Closing Thought–04Feb21

Closing Thought–04Feb21

Appears the impeachment the the Senate trial are not only things that our ex president has to worry about.

Since Trump has departed the building, the White House, his financial benefactor for years has been Deutsche Bank has decided they have had enough of Donald Trump and his antics….they are closing all his accounts….

Deutsche Bank will no longer do business with President Donald Trump, a move that will cut off his business from a major source of loans that once helped fund his golf courses and hotels.

Germany’s biggest bank has decided to refrain from future business with the president and his company, a person familiar with the bank’s thinking told CNN Business. The news, first reported by the New York Times, follows last week’s deadly riot at the US Capitol.
 
A spokesperson for Deutsche Bank (DB) declined to comment to CNN Business, citing a prohibition on discussing potential client relationships.
The move is the latest example of corporate backlash against the president after his supporters vandalized the Capitol in a brazen assault that left five people dead.
 
Signature Bank said it had started closing Trump’s personal accounts and called for the president to resign. The US bank also said it “will not do business in the future with any members of Congress who voted to disregard the Electoral College.”
Trump has a checking account at Signature Bank, according to a 2019 financial disclosure filed with the US Office of Government Ethics. A revocable trust in the president’s name also has a money market account at Signature Bank, according to the filing.
Trump also has ties to other major banks. The president held between $5 million and $25 million in checking-and-savings accounts at Capital One (COF) and between $500,000 and $1 million in accounts at JPMorgan Chase (JPM), according to the disclosure form.
 
Trump also listed up to $250,000 in a money market account at Bank United.
JPMorgan declined to comment. A Capital One spokesperson said the bank does not discuss current or former customer relationships. Bank United did not respond to a request for comment.
 
Is the Deutshe Bank doing this until after the investigation by the NY prosecutors office
Is retribution in the air for the former president?
 
Will they call in all the debt that Trump has on their books?
 
I Read, I Write, You Know
 
“lego ergo scribo”

5 thoughts on “Closing Thought–04Feb21

  1. Will DB follow through with legal action to reclaim the debt? I have a feeling that someone somewhere will sort out his loans behind closed doors.
    Best wishes, Pete.

  2. In my meaning some of “my Germans” 😉 had thought a POTUS with ancestors from Germany will follow their way. For more than a decade, Deutsche Bank seems to have done very good business in the US. Didn’t a hundred thousand Americans lose their homes here in the financial crisis, also because of Deutsche Bank? Michael

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