JP Morgan Once Told Donald Trump He Has 20 Days To Get Out

Imagine an individual with hundreds of millions of dollars in cash who wants to put his money in a bank, a big bank — in fact, the biggest banks in America — and they won’t let him.Then, imagine this billionaire has a long-term banking relationship with financial giants, but one of them told him, “I’m sorry, sir, we can’t have you. You have 20 days to get out.”That’s the incredible story President Trump disclosed today in an interview on CNBC — of how JP Morgan and Bank of America debanked him.He had done business with them for many decades. He had never defaulted.When he was president, he talked to their chief executives, Jamie Dimon and Brian Moynihan, on a regular basis.Indeed, when Mr. Trump was president in his first term, he deposited $1 billion-plus to open accounts at Bank of America.This is a bad tale. It’s a bad story.The banks themselves will tell you at the seniormost levels that they have no political reasons to turn down customers.That’s not true, though.In recent years, President Biden’s bank regulators were pressing banks to discriminate against Mr. Trump, conservatives, religious organizations, crypto, ESG, meaning no loans to fossil fuel oil companies, or anybody who didn’t worship at the altar of DEI (diversity, equity, and inclusion) affirmative action.That was the Biden way.Mr. Trump is going to try and end all this by coming out with an executive order that will punish banks that discriminate against conservatives — or any other groups.And he can’t get this order signed soon enough, if you ask me.Back to his story. Whether it was the aftermath of January 6, 2021, or the crazy criminal lawsuits from Alvin Bragg at New York, or the Russia hoax at Mar-a-Lago, or the nutty prosecutors at Atlanta — big banks like JPMorgan, Bank of America, and many others denied Mr. Trump banking privileges.They were worried about their “reputational risk” — or so they say. But “reputational risk” is a very bad test.The other reality is that Biden bank regulators threatened banks with fines, criminal charges, and extreme supervisory actions — unless the banks denied privileges to Mr. Trump.It’s an extraordinary story.And, as the president now tells it, he had to go to a bunch of smaller banks around the country in order to make his deposits.Fortunately, this chapter of left-wing debanking — and left-wing bank knee-bending — is coming to an end with a new executive order, and presumably new Federal Reserve regulators who will end political discrimination once and for all.From Mr. Kudlow’s broadcast on Fox Business Network.

JP Morgan Once Told Donald Trump He Has 20 Days To Get Out

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