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

[Unknown Pleasures]

1 - If she lied on the application she should be investigated and charged. Firing her for being charged for a crime is a gray area still because it happened before she got this job, so is it or isn’t it “cause” for firing? Fair question, imo, but I’d support removing her at least until after the outcome. If she’s convicted then definitely fire her.

2 - The question is what constitutes cause, as the law requires it before a president can fire a fed. I think committing crimes should qualify, yes.

This the problem that (again) the idiotic far left created (or at least exacerbated) with their mob mentality of punishing people at the accusation stage of an issue. It pains me to say this, but it's a case of someone opening the door and another party walking through it, like how you see on those law and order episodes. Like I said in another thread, they even go so far as demanding the board fire a CEO of a company because he grabbed a hat a tennis player intended to give to someone else. It's beyond fucking petty, they have such disdain for rich people and look to ruin their lives of people as best they can over the most inane stuff, it's incredible. I mean fuck, seriously, what's next? Let's see if AOC didn't declare all her tips for tax purposes when she was a bartender in 2017?

 

[sickc0d3r]

This the problem that (again) the idiotic far left created (or at least exacerbated) with their mob mentality of punishing people at the accusation stage of an issue. It pains me to say this, but it's a case of someone opening the door and another party walking through it, like how you see on those law and order episodes. Like I said in another thread, they even go so far as demanding the board fire a CEO of a company because he grabbed a hat a tennis player intended to give to someone else. It's beyond fucking petty, they have such disdain for rich people and look to ruin their lives of people as best they can over the most inane stuff, it's incredible. I mean fuck, seriously, what's next? Let's see if AOC didn't declare all her tips for tax purposes when she was a bartender in 2017?

I’d say the left mentality of punishing everyone they disagree with has pushed people to the point that they will not care about obvious power grabs like this. Not that the right is innocent of that themselves.

But this is all about Trump trying to consolidate power, nothing else. He fired her knowing this will go to court, and they’re going to have to rule whether or not “cause” for firing, as required by law, is basically anything the president deems credible and a fireable offense. Regardless of any evidence, due process, relationship to the actual position, etc.

 

[syct23]

Unlike you I am capable of thought.

SOURCE!!

 

[PainIsLIfe]

No, he's fucking not lol
God almighty

. Upon the expiration of the term of any appointive member of the Federal Reserve Board in office on August 23, 1935, the President shall fix the term of the successor to such member at not to exceed fourteen years, as designated by the President at the time of nomination, but in such manner as to provide for the expiration of the term of not more than one member in any two-year period, and thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President

.https://www.law.cornell.edu/uscode/text/12/242

 

[PainIsLIfe]

I mean, the fact that she's not his employee is the whole fucking problem. Christ this guy is thick headed. Or just lying.

She's paid 250k to be on the board. what would you call her?


Post above. ^^

12 U.S. Code § 242 - Ineligibility to hold office in member banks; qualifications and terms of office of members; chairman and vice chairman; oath of office

www.law.cornell.edu

 

[PainIsLIfe]

What makes you say she lied on her mortgage application? Because Trump said so?

Her court plea doesn't say she didn't. She claims that he can't remove her unless she commits malfeasance regarding the job.

 

[PainIsLIfe]

So he's a king essentially?

I never said such a thing. I said her boss has seen evidence and canned her.

 

[Islam Imamate]

Her court plea doesn't say she didn't. She claims that he can't remove her unless she commits malfeasance regarding the job.

So guilty until proven innocent? Somehow I always thought it was the reverse but oh well.

 

[PainIsLIfe]

In most courts this is a slap on the wrist offense..

“Sorry your honor I must have filled out the wrong information”

Correct the information and on to the next case..

Waste of courts time.

That isn't what you said when NY was charging Trump with loan fraud. In fact I don't think that was your opinion when he signed an NDA with Stormy and that other chick.

 

[PainIsLIfe]

You don’t think a lot,

It really is that simple…

SAD

So you think a fed chair can commit financial crimes and stay on the board? Just trying to be clear on your stance.

 

[Limbo Pete]

. Upon the expiration of the term of any appointive member of the Federal Reserve Board in office on August 23, 1935, the President shall fix the term of the successor to such member at not to exceed fourteen years, as designated by the President at the time of nomination, but in such manner as to provide for the expiration of the term of not more than one member in any two-year period, and thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President

.https://www.law.cornell.edu/uscode/text/12/242

Which does not make him her employer, or boss. That's not how shared power works in our government. The legislative branch isn't the "employer" of the President because they have the power to impeach.

 

[syct23]

That isn't what you said when NY was charging Trump with loan fraud. In fact I don't think that was your opinion when he signed an NDA with Stormy and that other chick.

I would like to see what I posted back then because I can’t remember,

Post em and I’ll tell you if I was being a dumbass or not..

Pain is life, right?

 

[Unknown Pleasures]

So guilty until proven innocent? Somehow I always thought it was the reverse but oh well.

