As Donald Trump prepares to leave office, the Republican’s principal concern appears to be avoiding criminal prosecution. But a close second appears to be his financial considerations: Trump has some massive bills coming due, and he’s going to need quite a bit of cash.
But after Trump instigated an insurrectionist attack on his own country’s Capitol, his finances have reached a more precarious point. NBC News reported overnight:
Two banks linked to President Donald Trump halted business with him in the aftermath of Wednesday’s U.S. Capitol riots, officials said Monday. A spokeswoman for Signature Bank, where Trump had $5.3 million, said the business was shuttering two of his personal accounts and calling on him to resign.
The same article noted that Deutsche Bank, a longtime Trump lender, is also refraining from further business with the Republican and his company in the wake of the insurrectionist riot.
They’re not alone. In the wake of the deadly riot, Shopify closed its online stores affiliated with Trump; New York City is eying an end to all contracts with Trump’s company; and the PGA of America pulled the 2022 PGA Championship tournament from Trump’s Bedminster golf club.
NBC News’ report added that PGA President Jim Richerson said in statements that the board of directors voted to “exercise the right to terminate the agreement” because holding the tournament there would be “detrimental to the PGA of America brand” and damage its long-term growth. The New York Times reported that Trump was “gutted” by the PGA decision, after working “personally for years to push the tournament executives to hold events at his courses.” A Times reporter added that the Republican is far angrier about the PGA’s move than impeachment. The list of private entities that no longer want anything to do with Trump may yet grow, limiting his financial options just as his presidency ends and creditors start calling.
Steve Benen is a producer for "The Rachel Maddow Show," the editor of MaddowBlog and an MS NOW political contributor. He's also the bestselling author of "Ministry of Truth: Democracy, Reality, and the Republicans' War on the Recent Past."
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