October 18, 2025

Two sets of laws, citizen: If you check two Privilege Boxes, rules mean nuffin'

A month or so ago the director of the Federal Housing Finance Agency (Bill Pulte) made a *second* criminal referral against a female governor of the Federal Reserve Bank, Lisa Cook, based on evidence that she got a 15-year mortgage on yet a *third* property which she listed as her personal residence (a "second home"). 

But on an ethics form signed with the government Cook listed it as an "investment/rental property."

If true, why is this criminal and not simply a 'clerical error'?  Because saying the property will be the borrower's personal home allows a borrower to get a lower interest rate on the loan. 

This new criminal referral follows an initial referral Pulte made after Cook listed two properties as her 'primary residence' in 2021--same benefit on tax treatment and interest rate.

Trump fired her, saying it's bad when a governor of the agency that controls money cheats on loans.  And predictably, a federal judge blocked her firing. 

Interestingly, Cook has made angry statements saying the claims "lacked proof," "was possibly a clerical error," and that Trump fired her "because of my race" (Cook is black), and everything *except* deny that she made any false statements. 
 
Cook then sued Trump.  Among the excuses contained in the court filing for listing two properties as her primary residence was "a possible clerical error."

Yet during her 2023 senate confirmation hearing Cook described herself as having "significant experience in banking and finance, as is evidenced by my service on the board of directors of the Federal Reserve Bank of Chicago and of a Community Development Financial Institution in Michigan, in addition to my employment at an investment bank and a large commercial bank." 

So she claimed to be a banking expert, meaning she surely knew lying on mortgage applications is a crime. 

"I dindoo nuffin'!  No no no!  I jus' din' remember dat I'd declared two properties as my "primary residence, even after I rented out one of 'em.  It wuz jus' a 'clerical error.'  Yep yep yep!  An' dat fascist Orange Hitler cain't fire me fo' no 'clerical error'!  Cuz in dis country we don't have no Kings!" 

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