By Jenco Mackey
In moves not seen before from big business, doors are being closed daily to a sitting U.S President. Namely, Donald J. Trump has seen his influence and stature deminish wildly since the Capitol riots with not only business, but also former allies turning their back on him.
His diehard supporters in Congress will now feel the wrath of those choices come back to effect their future fundraising efforts suffer due to their undying support of the 45th President of the United States of America in the wake of Capitol riots intended to disrupt the Congress and Senate in their attempt to certify the electoral college results.
Walmart Inc., the world’s biggest retailer announced Tuesday that in the wake of last week’s attack on the U.S. Capitol, its “political action committee is indefinitely suspending contributions to those members of Congress who voted against the lawful certification of state electoral college votes.”
The Bentonville, Arkansas based chain has joined with Walt Disney Company and several other major companies in stopping their political donations to members of Congress who voted against the certification of the electoral college this past week.
Disney said in a statement that in the “immediate aftermath of that appalling siege, members of Congress had an opportunity to unite — an opportunity that some sadly refused to embrace. In light of these events, we have decided we will not make political contributions in 2021 to lawmakers who voted to reject the certification of the Electoral College votes.”
AT&T, Inc, Amazon.com Inc, and Mastercard Inc., announced similar positions over the past several days.
General Motors, Co., joined other firms such as JPMorgan Chase & Co, Alphabet Inc’s Google and Union Pacific Corp in pausing contributions to all members of Congress, rather than those who opposed Biden’s certification.
Deutsche Bank and Signature Bank have cut future ties with President Donald Trump because of the Capitol riots Jan. 6 that left five people dead.
Deutsche Bank has said it will no longer consider Trump for future loans, while Signature Bank has taken the step of cancelling Trump’s personal accounts with the bank.
Trump currently has two personally guaranteed mortgages for a total of $340 million, according to reports. Should he be unable to pay off those loans as they come due over the course of the next two years it could lead to the forfeiture of personal property including real estate and other holdings.
Trump’s two personal accounts with Signature Bank held approximately $5 million, according to reports.
Signature Bank released the following statement:
“We have never before commented on any political matter and hope to never do so again. However, as Americans we are deeply, deeply saddened by the rioting and insurrection which took place in the most sacred of American institutions, our United States Capitol.”
“To witness a rioter sitting in the presiding chair of the U.S. Senate and our elected representatives being told to seek cover under their seats is appalling and an insult to the Republic. We witnessed the President of the United States encouraging the rioters and refraining from calling in the National Guard to protect the Congress in its performance of duty.”
“At this point in time, to ensure the peaceful transition of power, we believe the appropriate action would be the resignation of the President of the United States, which is in the best interests of our nation and the American people.”
In addition to the banking setbacks, Trump has seen his massive social media following grind to a halt as he has been banned from from Twitter, Facebook and a number of other social media outlets at the end of his presidency.