Jan 18, 2021
Corporations and banks are making a grand show of “fleeing the Trump brand,” after the riot at the U.S. Capitol.
New York’s Signature Bank and Deutsche Bank announced no future business with the Trump organization. The Shopify website shut down trumpstore.com. The PGA canceled plans to hold its 2022 Championship at a Trump golf course. And New York City just terminated contracts for Trump’s company to run a carousel, two ice rinks and a golf course in city parks.
In so many words, they all claim that being associated with Trump’s brand would besmirch their brands. After every outrageous thing that Trump has done, NOW they have a problem?
By publicly declaring that their campaign contributions are on pause, or that they are ending past business relationships, all of these big corporations and banks have more or less declared that their campaign contributions and contracts were funding Trump and his allies and his racism all along!
Many big businesses and banks have also put campaign contributions to some or all politicians on pause. The list includes top hitters on the New York Stock Exchange and the NASDAQ.
But don’t worry. After a very brief pause for show, the campaign contributions from top banks and corporations will begin flowing again under the Biden Administration.
Corporations are doing what they always do, switching from the outgoing administration to the new administration, looking to move away from a situation that got a little chaotic.