# Professor Lawrence White comments on the Trump campaign’s statement regarding his taxes

1 Faculty News October 9, 2016 ![PolitiFact logo](/sites/default/files/styles/246w/public/assets/images/con_030740.jpg?itok=AksI8GU5)>

Excerpt from [PolitiFact](http://www.politifact.com/truth-o-meter/statements/2016/oct/09/donald-trump/donald-trump-has-no-fiduciary-responsibility-his-p/) -- "At most, Trump might be able to argue that he has some fiduciary obligations to his employees, suggested [Lawrence White](http://www.stern.nyu.edu/faculty/bio/lawrence-white), a professor at New York University’s Stern School of Business. That would be arguable 'to the extent that any bankruptcy -- which might have arisen if he had not availed himself of these loss carry-forward/carry-back opportunities -- would have converted them into unsecured claimants for any delayed wages or other benefits,' White said."

[Read more](http://www.politifact.com/truth-o-meter/statements/2016/oct/09/donald-trump/donald-trump-has-no-fiduciary-responsibility-his-p/)