SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Lisa Cook, governor of the US Federal Reserve, arrives during the Federal Reserve Board open meeting on March 19, 2026 in Washington, DC.
(Photo by Al Drago/Getty Images)
'Illegitimate Show Trial': Warren Condemns Trump's Latest Attack on Fed Gov. Lisa Cook
Sen. Elizabeth Warren said President Donald Trump's formation of a committee to investigate cook is part of his "dangerous quest to illegally take over our nation’s central bank."
Oct 09, 2026
Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, said Friday that President Donald Trump's formation of a new committee to investigate Federal Reserve Gov. Lisa Cook amounts to "an illegitimate show trial in his dangerous quest to illegally take over our nation’s central bank."
"Instead of playing judge in a kangaroo court of his own making, Trump should end the war in Iran and cancel his chaotic tariffs," Warren (D-Mass.) said after the White House announced a "committee of inquiry" to investigate allegations that Cook "made false statements in connection with one or more mortgage instruments." Cook, a frequent target of the president's, has denied the White House's repeated accusations that she committed mortgage fraud.
The White House said that the new committee—which will consist of three officials including Trump economic adviser Kevin Hassett and the Trump-appointed acting director of the Office of Government Ethics—will hold an in-person hearing at the White House on November 5 to "consider the evidence and allegations against Gov. Cook."
In a Friday statement, Cook's lawyers said they "have grave doubts that this 'hearing' is a legitimate one that would conform to the law."
"If it is anything close to objective, the conclusion will be that Gov. Cook did not commit mortgage fraud," said Abbe Lowell and Norm Eisen. "We have engaged with the White House to evaluate whether the process proposed has a possibility of being a genuine one and not simply a box-checking exercise."
Trump attempted to fire Cook last year but was rebuffed by the US Supreme Court after the Fed governor took legal action to prevent her removal. Under federal law, the president can only remove members of the Fed Board of Governors "for cause."
Critics argue that the Trump administration has concocted baseless mortgage fraud allegations against Cook to justify a politically motivated termination.
"Trump is escalating his smear campaign against Lisa Cook while turning the presidency into a personal ATM: crypto schemes, taxpayer-funded propaganda ads, cash for his family—the list could go on forever," Senate Minority Leader Chuck Schumer (D-NY) said Friday. "This has nothing to do with 'ethical concerns.' It’s about Trump trying to seize control of the Fed, something that would mean even more economic chaos for American families."
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, It’s been nearly 30 years since I co-founded Common Dreams with my late wife, Lina Newhouser. We had the radical notion that journalism should serve the public good, not corporate profits. It was clear to us from the outset what it would take to build such a project. No paid advertisements. No corporate sponsors. No millionaire publisher telling us what to think or do. Many people said we wouldn't last a year, but we proved those doubters wrong. Together with a tremendous team of journalists and dedicated staff, we built an independent media outlet free from the constraints of profits and corporate control. Our mission has always been simple: To inform. To inspire. To ignite change for the common good. Building Common Dreams was not easy. Our survival was never guaranteed. When you take on the most powerful forces—Wall Street greed, fossil fuel industry destruction, Big Tech lobbyists, and uber-rich oligarchs who have spent billions upon billions rigging the economy and democracy in their favor—the only bulwark you have is supporters who believe in your work. But here’s the urgent message from me today. It's never been this bad out there. And it's never been this hard to keep us going. At the very moment Common Dreams is most needed, the threats we face are intensifying. We need your support now more than ever. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. When everyone does the little they can afford, we are strong. But if that support retreats or dries up, so do we. Will you donate now to make sure Common Dreams not only survives but thrives? —Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, said Friday that President Donald Trump's formation of a new committee to investigate Federal Reserve Gov. Lisa Cook amounts to "an illegitimate show trial in his dangerous quest to illegally take over our nation’s central bank."
"Instead of playing judge in a kangaroo court of his own making, Trump should end the war in Iran and cancel his chaotic tariffs," Warren (D-Mass.) said after the White House announced a "committee of inquiry" to investigate allegations that Cook "made false statements in connection with one or more mortgage instruments." Cook, a frequent target of the president's, has denied the White House's repeated accusations that she committed mortgage fraud.
The White House said that the new committee—which will consist of three officials including Trump economic adviser Kevin Hassett and the Trump-appointed acting director of the Office of Government Ethics—will hold an in-person hearing at the White House on November 5 to "consider the evidence and allegations against Gov. Cook."
In a Friday statement, Cook's lawyers said they "have grave doubts that this 'hearing' is a legitimate one that would conform to the law."
"If it is anything close to objective, the conclusion will be that Gov. Cook did not commit mortgage fraud," said Abbe Lowell and Norm Eisen. "We have engaged with the White House to evaluate whether the process proposed has a possibility of being a genuine one and not simply a box-checking exercise."
Trump attempted to fire Cook last year but was rebuffed by the US Supreme Court after the Fed governor took legal action to prevent her removal. Under federal law, the president can only remove members of the Fed Board of Governors "for cause."
Critics argue that the Trump administration has concocted baseless mortgage fraud allegations against Cook to justify a politically motivated termination.
"Trump is escalating his smear campaign against Lisa Cook while turning the presidency into a personal ATM: crypto schemes, taxpayer-funded propaganda ads, cash for his family—the list could go on forever," Senate Minority Leader Chuck Schumer (D-NY) said Friday. "This has nothing to do with 'ethical concerns.' It’s about Trump trying to seize control of the Fed, something that would mean even more economic chaos for American families."
Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, said Friday that President Donald Trump's formation of a new committee to investigate Federal Reserve Gov. Lisa Cook amounts to "an illegitimate show trial in his dangerous quest to illegally take over our nation’s central bank."
"Instead of playing judge in a kangaroo court of his own making, Trump should end the war in Iran and cancel his chaotic tariffs," Warren (D-Mass.) said after the White House announced a "committee of inquiry" to investigate allegations that Cook "made false statements in connection with one or more mortgage instruments." Cook, a frequent target of the president's, has denied the White House's repeated accusations that she committed mortgage fraud.
The White House said that the new committee—which will consist of three officials including Trump economic adviser Kevin Hassett and the Trump-appointed acting director of the Office of Government Ethics—will hold an in-person hearing at the White House on November 5 to "consider the evidence and allegations against Gov. Cook."
In a Friday statement, Cook's lawyers said they "have grave doubts that this 'hearing' is a legitimate one that would conform to the law."
"If it is anything close to objective, the conclusion will be that Gov. Cook did not commit mortgage fraud," said Abbe Lowell and Norm Eisen. "We have engaged with the White House to evaluate whether the process proposed has a possibility of being a genuine one and not simply a box-checking exercise."
Trump attempted to fire Cook last year but was rebuffed by the US Supreme Court after the Fed governor took legal action to prevent her removal. Under federal law, the president can only remove members of the Fed Board of Governors "for cause."
Critics argue that the Trump administration has concocted baseless mortgage fraud allegations against Cook to justify a politically motivated termination.
"Trump is escalating his smear campaign against Lisa Cook while turning the presidency into a personal ATM: crypto schemes, taxpayer-funded propaganda ads, cash for his family—the list could go on forever," Senate Minority Leader Chuck Schumer (D-NY) said Friday. "This has nothing to do with 'ethical concerns.' It’s about Trump trying to seize control of the Fed, something that would mean even more economic chaos for American families."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.
To inform. To inspire. To ignite change for the common good.
News & Opinion
Trending
Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit
Privacy Policy