What’s Happening:
In the wake of the events of January 6, 2021, numerous institutions turned on former President Donald Trump. The Democrats invented the narrative that he was behind the Capitol riot. And the left rushed ahead with wild accusations to drown our legitimate questions about the 2020 Election.
During that time, companies like Twitter, Facebook, and YouTube blasted Donald Trump. Buying the left’s take on the day, these companies cut ties with the former president. But this witch hunt went beyond just social networks. Signature Bank, which had two accounts with the businessman and leader, cut ties with Trump–issuing a vicious, politically-driven statement against him.
Today, Trump is very happy he no longer banks with this group.
From The Post Millennial:
Regulators shut down New York City based Signature Bank on Sunday, a financial institution which had previously cut ties with President Donald Trump following the riot at the US Capitol on January 6, 2021…
On January 12, 2021, the bank told The New York Post that it had begun the process of closing Trump’s two personal accounts and “will not do business in the future with any members of Congress who voted to disregard the Electoral College.”
Well, look at that. In January 2021, Signature Bank closed two personal accounts it had with Donald Trump. The institution then issued a “scathing” rebuke of Trump, accusing him of “encouraging” riots and “refraining” from calling in the National Guard–all of which has been debunked.
The bank claimed it had to revoke Trump’s accounts, claiming it was ensuring the “peaceful transition of power.” Wow, this bank was really full of itself, huh? But today, that bank is gone, after federal regulators shut it down.
Signature Bank is one of two banks that collapsed over the weekend. Both banks were heavily involved in the cryptocurrency market, maintaining large accounts for mostly wealthy Americans. But the federal government had to rush in and secure the deposits of most of their customers as the banks folded.
The FDIC is in the process of ensuring the accounts of most of Signature Bank’s customers, which will cost the government billions of dollars.
Pretty ironic, huh? Signature Bank went out of its way to slander Donald Trump. There was no reason a bank had to get involved in this political issue. But Signature Bank had to let everyone know it was run by partisan liberals who hated the former president.
Yet today, Trump’s money is safe. And the many customers who continued with Signature Bank, after its political move, are terrified.
Key Takeaways:
- A bank that turned on Trump was taken over by the Feds this week.
- Signature Bank closed Trump’s two accounts after the events of January 6, 2021.
- The bank pushed the left’s narrative of the day, blaming Trump for the Capitol riot.
- Signature Bank was shut down by the FDIC after it collapsed.
Source: The Post Millennial
