Eight years ago, the lobby of the Trump International Hotel in Washington became the symbol of influence peddling. Tourists giddily mingled with lobbyists and campaign donors. The cheapest cocktail went for $US24 ($A37). How quaint.

This term, Donald Trump junior announced that he is opening a private, members-only club in Georgetown called Executive Branch. Members of the Trump administration, CEOs, and tech executives are among those who have signed up. The membership fee is currently $US500,000.

That is the context for the controversy over Qatar’s gift of a roughly $US400 million airplane for use as the new Air Force One, a 747 that would be transferred to the Trump Presidential Library when he leaves office, potentially making it available for his personal use (although he denies he would use it). It’s outlandish on its own terms. And it is just the most visible part of a new ethos of self-dealing, with lines between public purpose and private enrichment not just blurred but erased.

Out of today’s scandals come tomorrow’s reforms.

Days before his return to office, Trump launched his own cryptocurrency token, $TRUMP, which immediately enriched him by an estimated billions of dollars (although the coin’s worth has since dropped). Since crypto is a purely speculative vehicle, this gave “investors” a chance to send funds straight to Trump, without disclosure or........

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