Signature Bank leads call for Trump resignation


For the first time in its 20-year history, prominent real estate lender Signature Bank has issued a comment on the nation’s politics with a call for President Donald Trump to resign.


“We have never before commented on any political matter and
hope to never do so again,” said the New York-based bank led by Joseph J.
DePaolo. “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.”

As well as closing Trump’s personal accounts at the bank,
Signature has also warned it “will not do business in the future with any
members of Congress who voted to disregard the Electoral College.”

The statement followed multiple reports that one of Trump’s
biggest lenders, Deutsche Bank, is also moving to terminate its links with the Trump
Organization and brokerage giant JLL is washing its hands of Trump contracts,
including the marketing of Trump International hotel in DC.

Deutsche Bank has not issued a formal statement and a spokesman for JLL told Real Estate Weekly, “We decline to offer additional comments at this time.”

But in a scathing rebuke, Signature Bank demanded Trump’s
resignation for fanning the flames of hate that led to last week’s attack on
the Capitol Building by thousands of Trump supporters.

“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,” said the statement.

“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.”

New York real estate powerhouse Douglas Durst didn’t hold back either.


He said, “Last Wednesday, a mob incited by the President of
the United States attempted to violently overthrow our Democracy.   As the gravity, severity and carnage of this
sedition has revealed itself, our shock has turned to anger, and troubling
questions are emerging of how this appalling event was engendered and

“What is clear is the value of truth, the danger of
demagoguery and the necessity for restoring a more civil discourse. “

The Real Estate Board of New York condemned the violence.  In a statement, president James Whelan said, “The
violent actions by rioters at the U.S. Capitol are disgraceful, anti-American
and must be condemned by every elected official in our nation, regardless of
party affiliation.”

Meanwhile, the PGA has cancelled its plan to hold the 2022
PGA Championship at Trump’s New Jersey golf course in Bedminster.

“We find ourselves in a political situation not of our
making,” said Seth Waugh, the CEO of the PGA of America, in a statement. “Our
feeling was, given the tragic events of Wednesday that we could no longer hold
it at Bedminster.”

It is the second time the PGA has turned its back on Trump
after cancelling its 2015 Grand Slam in Las Vegas after he made disparaging
remarks about Mexican immigrants.

In New York, the Trump Organization is under investigation
by the Manhattan District Attorney’s office and New York Attorney General, both
of whom have subpoenaed Deutsche Bank about its lending relationship with the

Investigators are looking into whether the Trump Organization misled or defrauded the lender by inflating the value of some of its assets, according to court filings.

Entire counties are also giving Trump the cold shoulder.

In Scotland, where Trump owns two golf courses, First
Minister Nicola Sturgeon said he won’t be allowed to visit Scotland to golf
during a surge in the COVID pandemic there.

Responding to speculation he might travel to a Scotland to
avoid President-elect Joe Biden’s inauguration, Sturgeon said, “We are not
allowing people to come in to Scotland without an essential purpose right now
and that would apply to him, just as it applies to anybody else.

“Coming to play golf is not what I would consider to be
an essential purpose.”

Trump reportedly put his Mar-a-Lago complex in Florida up as
collateral to borrow money from Deutsche Bank in 2016 to overhaul Turnberry,
his three-links course that overlooks Ailsa Craig.

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