Opinion First Thing: Trump says he is firing Fed governor Lisa Cook in escalating attack on bank’s independence

[cottagecheesefan]

That went over your head.

Every time something is found out it is "breaking the law" if they were a righty and "an honest mistake" if it was a lefty.

I think Trump is "sophisticated" enough to know he was breaking the law for better loan rates. The same way thatcI believe this lady was as well.

Disagree. Trumps loans were commercial, lawyers involved, very worded legal statements, etc

The mortgages are private property and the laws are very strict. You can only have one primary residence, period. It isn’t just about bank loans, it is also about taxes, etc. Not to mention if being used as rental and not being reported.

The Trump case is completely different and is 100% targeting lawfare, where are this compete stuff is by the book public records, not negotiated legal documents between commercial entities

 

[Unknown Pleasures]

In a perfect world Trump wouldn't be in office to make this call, but this is par for the course and most are tired of it.

Remember when Tim Geithner apologized for not paying his taxes and was then appointed to head the IRS? Lol

Yeah, though to be honest, I have no idea at what point does taxes owing go from "pay interest on the balance" to actual punishment. But I think he was in the same situation of having international income and tax irregularities.

As for being tired of it, I don't know. People seem to be very neurotic these days. I mean, that CEO jsut a few days ago that intercepted the autographed hat the tennis player was giving out had folks wanting to him be fired (not sure if he owned the company or had a board to answer to), all for something that at worst if it was a crime would be like petty theft.

I'm not really sure if the concept of "do the crime, do the time" really has a place any more... are you are considered debt free and rehabilitated after? Should this lady ever be able to work again? The social mobs really don't have any consistency for anything. In this madness and disarray, who the fuck really knows what the rules are any more, and it's easier for people with pitch forks to get away with anything.

 

[Islam Imamate]

That went over your head.

Every time something is found out it is "breaking the law" if they were a righty and "an honest mistake" if it was a lefty.

Is that true though? Pence was found to have classified documents in his possession after leaving office but since he cooperated with the authorities he was not charged

I think Trump is "sophisticated" enough to know he was breaking the law for better loan rates. The same way thatcI believe this lady was as well.

Did she get better rates? From the evidence it seems the rates on those homes were lower than the national average for primary residences.

 

[PainIsLIfe]

I'm not sure what you want, it's part of a system of shared power and oversight. Again, like I said previously, he's her "boss" in the same way the legislative branch is his boss. That is, not at all, even though the one is accountable to the other. That's how representative democracy is supposed to work. The authority of the executive to remove with cause serves as a check on what is intended to be a part of our system that operates largely outside the direct instruction or influence of the executive.

And what single individual has the poelwer to remove you from your job?

Bigger question that you keep ducking - should she be allowed to break the law and keep her job?

 

[PainIsLIfe]

Is that true though? Pence was found to have classified documents in his possession after leaving office but since he cooperated with the authorities he was not charged

Did she get better rates? From the evidence it seems the rates on those homes were lower than the national average for primary residences.

You pay lower rates and insurance on a primary residence. Someone else mentioned rental - not sure if she did or not, but some loans forbid renting and insurance rates are ridiculous for a rental property.

 

[Limbo Pete]

And what single individual has the poelwer to remove you from your job?

Bigger question that you keep ducking - should she be allowed to break the law and keep her job?

She's not doing my job, she's doing a very specific one that operates with a very particular set of parameters. The President is not the "boss" of the Fed. Indeed, conceptually, that would completely flip the purpose of the Fed.
And nobody said she's allowed to break the law. But her "boss" making allegations and then using them as proof of cause is very very obviously outside the scope of his oversight role. If simply leveling an accusation is enough, then there's no standard for cause itself.

 

[PainIsLIfe]

She's not doing my job, she's doing a very specific one that operates with a very particular set of parameters. The President is not the "boss" of the Fed. Indeed, conceptually, that would completely flip the purpose of the Fed.
And nobody said she's allowed to break the law. But her "boss" making allegations and then using them as proof of cause is very very obviously outside the scope of his oversight role. If simply leveling an accusation is enough, then there's no standard for cause itself.

Hasn't she admitted it? Her claim is that she can only be fired for malfeasance on the job. And that she definitely can't be fired for a crime committed before she joined the Fed

 

[cottagecheesefan]

Hasn't she admitted it? Her claim is that she can only be fired for malfeasance on the job. And that she definitely can't be fired for a crime committed before she joined the Fed

It is funny because if she hasn’t amended her mortgages, she is actively committing fraud, while in this position, every single month her mortgage payment is paid.

Moreover, someone posted the actual legislative language on the matter. And it in fact does not say the act has to be commited during their time in the position. Just that it comes into question during that time.

That actually now is trying to be applied to their new argument, that the Biden admin didn’t vet her enough as well as the senate and/or they were all aware of it.

That is interesting because they were actually a party line vote with Kamala having to cast the tie breaking vote.

