In other threads, it's been discussed how because this is all executive branch activity, the president is the authority for all security clearances. He doesn't need one - and it appears that neither do his direct appointees.
A rather glaring flaw, if true.
It is sort of true. In a way, the President is elected a security clearance.
However...there are still laws to be enforced, and Bill Clinton had his suspended for a while because he kept leaking stuff, while he was President.