It must be contagious. They told you to trust the experts. Did they mean like a California disgraced U.S. senator nicknamed “Shifty” and now a Fed governor.
Fed Chair Powell as noted did nothing during the Silicon Valley fiasco and before that on his watch he had more than one Fed member including the then Vice Chair front run the public in the stock market.
For you and me that’s illegal.
None were punished, just paid the money back and quietly slipped out the door to live happily ever after. So despite his incompetence he proved to be a weak leader, turning his head in two cases where actual crimes were most likely committed.
It’s old and shopworn but still very much true. If this were a Republican appointment by a Republican president all hell would be breaking loose.
“Update (1730ET): It took all day but Fed Governor Lisa Cook finally offered a response to allegations that she committed mortgage fraud (in order to get better rates, ironically!). Of course, she played the victim card immediately and offered up future 'facts'...
“I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” Cook said in a statement.
“I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts.”
One quick question... did you break the law or not?
Bill Pulte was quick to respond to the governor's statement:
We look forward to seeing the PolyMarket trade on the over/under for her resignation.
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The director of the Federal Housing Finance Agency is urging Attorney General Pam Bondi to investigate Federal Reserve Governor Lisa Cook over a pair of mortgages, the latest in a series of moves by the Trump administration to increase legal scrutiny of Democratic figures and appointees.
FHFA Director Bill Pulte wrote a letter to Bondi and DOJ official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense. The letter alleges that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”
Bloomberg reports that Pulte said Cook took a mortgage on a property in Ann Arbor, Michigan, signing a mortgage agreement that stipulated she would use the property as her primary residence for at least a year.
“Two weeks later, according to the letter, she took another mortgage on a Georgia property and also declared it would be her primary residence.
“Pulte also called on Bondi to look into whether Cook misrepresented her circumstances by later listing the Georgia property for rental.” More