Nonilex
@Nonilex@masto.ai  ·  activity timestamp 6 days ago
#GiftArticle

The #LisaCook Case Could Be the Whole Ball Game

If #SCOTUS lets #Trump replace Cook with a loyalist, he might soon achieve a full-blown takeover of the #FederalReserve.

Under the law, a president can fire a #Fed governor only “for cause.” To clear that bar, Trump has accused Cook of having made false statements on a mortgage application.

#law #economy #fascism #dictatorship #tyranny
https://www.theatlantic.com/economy/archive/2025/08/lisa-cook-federal-reserve/684013/?gift=guxsrl_dAdXUP9zqbQPWxURrjeonvxUycIW0r79pSro
Nonilex
@Nonilex@masto.ai replied  ·  activity timestamp 6 days ago
#LisaCook, who has NOT been charged with any crime, has promised to sue to keep her job. Her lawyers will likely argue, among other things, that the “for cause” standard requires proof that Cook has engaged in misconduct or poor performance related to her job as a #Fed governor, & that it does not permit the president’s lackeys to go digging through her personal history to gin up a pretext for termination.

#law#SCOTUS #economy#FederalReserve #fascism #dictatorship #tyranny
Nonilex
@Nonilex@masto.ai replied  ·  activity timestamp 6 days ago

But because no president before #Trump crossed this particular line, the vague standard has never been litigated. Ultimately, #SCOTUS will have to weigh in. Much more than Cook’s employment status hinges on its decision. If #Trump succeeds at firing her & replacing her with a loyalist, he could be just months away from a full-blown #takeover of the #FederalReserve.

#law#SCOTUS #economy#LisaCook #fascism #dictatorship #tyranny