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Posted on 08/26/2025 1:52:46 AM PDT by Libloather
President Trump fired Federal Reserve Gov. Lisa Cook Monday over allegations that she committed mortgage fraud.
“Pursuant to my authority under Article Il of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” Trump wrote in a letter addressed to Cook, which he posted on Truth Social.
Cook, however, argued that Trump has “no authority” to fire her and indicated that she’s not leaving her post, in a statement.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said, according to multiple outlets. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
The longtime academic, who previously served on former President Barack Obama’s White House Council of Economic Advisers and former President Joe Biden’s transition team, has hired former first son Hunter Biden’s lawyer, Abbe Lowell, to represent her.
In a statement, Lowell vowed to take “whatever actions are needed” to stop what he described as Trump’s “illegal action.”
Cook’s firing comes after Federal Housing Finance Agency Director Bill Pulte accused the Federal Reserve board member of falsifying bank documents and property records to secure better loan terms, in a criminal referral sent to Attorney General Pam Bondi last week.
Pulte alleged in an X post that Cook had designated a condo in Atlanta as her primary residence in July 2021, just two weeks after taking a loan on her Michigan home, which she also declared as a primary residence.
(Excerpt) Read more at nypost.com ...
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Yikes!!!!!
Sure is a lot of mortgage fraud within government employees.
All reading the same book.
The fraud allegation make this an interesting test case for the courts. She asked for it.
Well, at least she DID figure out how to lower HER intereet rates!../s
Send in Federal Marshals to remove her.
Yes, and all apparently wealthy enough to own two houses and take out two mortgages simultaneously.
Hardly to be considered itty bitty babies to whose defense we are drawn to leap.
Send US Marshalls to arrest her for trespassing. Somehow deport her criminal a**!
She’s the first colored woman ever to hold that position. Screams of racism towards Trump has already started.
Hopefully, she will also be the first to go to jail. Since Powell has been silent, Powell can then let her serve on the Fed from her jail cell.
She can do whatever she wants to do. Just stop paying her. She’s received a paycheck from the government and government funded universities her entire life. She has never held a job anywhere else.
That this life long trough feeder has to buy a house using other people’s money, surprises who? Why are very highly compensated government employees and appointees needing access to other people’s money to buy a house?
Call the Bob’s....
Fix the glitch
That’s the way many in government get rich,,,,,,i,e, Bernie Sanders and others.
“You ain’t the boss of...” oh wait.
GREAT CASE OF FAFO, IMO.
Send in the Federal Marshall’s and drag her ass out of there. Bitch.
Yes, abolish the FED, what part of the stated goals of the FED Charter have they actually accomplished? Moderate inflation? NO. Moderate or prevent wild economic swings? NO. Moderate significant changes in employment? NO. They are nothing but a political tool and a profit center for the wannabe wealthy but they can’t even do that right having lost money the last year
The Federal Reserve’s mission is to promote the U.S. economy’s health and financial stability through its three key objectives set by Congress: maximum employment, stable prices (low inflation), and moderate long-term interest rates.
I listened to all of Powell’s presentation at Jackson Hole the other day. He said as close to nothing as he possibly could. Payne on Fox had a similar assessment. Powell did typical economist speak,
“on the one hand this, on the other hand that.” In other words, they don’t know a thing about the future path of the economy. Their crystal ball is not much or any better than anyone’s.
Abolish the FED. We should be able to do better.
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