Respect for due process is at an all time low of my lifetime. More folks than ever have no qualms of taking a guilty because I want them to be guilty no matter what stance, let alone a guilty until proven innocent stance.

To be expected in the "your truth" and "alternative facts" era.

 

[syct23]

So you think a fed chair can commit financial crimes and stay on the board? Just trying to be clear on your stance.

If it were a simple mix up which the court is inclined to understand,

No crime.. but will step down as of no choice.

Does it acknowledge guilt…no

 

[sickc0d3r]

Post above. ^^

12 U.S. Code § 242 - Ineligibility to hold office in member banks; qualifications and terms of office of members; chairman and vice chairman; oath of office

www.law.cornell.edu

She doesn't work for the president, he can't tell fed governors what to do. He does have the power to fire someone for cause, that's what we've been talking about. The definition of cause, and whether an accusation in a letter from one of his minions qualifies. Trump has openly threatened the feds if they don't lower interest rates, and he wants to be able to fire people if they don't do what he wants.

 

[sickc0d3r]

So you think a fed chair can commit financial crimes and stay on the board? Just trying to be clear on your stance.

She should be fired if she committed a crime, but there's no reason to conclude that is the case. We have no idea of the circumstances when those applications were completed. When's the last time you applied for a mortgage? There's a loan originator who walks you though it to start, then you're handed off to a mortgage processor. Along the way, a hard credit inquiry is pulled, and every residence you've had in the last 20 years or so, plus any outstanding loan application you've started, is identified and questioned and requires your explanation, in writing. If she wasn't sure about something she would have been guided by her loan originator or mortgage processor or her lawyer on how best to answer. Let's see those disclosures first, at least. That's why an investigation is needed, because just looking at the final loan documents tells us little to nothing. It's just an excuse for Trump to make his power grab.

 

[Unknown Pleasures]

She should be fired if she committed a crime, but there's no reason to conclude that is the case. We have no idea of the circumstances when those applications were completed. When's the last time you applied for a mortgage? There's a loan originator who walks you though it to start, then you're handed off to a mortgage processor. Along the way, a hard credit inquiry is pulled, and every residence you've had in the last 20 years or so, plus any outstanding loan application you've started, is identified and questioned and requires your explanation, in writing. If she wasn't sure about something she would have been guided by her loan originator or mortgage processor or her lawyer on how best to answer. Let's see those disclosures first, at least. That's why an investigation is needed, because just looking at the final loan documents tells us little to nothing. It's just an excuse for Trump to make his power grab.

Specifics do indeed matter. Though a different scenario, my personal experience with income taxes was I'd be working multiple jurisdictions in a year with all sorts of tax treaties across countries, and contractual arrangements with my employer. I had tax accountants provided by my employer and every time they'd give me a stack of massive documents and calculations like a day or two before filing deadlines which were a nightmare to follow, but ultimately when I signed off they had stipulations in my sign-off that if there were any errors I WAS THE ONE RESPONSIBLE for them; hence, the importance of my "review".

If somebody dug up years later that there was something off, I'd be completely fucked even though it would have no impact or relevance on my ability to do my job.

 

[Scerpi]

What makes you say she lied on her mortgage application? Because Trump said so?

Fucking what? When did you go full retard?



And Lisa Cook never said she didn't commit fraud. She said she made a mistake...



And now there's a third property she made a mistake on

So what is it? She's either committed fraud or she's a moron?

Either option means should probably shouldn't be one of the 7 governors for the Central Bank.

 

[sickc0d3r]

Specifics do indeed matter. Though a different scenario, my personal experience with income taxes was I'd be working multiple jurisdictions in a year with all sorts of tax treaties across countries, and contractual arrangements with my employer. I had tax accountants provided by my employer and every time they'd give me a stack of massive documents and calculations like a day or two before filing deadlines which were a nightmare to follow, but ultimately when I signed off they had stipulations in my sign-off that if there were any errors I WAS THE ONE RESPONSIBLE for them; hence, the importance of my "review".

If somebody dug up years later that there was something off, I'd be completely fucked even though it would have no impact or relevance on my ability to do my job.

Totally. Even on the mortgage app it’s like, hey, you’ve got one business day to answer this. They’re trying to push it through so the circumstance of your credit pull do not change (like if you applied for another line of credit somewhere during the process).
My last one had every place I even rented since 2000. I’m like, they’re rentals ffs! But I had to basically declare I no longer live there.

So she could easily be guilty of this, and whether or not it is intentional (should) matter. Nevertheless, I don’t think there’s any way to tell by just looking at the final apps.

 

[Scerpi]

. Upon the expiration of the term of any appointive member of the Federal Reserve Board in office on August 23, 1935, the President shall fix the term of the successor to such member at not to exceed fourteen years, as designated by the President at the time of nomination, but in such manner as to provide for the expiration of the term of not more than one member in any two-year period, and thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President

.https://www.law.cornell.edu/uscode/text/12/242

It's turning out this lady has lied, cheated and committed fraud most of her professional life.

Just the person you want working for the central bank and having a vote on interest rates.

lol...