Yesterday the New York Times reported that Deutsche Bank and Signature Bank were both immediately cutting off Donald Trump in the wake of his incitement of the U.S. Capitol terrorist attack. Now Trump has been cut off by a third bank as well.
Professional Bank, which loaned Trump more than eleven million dollars just two and a half years ago, is now also kicking Trump to the curb. Last night Palmer Report predicted there would be a chain reaction of banks cutting him off, and now we’re indeed beginning to see that play out.
This comes at a time when Trump’s financial house of cards is already on the verge of collapse, and now even the banks that had been bailing him out during his presidency are now cutting him off. If even the shadiest of banks are now unwilling to take the reputational risk of bailing him out, he’ll be bankrupt in short order. This is before even getting to whatever asset forfeitures he’ll face by prosecutors.
Bill Palmer is the publisher of the political news outlet Palmer Report