In yet another example of a supposed “public servant” getting caught in a corruption scheme involving mortgage fraud, President Donald Trump ousted Federal Reserve Governor Lisa Cook on Monday, August 25, exposing that she had been caught in a fraud scheme involving falsely claiming two residences as her primary residence so as to obtain a lower mortgage rate.
For reference, Cook is far from the only enemy of President Trump caught in suspected mortgage fraud as of late. Both New York Attorney General Letitia James and now-Senator Adam Schiff (D-CA) have been exposed as having falsely claimed houses as their primary residence despite living elsewhere, and are now facing potentially dire investigations.
President Trump, in any case, used the mortgage fraud corruption allegations as a bludgeon with which he threw Cook out of the Federal Reserve, articulating the fraud allegations and using it to explain that she was being removed from her postiion, as it is well within his authority as president to do.
Beginning the letter, the president commented on the charges she faces, saying, “As set forth in the Criminal Referral dated August 15, 2025, from Mr. William J. Pulte, Director of the Federal Housing Finance Agency, to Ms. Pamela Bondi, Attorney General of the United States…there is sufficient reason to believe you may have made false statements on one or more mortgage agreements.”
Continuing, the president’s letter articulated some of the specific examples of fraud. He wrote, “For example, as detailed in the Criminal Referral, you signed one document attesting that a property in Michigan would be your primary residence for the next year. Two weeks later, you signed another document for a property in Georgia stating that it would be your primary residence for the next year.”
He further explained that it was impossible that two houses could both be her primary residence, and thus that it appeared clear she was lying on the form and should be punished for it. He said, “It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both.”
Then, using that to justify why she is being removed from her position at the Federal Reserve, the president explained that he cannot have confidence in her and her integrity. He said, “In light of your deceitful and potentially criminal conduct in a financial matter, they cannot, and I do not have such confidence in your integrity.”
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Additionally, the president said, justifying his decision yet further, that her trustworthiness is suspect. He said, “At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator.”
Concluding, the president said that Cook was, thus, being removed from her position. Cook, however, refused to abide by his decision. Instead, she has started another fight over the president’s power by insisting he does not have the right to remove her. It appears he does have the right to remove her.
Watch the president comment on removing her here: