Trump finds newest way to go after Lisa Cook with investigative ‘committee’ despite Supreme Court ruling

Trump finds newest way to go after Lisa Cook with investigative ‘committee’ despite Supreme Court ruling Fed governor’s attorneys have ‘grave doubts’ about legitimacy of White House investigation - Bookmark - CommentsGo to comments Become an Independent member to bookmark this article Already a member? Log in Donald Trump is once again taking aim at Lisa Cook after he failed to remove her from the Federal Reserve as part of his crusade against political enemies and attempts to wield more control over the economy. Months after losing a Supreme Court battle to fire her from the central bank, the president announced on Friday a “committee of inquiry” to investigate unproven allegations that Cook committed mortgage fraud. The committee will investigate whether Cook made “false statements in connection with one or more mortgage instruments,” according to a statement from the White House. Her attorneys Abbe Lowell and Norm Eisen said they have “grave doubts that this ‘hearing’ is a legitimate one that would conform to the law,” following the president’s “repeated statements that he has already decided to fire Governor Cook — regardless of the facts and evidence.” “But if it is anything close to objective, the conclusion will be that Governor Cook did not commit mortgage fraud, leaving no cause to remove her from the Federal Reserve Board,” they said in a statement shared with The Independent. Her attorneys have “engaged with the White House to evaluate whether the process proposed has a possibility of being a genuine one and not simply a box checking exercise,” they added. “Governor Cook welcomes the opportunity to present the facts so she can clear her name and demonstrate there is no legal basis to fire her,” they wrote. The meeting is scheduled for November 5, two days after Election Day. Cook has not been charged with or convicted of any wrongdoing. The president’s extraordinary pursuit to remove Cook from the Fed and force her to testify in a committee alleging criminal actions has escalated fears that Trump is compromising the independence of the central bank. Trump has repeatedly demanded that the Fed cut a key interest rate and installed a new chair, Kevin Warsh, in an apparent effort to pressure the board to do so. Last month, the Fed raised its rate instead. “As President, it is my job to ensure the laws are faithfully executed, including by firing subordinates who cannot be trusted to tell the truth and follow the law,” Trump wrote in Friday’s memorandum announcing the committee. The president demanded Cook’s resignation last August, citing unsubstantiated allegations of mortgage fraud against the first Black woman on the board. Writing on Truth Social, Trump said Cook “must resign now!!!” and shared an article about calls for the Department of Justice to investigate her mortgage application history, demanded by Bill Pulte, the head of the Federal Housing Finance Administration, who has mounted a campaign of fraud investigations against the president’s enemies. He claimed that Cooke “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.” In June, the Supreme Court ruled 5-4 that the president failed to give Cook adequate due process when he tried to remove her. In a statement following the Supreme Court’s decision, Cook said Trump’s attempt to oust her from the Fed “was never about mortgage documents signed years before I became a Federal Reserve governor.” “It was an attempt to remove me on a manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people,” she said. “That is the most fundamental obligation of a Federal Reserve governor. The high court’s ruling “affirms a principle that has underpinned sound economic stewardship for generations: that the Federal Reserve must make all its policy decisions guided by evidence and independent judgment, free from political interference,” she added. “This bedrock principle has guided the Federal Reserve since its founding.” Join our commenting forum Join thought-provoking conversations, follow other Independent readers and see their replies Comments [Image text:] RIGHT ABOUT WAS