The correct move. Political? Yes. Correct? Also yes.
You can’t be in charge of setting rates and at the same time be scamming the system.
You can’t be in charge of setting rates and at the same time be scamming the system.
Fed Governor Lisa Cook Fired with Cause
- Thread starter fatpiggy
- Start date
Fall in line with your petty leader. He thinks for you.
Trump must know something the rest of us don't...You don't fire someone because of allegations. She should have her chance to explain the reasons why she did what she did. There might well be a reasonable explanation. Or this might be another instance of fire, aim, ready
He's pushing this retribution scheme way too damn far and now against people that had nothing to do with holding him accountable for his voluminous criminal activity. He must really believe he's getting a third term because payback is gonna be hell.
The fvcking irony. A decent man would learn from his own past mistakes and not charge every bl...I mean ..person he hates with the same crimes he's guilty of, just because he can. He makes himself more hateable by the hour.
YOUR PRESIDENT.The fvcking irony. A decent man would learn from his own past mistakes and not charge every bl...I mean ..person he hates with the same crimes he's guilty of, just because he can. He makes himself more hateable by the hour.
Is a CRUEL FASCIST WIDELY HATED BY THE WORLD AND MOST OF AMERICA.
"I think many Americans wrongly believe there would be one clear unambiguous moment where we go from “democracy” to “authoritarianism.” Instead, this is exactly how it happens — a blurring here, a norm destroyed there, a presidential diktat unchallenged.
We’ll see. I would not be surprised if she wins this one.
but a couple of notes….
They tried this “mortgage fraud” theory with Maryland’s ag and also with schiff. So far it has not worked.
but note that it is basically the same theory (fraud in the inducement, as opposed to actually causing financial damage) underlying the Trump ny case.
finally, if anything says “Jerome Powell ain’t going anywhere” this is it. The admin has obviously gotten the message (including from potential replacement candidates like Waller) that’s a fight they don’t want. So he’s going after the fatter zebra in the herd, which substantively isn’t horrible as cook isn’t particularly compelling as a monetary policy economist.
but a couple of notes….
They tried this “mortgage fraud” theory with Maryland’s ag and also with schiff. So far it has not worked.
but note that it is basically the same theory (fraud in the inducement, as opposed to actually causing financial damage) underlying the Trump ny case.
finally, if anything says “Jerome Powell ain’t going anywhere” this is it. The admin has obviously gotten the message (including from potential replacement candidates like Waller) that’s a fight they don’t want. So he’s going after the fatter zebra in the herd, which substantively isn’t horrible as cook isn’t particularly compelling as a monetary policy economist.
Powell is gone in May anyway.
I don’t think it’s the same theory they tried to get Trump with. Trump paid back his creditors in full. Cooks fraud she will still owe money. She was in charge of the system at the same time as scamming the system. Can’t happen.
nah, it's pretty much the same; no real sense that she wouldn't pay back. Only real difference is timing.
It is true that Powell is gone in May, but I do think this is Trump exploring a more politically palatable way to test the waters re: Fed oversight authority than going after Powell. I do hope we get Waller in May - just the right guy for the job both intellectually and in terms of his institutional respect, and a great guy generally (enjoyed a couple of beers with him watching football around the fire pit a year or two ago).
Of course there is the real sense she wouldn't pay it back, that's why she lied on the form.
For those unaware, when you get the mortgage there are different rates for first homes verse homes after your first. You must sign a document saying that you plan on your first home being your primary residence for at least 1 year. You can't have more than one primary residence. By claiming both as primary residence she was trying to get a lower rate. That is fraud.
I get it, it's political, but at the same time it is totally justified. You can't have the people in charge of the system, gaming the system. She is properly fired with cause. I don't love it, but it is well within Trumps right to fire her and the cause is 100% legitimate.
It wasn't that long ago that democrats were saying "No one is above the law". They want a two tiered justice system.
and that is basically the theory of the trump case, except representations relating to valuations which (like here) affected the risk premium. and as noted, his loan is closed, hers is still open, but I'm all ears if you can point me to something suggesting she's at realistic risk of default on it
Doesn't matter if she is in default. She lied and gamed the system when she is in charge of the system. Fired with cause is appropriate.
I agree; your earlier post suggested that it did, but perhaps I misinterpreted that. Either way, it's the same basic theory of inducement via false statement, and I suspect neither loan transaction would produce actual quantitative harm to the lender.
My basic point here is that it's more of the same where each party has a tendency to do basically what it accuses the other of wrongfully doing.
PS, probably cause, but maybe not.
...and the Scotus has pretty clearly signaled that as it relates to the Fed.
Which is probably why he's invoking the "for cause" theory.
I personally over my many years have made objective and subjective evaluations of assets regarding loans. If the asset is cash, it's easy to count. If it's raw land and you have comps nearby, then it gets closer to a valuation. Then you get assets that are hard to quantify. I could have guessed Mar Largo at 1 TO 1.5 billion and been right. Under no circumstances would I have found Trump in any way guilty of the New York Kangaroo Court and Charges. A total legal joke. If researched, I would personally bet that 100% of the NY real estate dudes do the same all the time. James was just trying to fit a crime and narrative that had no basis in law and found enough ignorant folks to join the parade.
I have not seen the exact evidence that shows the lady falsified her application but suspect I have been guilty myself on occasion. The difference between myself and her is that she is in a national position of trust. Any inkling that she gamed the system is a big no no.
I had a friend attending a HBCU and he was white, and we talked about him identifying or claiming to be black as that is the honey pot and lots more benefits than when white as a reality. We decide against it as if that application was ever reviewed and he was in a position that required TRUST then he would have to deal with it.
