Banks are shutting their doors on Donald Trump

A political truism is that the KKK was the paramilitary arm of the Democrat party. (One can say the same thing today about Antifa.) Now, leftist run giant corporations are proving that they are the censorship and financial branches of the Democrat party. The latest example is the number of banks refusing to handle Donald Trump’s money. While it sounds bad, this helps the rest of us know where our money does not belong and it might provide a business opportunity for Trump.

With Trump out of the White House, Banks United in Florida, which held somewhere between $5.1 million and $25.2 million in Trump funds, has booted the former president. In this, it is following in the footsteps of multiple other banks that serve as financial hatchet men for the Democrat party. The Gateway Pundit, which reported on Banks United, notes that Professional Bank, Signature Bank in New York, and Deutsche Bank have also dumped Trump.

There are a few points to be made. As noted in the introductory paragraph, the Democrat party is able to skate past constitutional and legislative restrictions on discriminatory behavior when it comes to conservatives because the corporate world – staffed by generations of people who passed through the leftist indoctrination centers known as colleges and universities – is taking care of all that nasty discrimination, marginalization, and spying.

I’ve argued before that many of these businesses are the modern versions of places of public accommodation, making them the equivalent of hotels and restaurants under the Civil Rights laws, but most of these acts of discrimination haven’t made it to the courts. Additionally, the Supreme Court’s passivity over the last three months has sent a strong message to lower courts across the land: If it’s done for the benefit of Democrats, it’s fine. In any event, once the Democrats pack the Supreme Court, the Constitution won’t be toilet paper, which still has some value; it will be used toilet paper, which has no value at all.

However, here are a few good things to think about:

Clarity: You now know where not to put your money. Whenever businesses get political, they hurt their bottom line. While “social justice” is now apparently part of good corporate governance, there’s only so much money-losing social justice corporate governance that shareholders are going to take before they put their money somewhere else.

The same is true for bank depositors. Why in the world would Trump’s 74,216,722 voters entrust their money to any of those banks?

Opportunity: When businesses fail because of bad management, that creates opportunities for competition. Taking money away from discriminatory banks helps other banks that don’t discriminate, reinforcing the message that discrimination is bad for business.

There may also be a different kind of opportunity here. I’ll be the first to admit that I know almost nothing about banking law or creating a bank. However, one of the smartest people I ever knew told me that, for rich people, banking is a very good business. Moreover, when he told me this, perhaps 20 years ago, he also told me that it’s not that difficult to get into the private banking business.

So, what would all of you think about banking with the Bank of Trump? Provided that he staffed it with entirely upright and experienced people, and they managed it with transparency, I’d be happy to put my money there. Those banks that are throwing out Trump’s money have not only depleted the money available to them to make money, but they may also have created a powerful competitor.

IMAGE: Bank by Max Pixel. CC0 Public Domain.

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