No.
Let’s delve a bit deeper into this. The conservative majority of the Supreme Court has recently taken the initiative to establish a groundbreaking legal precedent that specifically excludes the Federal Reserve Bank from Donald Trump‘s claim of unrestrained authority to terminate officials from statutorily independent agencies. This decision appears to stem from their fundamentally principled reasoning that they wished to safeguard their investment portfolios from potential losses. In light of this, Trump has enlisted William Pulte, a housing official, to meticulously scrutinize lending documents, ostensibly using this as a pretext to target government officials he disapproves of with baseless accusations of mortgage fraud.
It is crucial to highlight that Donald Trump stands out in this narrative as the only individual who has unequivocally misled lenders regarding the valuations of his real estate properties.
Trump’s efforts to pursue mortgage fraud claims against New York Attorney General Tish James are faltering. Consequently, he has redirected his focus to another prominent Black woman, Fed governor Lisa Cook. In his letter where he claims to terminate her employment, he asserts that the mere accusation of mortgage fraud—which he himself is making—gives him the justification to dismiss her “for cause.” The assertion that she designated a property as her primary residence, which may not have ultimately been her primary residence, does not even begin to address the relevant criteria of her official misconduct or inability to fulfill her role effectively; furthermore, we need not even consider this point as she has not been indicted for any crime, let alone convicted.
Any news outlet that describes Trump as having “fired” Cook rather than “claiming,” “purporting,” or “delusionally pretending” to terminate her employment is failing to accurately represent the situation.
Cook has engaged Abbe Lowell as her legal counsel. Should Trump wish to proceed with her removal, he will require the Supreme Court to endorse his erratic rationale. While this could be a possibility, the recent downturn in stock prices during after-hours trading may lead the court to reconsider their stance on this matter.
Joe Patrice serves as a senior editor at Above the Law and is a co-host of the podcast Thinking Like A Lawyer. For tips, questions, or comments, reach out via email. You can also follow him on Twitter or Bluesky for insights on law, politics, and a balanced mix of college sports news. Additionally, Joe holds the position of Managing Director at RPN Executive Search.
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