Donald Trump

The Banks Are Coming

SK Ashby
Written by SK Ashby

Many people including most Republican seem to believe that Trump will still be in full command of Republican politics four years from now and will easily clinch the nomination in 2024 if he wants to, but I am not among them.

I do not believe the Trump family will be a thorn in our side forever because I believe they're just a few steps away from financial oblivion.

Investigative reports published over the last several years revealed that Trump is deeply in debt, his properties are struggling, and he has been lying about his property values for decades to dodge taxes on them. And he's not even out of office yet, but the banks are already coming for him.

The New York Times reports that Deutsche Bank and Signature Bank are both dumping him.

Deutsche Bank, which has been Mr. Trump’s primary lender for two decades, has decided not to do business with Mr. Trump or his company in the future, according to a person familiar with the bank’s thinking. Mr. Trump currently owes Deutsche Bank more than $300 million, which is due in the next few years.

The bank has concluded that, short of forgiving the debt, it has no way to extricate itself from the Trump relationship before the loans come due.

Another longtime financial partner of the Trumps, Signature Bank, also is cutting ties. The bank — which helped Mr. Trump finance his Florida golf course and where Ivanka Trump, the president’s daughter, was once a board member — issued a statement calling on Mr. Trump to resign as president “in the best interests of our nation and the American people.”

Deutsche Bank has been Trump's primary lender for two decades because no American banks will do business with him following an ongoing string of bankruptcies.

With Deutsche Bank out of the picture, where will they turn to next for another tranche of debt that he'll never repay? Will anyone touch him? Will any bank that isn't already subject to international sanctions deal with him? Will the Saudis bail him out when they no longer need him? Probably not.

Trump is a notorious egomaniac and he hates feeling like a loser but, in my mind, this is the real reason why he would risk a violent coup to stay in power. This is why his adult children haven't stopped him. They're more worried about being broke than having a functioning democracy.

I want to stop writing about Donald Trump after this month as much as you probably want to stop reading about him, but I can hardly wait to follow every single bad thing that happens to him until he finally dies.