Donald Trump’s efforts to overturn the November election and remain president—even if it required inciting an insurrection—have failed. And thanks to the insurrection part, he’s not going to have much of a business to fall back on, either.
Banks, business partners, and vendors are dumping the Trump Organization at high speed. New York City Mayor Bill de Blasio announced Wednesday that the city was terminating its contracts with the Trump Organization under a contract provision allowing the city to end contracts over criminal activity. “Inciting an insurrection—let’s be very clear, let’s say the words again—inciting an insurrection against the United States government clearly constitutes criminal activity,” de Blasio said.
That’s a $17 million a year hit to the Trump Organization, which operated a carousel, two ice skating rinks, and a golf course for the city.
New York City isn’t alone in wanting nothing to do with Trump. His Bedminster golf course lost the 2022 PGA championship—and Trump loves golf, as we know. Cushman and Wakefield, the real estate company that handled the office leasing at several Trump properties, said Tuesday it will no longer do business with the Trump Organization.
Two different banks have said they are done with Trump, with Signature Bank in New York closing his accounts and returning the money, while Professional Bank in Florida, which loaned the Trump Organization $11.2 million in 2018, “has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship effective immediately,” according to a statement. Trump already had trouble finding banks willing to do major business with him, so now, losing more relationships with $400 million in loans coming due, much of that at Deutsche Bank, is not a good sign for Trump.
Then Trump’s Washington, D.C. hotel, which has benefited enormously from Republicans and foreign countries currying favor by booking rooms, hosting events, and drinking in the bar, could potentially lose its lease. That wasn’t going to happen with Trump as, effectively, his own landlord since the building is owned by the government. But the Biden administration could potentially terminate the lease, The Washington Post reports: “One clause in the contract says Trump would be in violation if he is ‘under investigation by any government authority for alleged criminal activity’— meaning federal or D.C. agencies.” And even with Trump in the seat of power and worth sucking up to by booking overpriced rooms, the hotel was struggling financially. The situation is not going to improve.
What a shame it would be if Donald Trump not only became the first president ever to be impeached twice but also returned to a business completely trashed by his actions. It’s not enough accountability for what he’s done to the nation, but at least it’s something.
From Daily Kos at Read More. This article is republished from DailyKos under an open content license. Read the original article at DailyKos.