Removing Federal Reserve Governor Lisa Cook without an indictment is legally and politically difficult because no formal charges exist. Cook has not been charged with mortgage fraud. An indictment for mortgage fraud would provide clearer grounds for removal, but no indictment has been filed. Public threats and social media posts from the president may be intended to intimidate and pressure Cook to resign. Facing a potential Justice Department investigation without charges is professionally damaging and embarrassing. The absence of due process raises fairness concerns. Resignation based solely on an uncharged investigation is not warranted.
She hasn't been charged, Cramer said. So, until she's charged, I don't know why the president would go now unless he's really confident she will be charged, and I don't think he knows that. without her being charged, it's really difficult to fire her because you're just basically saying, Eh, since she may have committed fraud, I'm firing her.' In this case, the president I guess is judge and jury, Faber added.
I do think that we have to go back to what common sense says which is if you've been indicted for mortgage fraud, you shouldn't serve, Cramer said. But she hasn't been indicted for mortgage fraud, so why should she step down on the possibility that she's being investigated? No, she shouldn't step down. Cramer went on to say Trump might be trying to force Cook out with his threats on social media.
Collection
[
|
...
]