So if she was aware already, the democrats were aware, she did not change anything on her filings and is knowingly committing fraud? Like what? Lol

Lisa Cook told Biden admin, Senate of mortgage issues ahead of Fed confirmation, her lawyers say

Trump announced Aug. 25 that he was removing Cook from the Fed board over claims she improperly listed both an Atlanta condo and a Michigan home as her primary residence.

nypost.com

 

[Limbo Pete]

Hasn't she admitted it? Her claim is that she can only be fired for malfeasance on the job. And that she definitely can't be fired for a crime committed before she joined the Fed

And even if that scenario was accurate, it doesn't change what I've outlined above. Accusations =/= cause

 

[Islam Imamate]

You pay lower rates and insurance on a primary residence. Someone else mentioned rental - not sure if she did or not, but some loans forbid renting and insurance rates are ridiculous for a rental property.

I know you get lower rates for your primary residence, I'm asking you what evidence do you have that this was the case?

In an earlier post I addressed a source cited earlier which in fact shows that she got a higher interest rate than is typical for primary residences.

Has new evidence emerged suggesting otherwise?

 

[PainIsLIfe]

It is funny because if she hasn’t amended her mortgages, she is actively committing fraud, while in this position, every single month her mortgage payment is paid.

Moreover, someone posted the actual legislative language on the matter. And it in fact does not say the act has to be commited during their time in the position. Just that it comes into question during that time.

That actually now is trying to be applied to their new argument, that the Biden admin didn’t vet her enough as well as the senate and/or they were all aware of it.

That is interesting because they were actually a party line vote with Kamala having to cast the tie breaking vote.

So if she was aware already, the democrats were aware, she did not change anything on her filings and is knowingly committing fraud? Like what? Lol

Lisa Cook told Biden admin, Senate of mortgage issues ahead of Fed confirmation, her lawyers say

Trump announced Aug. 25 that he was removing Cook from the Fed board over claims she improperly listed both an Atlanta condo and a Michigan home as her primary residence.

nypost.com

I don't think the politicos in Washington think too much of it as an issue because probably 70%+ of them have/are doing the same. IIRC, her issue for conformation was her lack of real experience.

It is an interesting point that without amending the loan apps, she is actively committing fraud. Another thing the political class are used to doing is to just make adjustments/pay what they owe and go on to the next gig as if nothing ever happened.

 

[PainIsLIfe]

And even if that scenario was accurate, it doesn't change what I've outlined above. Accusations =/= cause

She and her lawyer have admitted to the crime, but Limbo Pete says that isn't proof; it's just an accusation. LOL

I have to admit that I like her new excuse better - you can't hold criminality against her since she told Biden beforehand.

 

[Limbo Pete]

She and her lawyer have admitted to the crime, but Limbo Pete says that isn't proof; it's just an accusation. LOL

I have to admit that I like her new excuse better - you can't hold criminality against her since she told Biden beforehand.

Are you almost done flopping yet?

 

[PainIsLIfe]

I know you get lower rates for your primary residence, I'm asking you what evidence do you have that this was the case?

In an earlier post I addressed a source cited earlier which in fact shows that she got a higher interest rate than is typical for primary residences.

Has new evidence emerged suggesting otherwise?

Ok; lets assume she paid a higher rate - which seems unlikely since she told Biden she had mortgage issues: Did she pay the higher insurance premiums as she should have? Even under the best scenario there is so much wrong with this.

If she were Trump she would be getting charged by Fanni Wilson.

 

[PainIsLIfe]

Are you almost done flopping yet?

Flopping? I'm not the one excusing criminality because orange man bad.

 

[Limbo Pete]

Flopping? I'm not the one excusing criminality because orange man bad.

If anything, you're excusing further power concentration in the Executive. If we lose the independence of the Fed, we lose one of keys to our success as a contemporary nation

 

[Islam Imamate]

Ok; lets assume she paid a higher rate - which seems unlikely since she told Biden she had mortgage issues:

Wait why is that unlikely? You think whatever disclosure she made to the Biden admin is necessarily an admission of fault? I just cited a source which listed her interest rate as higher than the national average.

Did she pay the higher insurance premiums as she should have?

Idk, would be something to look into before throwing around weeks accusations right?

Even under the best scenario there is so much wrong with this.

Such as?

If she were Trump she would be getting charged by Fanni Wilson.

What makes you say that when you're not even aware of the relevant details in Cooke's case?

 

[Islam Imamate]

Flopping? I'm not the one excusing criminality because orange man bad.

What criminality? Had Cooke even been charged?

 

[PainIsLIfe]

If anything, you're excusing further power concentration in the Executive. If we lose the independence of the Fed, we lose one of keys to our success as a contemporary nation

It's one member and I've stated that Trump's reason for doing it is wrong, but it's still the right thing to do.

 

[Limbo Pete]

It's one member and I've stated that Trump's reason for doing it is wrong, but it's still the right thing to do.

What?