Palmer Report told you that once Donald Trump was gone from office, we would only continue to write about him when there was movement in his impeachment trial, criminal scandals, criminal investigations, civil trials, or his financial crisis. Sure enough, Trump’s financial nightmare has gotten even worse tonight.
Three banks, including Deutsche Bank, have already cut off Trump in the wake of his January 6th incitement to insurrection, which led to a deadly domestic terrorist attack against the U.S. Capitol with the nation’s top elected leaders inside. Now Trump has lost a fourth bank on top of it.
Bank United now says it’s closed all of Trump’s bank accounts, which the Washington Post believes may have had as much as $25 million dollars in them. Trump has always operated from a position of massive debt, and most of his income goes to servicing those debts. So a relatively small cash crunch could indeed push him into bankruptcy.
Much more of this and we won’t be surprised if Trump’s creditors begin seizing his assets due to non-payment of loans, before prosecutors can even get around to seizing Trump’s assets due to criminal activity.
Bill Palmer is the publisher of the political news outlet Palmer Report