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Trump calls for Biden-appointed Fed Reserve Governor Lisa Cook to resign

Valletta

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essentialsaltes

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Trump tells Fed’s Lisa Cook she’s fired; she says ‘he has no authority to do so’

Cook, in a statement Monday, said, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”

Cook, who was appointed by former President Joe Biden, has hired the high-profile attorney Abbe Lowell to represent her. She has not been charged with any crime.

Lowell, in a statement, said, “President Trump has taken to social media to once again ‘fire by tweet’ and once again his reflex to bully is flawed and his demands lack any proper process, basis or legal authority.”

Congress curbed the president’s authority to unilaterally fire a Fed governor in the Federal Reserve Act of 1913, which states that the president can only do so “for cause.”

While the law does not elaborate on what constitutes “cause,” it has historically been understood to mean malfeasance or dereliction of duty.
 
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The Barbarian

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Pulte’s referral to the Justice Department was cited as the basis for Cook’s firing, which she is challenging with a lawsuit filed by her high-profile lawyer Abbe Lowell. The attorney has previously represented Ivanka Trump, Jared Kushner and Hunter Biden, among others. Under law, Fed board members only may be fired “for cause”.

On Tuesday, Lutnick reacted to the news that Cook was challenging her termination, telling CNBC: “The crook always says, 'I'm not going anywhere.'"

That remark followed Lutnick online, where it grew new life on X as the president’s critics, including Gov. Gavin Newsom of California, pointed out that Lutnick was directly quoting Trump himself.

“Donald Trump: ‘I’m not going anywhere,’” the post quoted the president, citing a Wall Street Journal article.

“They have zero self awareness,” noted one user in response. Numerous others wrote: “Irony is dead.”

“She has not been convicted of any crime. She has not even been CHARGED with any crime. You know who HAS been found liable of real estate fraud by a court of law? Donald Trump. Thank you for your attention to this matter,” snarked Seth Magaziner, a Democratic representative from Rhode Island.

 
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Pommer

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Trump tells Fed’s Lisa Cook she’s fired; she says ‘he has no authority to do so’

Cook, in a statement Monday, said, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”

Cook, who was appointed by former President Joe Biden, has hired the high-profile attorney Abbe Lowell to represent her. She has not been charged with any crime.

Lowell, in a statement, said, “President Trump has taken to social media to once again ‘fire by tweet’ and once again his reflex to bully is flawed and his demands lack any proper process, basis or legal authority.”

Congress curbed the president’s authority to unilaterally fire a Fed governor in the Federal Reserve Act of 1913, which states that the president can only do so “for cause.”

While the law does not elaborate on what constitutes “cause,” it has historically been understood to mean malfeasance or dereliction of duty.
“‘Cause I want to!” isn’t (probably) the type of “cause”, intended by Congress.
 
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wing2000

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Will this Congress step in to stop it?

...Cook indicated a lawsuit is in the works. Meanwhile, she continues to work.

Ultimately, the USSC will have to decide....but in the interim, will courts freeze the order to dismiss her?
 
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The Barbarian

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It's not that complex. Here's the argument:

Someone accused Cook of fraud.
Cook has an important position of trust in our government.
Someone in an important position in our government should not even be suspected of fraud.

You might call Trump a hypocrite in all this, but he could argue thusly:

1. Trump was convicted of fraud, not suspected.
2. Trump does not hold as important a position as Cook holds.
3. Being a convicted felon, Trump is not "suspected"; there is no doubt about his crime.

So he's not being a hypocrite. There's a different term for that kind of thinking.
 
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Valletta

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Trump tells Fed’s Lisa Cook she’s fired; she says ‘he has no authority to do so’

Cook, in a statement Monday, said, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”

Cook, who was appointed by former President Joe Biden, has hired the high-profile attorney Abbe Lowell to represent her. She has not been charged with any crime.

Lowell, in a statement, said, “President Trump has taken to social media to once again ‘fire by tweet’ and once again his reflex to bully is flawed and his demands lack any proper process, basis or legal authority.”

Congress curbed the president’s authority to unilaterally fire a Fed governor in the Federal Reserve Act of 1913, which states that the president can only do so “for cause.”

While the law does not elaborate on what constitutes “cause,” it has historically been understood to mean malfeasance or dereliction of duty.
Violations of law could certainly be included under "cause." In this case her job is in setting monetary policy, which includes interest rates. Unless she offers some defense it looks like she twice lied to get herself a better interest rate. Would you want an IRS commission who was caught for not filing his taxes for two years to continue on in his or her job? No more exemptions for crimes by Democrats, this two tiered justice system is going to be stop one way or another.
 
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essentialsaltes

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Violations of law could certainly be included under "cause." ... No more exemptions for crimes by Democrats, this two tiered justice system is going to be stop one way or another.
Crimes, what crimes? She hasn't been charged with anything.
 
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The Barbarian

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Would you want an IRS commission who was caught for not filing his taxes for two years to continue on in his or her job? No more exemptions for crimes by Democrats, this two tiered justice system is going to be stop one way or another.
I wouldn't want a president who was caught in numerous counts of fraud, either. But here we are. The difference is, she hasn't been tried and found guilty.

It seems to me that Donald Trump is attacking from a very exposed position.
 
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Valletta

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Crimes, what crimes? She hasn't been charged with anything.
She has a right to file an appeal in court to try and get back her job. If she does so there certainly will be a hearing where she can offer a defense.
 
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The Barbarian

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She has a right to file an appeal in court to try and get back her job.
Or the Fed could simply reject Trump's demand, and make him file the lawsuit.
 
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essentialsaltes

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She has a right to file an appeal in court to try and get back her job.
She has already sued over Trump's action. As yet, it's not clear whether she has lost her job.
But I see you have pivoted away from any alleged crimes.
 
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