Where is Jerome Powell ?
He should have fired her.
By letting her stay, he is saying loudly and clearly that character, honesty and integrity are NOT required to serve on the Fed.
Those who have allowed, or ENCOURAGED, her to stay
after firing should themselves be fired,
then tried and jailed.
It’s not as simple as you might initially think.
This is a possibility:
Cambridge place - secondary residence
Michigan place - long-standing primary residence
Atlanta place - intended future primary residence
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A lot of people would like to get out of ‘rat-infested Michigan, including black folks.
It matters what her intentions were. It would take an investigation to find out for sure.
She had a job in Michigan with a long commute. She might have hated the job or the commute, had a nasty boss or awful students.
She might have been in a relationship with an Atlanta area man that didn’t work out. She might have older relatives in Atlanta that she might within a few years have help to care for.
She might have bought the Atlanta place to lock in a cheap mortgage rate even if she wouldn’t be able to move in for say two years.
She might have fully intended to comply with the terms of the mortgages and explained her situation to the lending officers. Her mortgage dealings would amount to contract breaches and not mortgage fraud.
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One of my neighbors had a job in the Boston area. He bought a house in Florida as he had relatives here and wanted a house he could afford. He kept his Boston area job for about two years and lived with family up north when doing part of the job up north and down here when he could work remotely.
He eventually got a near 100% remote job so he could live and do his work here in Florida.
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Mortgage companies could do what my friend’s co-op does. The co-op gets 10% of the rent the first 12 months, 20% of the rent the second 12 months, 30%....
The mortgage company could alternately increase the interest by one-tenth the first 12 months of rental occupancy,....
The percentage might reset after a certain number of months of primary residence usage.
She’s probably likely to vote to lower interest rates as Trump would like.
The Trump Organization probably has well over $100 million in mortgages. Personally, I think Trump should recuse himself from Fed appointments.
CD Granny is quite likely white. Mortgagors are more likely to be people of color.
A few people shouldn’t be able to decide to cut the interest incomes of tens of millions of old folks.
My mom got about one-third of her retirement income from CD interest.
The Federal Reserve needs operational reforms.
The rate banks pay and get on their reserves should be decided by a stock market like system.
The rate of money creation might be population-based monetary demand growth plus 2% for inflation.
Population-based monetary demand growth might be average yearly USA population growth 25-35 years ago to reflect the number of Americans in their prime buying years.
Another way of figuring good-reason monetary demand might be mortgage growth plus a percentage of Social Security system revenue.
The Trump Organization almost certainly has massive mortgages, and Donald Trump would have no reason to suspect otherwise. Donald Trump has a conflict of interest in appointing Federal Reserve governors.
The Federal Reserve should only be able to lend out money:
1. at premium rates that grow over time, and
2. only to financially sound banks and governments.
Interest rates should normally be set by market systems.
The news services don’t like to be quoted for FR posts.
The allegation by Pulte was not true.
The far-left “media” scum has already started to defend her. RATS tend to gather into bunches.
Michigan property tax gives a primary residence a 40 percent reduction on the property tax. Given he place in the hog trough, I would guess it is some real money. People here have to sign an affidavit which clearly states it is a criminal offense to lie on the affidavit.