that may arise therefrom.” Now, I'm no lawyer here, but when you say “any elected official,” the president is an elected official. That seems to be a problem, professor. 

SCHOONER: Well, first of all, it is a problem. And second, I'm ecstatic that you read the language and frankly I wish more people would read the language because in any contract class, normally one of the things that we begin with, and all of my students will joke, that the folks in the front of the room just say, “When in doubt, let's read the contract.” And here, if you read the contract, the language you just read, is what we refer to as pretty clear and unambiguous. So there's not much wiggle room in there. It's pretty clear what the words say. It's pretty clear what the intent of the parties was at the time they entered into the contract, and so [General Services Administration], the manager of the building, didn't make Donald Trump, the tenant, run for president. He took a position, he took an act that materially breached the contract. I think it's time for GSA to end the contract, and they need to do so before the inauguration. But to be clear, even as clear as that contract language, that's just one of many problems with the president-elect holding this lease. But as you indicated, the words of the contract are clear, the president-elect is going to be in breach, and GSA needs to do the right thing and end that contract as soon as possible. 

Previously:

Mainstream Outlets Rush To Give Trump Credit For Vague Tweets About His Business

Too Little, Too Late: Weeks After Election, Media See Trump's Conflicts, Potential Self-Dealings, And Corruption

Even Karl Rove Is Decrying Trump’s Conflicts Of Interest