So the lady has probably a bunch of red flags. We shall see.
Under investigation and as an attorney you well know these things can be drawn out and to one sides advantage.
Agreed as to all of the factual stuff, though as to the ability to terminate fed governors, I suspect that could be legally a little messier; as noted, I think that's the reason tehy went with cause.
The Governor Cook has probably violated the public trust which is alleged ( being a lawyer you appreciate that word )
Most people on this site jump to convictions before hearing hard evidence. The point I would say to anyone is the general public ( this board and me) are really in the dark as to concrete evidence as to what trust Governor Cook has violated. I personally would say that if you investigate every elected official in Washington the city would not have a single person left in government.
The problem I see with the Trump saying he is removing the Governor is that we have really divided government.
If there were more consensus in our country Trump removing her would ho unnoticed.
With the constant power fight with the Democrats being on the bottom of the pile means they will fight over any and all things Trump.
For clarity I am a huge supporter of Trump policies so I carry a bias. However if I were a Democrat trying to regain huge ground in future elections I would change my strategy. Of course I think in terms of conservatism.
My strategy would be to match Trumps policies. Become a copycat and work to get back to the middle. Of course that is a hopeless strategy as the liberal left is presently driving the party and the party really has no moderate provenleader in sight.
Like a predator alligator I just watch and wait. LOL
Without doubt, I think our biggest problem as a country is that our politics are becoming increasingly parliamentary (ie, every question is a binary one and the team is the only thing that matters). I'm frankly shocked that for the first time I can ever remember, we have legislators who don't jealously guard their article I prerogatives.
Trump can be quite maddening. The paradox is that on many things, he is in fact at least directionally right. But man, the tactics. On the one hand, they go against almost all of my instincts as a fairly conservative lawyer who is a huge believer in our system, and their sometimes needless cruelty go against my instincts as a Catholic. On the other hand, by way of explanation and not justification, the tactics are in fact a combination of (i) payback for the lawfare and (ii) the fact that one of the things he learned in 2016-20 was that there's a very limited window for Presidents to do the things they want to do. I often wonder how things might be different today, had he been given the 'normal' chance to govern that most presidents get, back in 2016.
I am still wondering myself what happened to America in which we are now about hate, fear mongering and identity politics over equal opportunity and meritocracy along with forgetting to be balanced and fair with compromise in politics.
You hit the proverbial nail on the head in that politics has become so toxic that it is a total cluster and everybody seems to be dirty and stink.
On another good point is Taylor Swift and Travis Kelce are engaged.
Suggest you get in on writing the Pre-nup LOL
You hit the proverbial nail on the head in that politics has become so toxic that it is a total cluster and everybody seems to be dirty and stink.
On another good point is Taylor Swift and Travis Kelce are engaged.
Suggest you get in on writing the Pre-nup LOL
Man I would be uniquely unqualified to do that. I'm just a poor drug industry schill who focuses on price regulation and commercialization.
My wife’s first cousin worked in DC for many years with a law firm with one case I remember was some drug for Cancer I think was called Taxal or was from a plant named taxal
Made a huge fortune with the pharma
Yeah one of the great chemo drugs in history. Used by lance Armstrong. At one point there was massive antitrust and patent litigation.
That’s music to a lawyers ears antitrust and patent litigation
BTW My daughter is an attorney
Watched news on this and did some reflection on doing the best thing for maintaining the integrity of the Fed
The is that Cook has based on the documents that were submitted with the criminal referral have her in a tight box.
There is 100% reason for removal by cause.
Not removing her would be the ultimate racism
and disservice to all Americans
Just because you are a black female does not exempt her from being required to have character and integrity beyond reproach
She violated the trust of the American people
She can fight all she wants but Trump is clearly going to win this one easily
She will spend a lot of money to lose badly
Additionally she is going to become radioactive to the banking industry
The is that Cook has based on the documents that were submitted with the criminal referral have her in a tight box.
There is 100% reason for removal by cause.
Not removing her would be the ultimate racism
and disservice to all Americans
Just because you are a black female does not exempt her from being required to have character and integrity beyond reproach
She violated the trust of the American people
She can fight all she wants but Trump is clearly going to win this one easily
She will spend a lot of money to lose badly
Additionally she is going to become radioactive to the banking industry
The idea that public trust is just shattered by someone with oversight into overall economic health, etc because they put primary residence in two homes is so funny to me.
It’s not like she dropped an investigation into a company after a huge donation to her or anything where the public could worry she’s making decisions for her own betterment rather than for the nation.
Y’all fairly criticize lefties sometimes for virtue signaling or white knighting, and then do that same sort of thing on the other side of the coin here.
Based on what you just wrote you clearly lack the understanding of Moral Compass when it applies to positions of TRUST
I want my appointed employees to be lily white clean. No pun intended. When she took the position she was vetted and took an oath for honesty and integrity.
She violated it so explain to me why she gets a pass on breaking the laws she help monitor and enforce in her position.
How many Republican government officials could be guilty of the same, or worse, if they wanted to dig around in their papers? Hell, go all the way to the top and you'll find the best case for setting a bad example one can imagine and you don't care. If you can't see that this is targeted retribution against an agency that has angered him, you're lying to yourself. The message is loud and clear - if you don't lick the taint, we will find "something" you did wrong and publicly shame and terrorize you for it. This is not healthy for a democracy.
Strong economies protect their central banks. Weak ones look like this. Firing Lisa Cook puts America in the wrong column.