Hell hath frozen over! A CNN legal analyst conceded President Donald Trump may have a legitimate case for firing Federal Reserve Governor Lisa Cook over mortgage fraud allegations — are pigs flying too?
CNN senior legal analyst Elie Honig turned heads on the August 29 edition of The Arena when he actually upended the media meltdown over Trump’s act supposedly being illegal. Honig noted that “there is some suspicious activity here that’s really problematic by Lisa Cook.”
Cook has been accused of falsifying bank records in order to secure more favorable loan terms. Honig, concurred, noting that “[n]ow, why would someone do all this? Because you get better interest rates. Because you get better tax benefits. That can be worth tens or hundreds of thousands of dollars.”
In his estimation, Honig concluded that “the allegations on their face could be enough for a judge to say, ‘Look, I'm going to defer to the president on cause.’”
You know something's up anytime you get an analyst from the TDS-afflicted CNN to agree with Trump on anything.
Section 10 of the Federal Reserve Act, gives the President power to fire Fed governors if “cause” was shown. Specifically, it stipulates that “thereafter each member [of the Board of Governors] shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.”
No Trump supporter in his own right, National Review’s Andrew McCarthy admited in an August 26 piece that the President is technically “adhering to Congress’s rules for the Federal Reserve” by claiming cause as the basis for Cook’s firing, “regardless of whether his motives are pure.”
