After Joe Biden’s victory over Donald Trump on November 3, the radical Left believes that the conservative movement in America is wounded like never before.
Like sharks smelling blood in the water, they can’t wait to close in for the kill.
And the Wall Street bankers’ latest attack on President Trump could cement the Democrats in power forever.
The Democrats, the Fake News Media, and the Big Tech giants are blaming President Trump for the riot that took place at the Capitol on Wednesday, January 6.
Virtually every major institution in America is joining the Democrats by lining up against President Trump.
And after being kicked off every social media platform and having his ability to accept donations revoked by the credit card processing company, Stripe, the Wall Street bankers are joining in by announcing they will no longer make contributions of any Republican Representative or Senator who voted to reject Pennsylvania and Arizona’s slate of electors.
J.P. Morgan Chase, the nation’s biggest bank by assets and market capitalization, said it is halting donations through its PAC for six months. Citigroup, the third-largest U.S. bank by assets, is reportedly pressing pause on political donations for the first quarter of 2020.
Goldman Sachs put the kibosh on donations pending a review of “how people acted during this period,” according to the New York Times, with the likely result that it will exclude Republican politicians who challenged the 2020 election results. Morgan Stanley also said it is stopping political contributions. It is considering withdrawing support for any politicians who voted against certifying Joe Biden’s electoral college win.
Bank of America and Wells Fargo are still considering their response but are likely to follow the path chosen by their competitors.
Under federal law, banks can only contribute up to $5,600 to candidates and PACs per election cycle.
However, for Party Committees, such as the National Republican Senatorial Committee and the National Republican Congressional Committee, the limits are much higher.
And for Super PACs, there are no limits on how much banks can contribute per cycle.
As of the writing of this article, the Wall Street bankers haven’t said whether or not their donation ban will extend to party committees and Super PACs.
But given the current trend toward cracking down on conservative speech, if it doesn’t currently apply, it likely will in the future.
And should that happen, it would deal a crippling blow to Republicans and conservatives as they would be left defenseless against the Democrats and their billions of dollars.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.