The fallout stemming from disgraced outgoing President Donald Trump’s failed insurrection at the Capitol last week continued on Wednesday when New York City Mayor Bill de Blasio announced that the Big Apple is severing contracts with the Trump Organization.
Trump’s attempted coup has already cost him dearly in the last week. The PGA stripped his Bedminster golf course of the PGA Championship event that had been scheduled to take place there in 2022. Then Deutsche Bank and a second financial institution also cut ties with Trump and will no longer lend him money.
These are devastating blows to Trump’s profits, which took another major hit this week because New York City is severing contracts with the Trump Organization worth around $17 million, as Mayor Bill de Blasio explained on Morning Joe.
“The city of New York is severing all contracts with the Trump Organization,” he said. “Our legal team has done an assessment, and the contracts make very clear, if a company — the leadership of that company — is engaged in criminal activity, we have a right to sever the contract. Inciting an insurrection, let’s be clear, I’ll say these words again, inciting an insurrection against the United States government clearly constitutes criminal activity. So the city of New York will no longer have anything to do with the Trump organization. They have profited from these contracts, they will profit no longer.”
“Right now, the Trump Organization profits about $17 million a year from these contracts that cover four different sites — three in Manhattan, one in the Bronx,” he continued. “And, look, it’s quite clear, the president of the United States directed a mob to attack the U.S. Congress during the electoral college vote. That’s — even saying the words, Mika, it is almost impossible to believe, but it’s criminal activity and so it’s very clear and the lawyers looked at it. It was just as clear as a bell — that’s grounds for severing these contracts and we’re moving to do that right away.”
Here’s the video via YouTube:
That’s on top of state and city investigations of Trump and his businesses that could result in his company being seized and/or shut down. Scotland is also investigating Trump’s business and could shut down his golf resort there, which won’t be hosting the British Open for a long time either.
And it’s quite likely that other states, cities, countries, and private companies will look to sever ties with Trump and his businesses as well. If only Trump had divested himself from his businesses when he had the chance, he might have been able to look forward to resuming his business activities after leaving office. Now he’s suffering major losses and no financial institutions will bail him out. But that’s what should happen to anyone who commits treason against the nation.
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