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Bank United, says it is closing Trumps accounts. Trump had between $5M and $25M deposited there
- Thread starter Loudninja
- Start date
"Now with built in cash and ammo compartments, and super absorbent so you stay dry while pissing yourself over the communist takeover of MURICA!"
Deutsche Bank cut ties so I'm not sure if he'll find a middleman for it.
For the benefit of those wondering what the link is; it's the final financial disclosure of Trump before ending his term as President.
Yeah, that's what I'm curious about. I'd expect lots of businesses to cut ties with him, but banks kinda seemed to me like the type of organization that would put up with whatever, so long as it doesn't put them in legal trouble.
At this point, I wouldn't be surprised if it's a sperm bank.
Part of it is probably reputation related.
But also, the President has likely been doing shady stuff with his money over the years. When regulators come in, it's going to look better to have closed Trump's accounts rather than to have continued to aid him.
I can see him trying to launch his own Crypto currency, which would of course just be a massive pyramid scheme for his cult.
Also, no one wants the eye of Sauron on them if they have other irregularities that might get noticed.
Right. If they find out that they let Trump launder money, its probably going to reveal a larger pattern of ignoring red flags that would suggest broader neglect which often leads to fines.
Would love to be the payroll admin who has to call the Trump ppl asking where they're supposed to deposit his stipend check .
I want to say when this first started I read that he had accounts with Jp Morgan and Citibank
I'm surprised they're allowed to do this, I support it fully
I figured there'd be a lot of laws to prevent banks from closing your accounts, for better or worse
I figured there'd be a lot of laws to prevent banks from closing your accounts, for better or worse
Ha, wow. I would think that the average person would never have to deal with that.
Is rather see his assets frozen and eventually seized (to settle lawsuits), than preemptively returned.
But maybe him running around with a really large check that no one will cash can be just as fun?
But maybe him running around with a really large check that no one will cash can be just as fun?
What would really be funny is that the banks are using their right to setoff because his loans are overdue.
Not sure why it says 3 of 4 as Trump still has accounts with JP Morgan & Capital One. Although the JP Morgan one is only a couple of small savings accounts from his dad
The majority of Trump's remaining money is with Capital One
Trump's account at this bank is actually in the form of a revocable trust and the vast majority of the wealth in that trust is almost assuredly in the form of property assets rather than cash or credit. So by closing the trust, the bank is just transferring the properties back to Trump.
Dealing with legal holds is still a hassle. No bank wants to deal with the scrutiny of a lawsuit (depositions, doc requests, etc.) if they can avoid it.
Trump is like a ticking time bomb.
Banks can decline to do business with anyone they deem a risk.
Gotcha. That makes sense. Thanks for the explanation!