Fraud, especially mortgage fraud, isn’t a problem when you are a Democrat. Yes, I’m talking about Federal Reserve Governor Lisa Cook. In this instance, Democrats and the media have been leaping to her defense. It’s only a teeny tiny bit of mortgage fraud, so she should get a free pass.

Let’s start with Washington Post’s Megan McArdle.

A recurring theme of this column — perhaps the most unpopular theme — is that the optimal amount of fraud in a system is not zero. I’ve been thinking about that theme as the drama surrounding Federal Reserve governor Lisa Cook has unfolded.

Before you get mad, let me explain that I’m not talking about the ideal amount of fraud, which is definitely zero. But cheaters abound in this vale of tears, and it’s often cheaper to tolerate some small amount of grift than to make the maximum effort to stop all of it. That’s why your employer doesn’t take every possible step to ensure that you’re not taking office supplies home, and why most retailers (until recently) left goods on open shelves instead of putting the razors and Tide pods in locked display cases.

Oh, there’s more. Which I’ll get into in a minute. Fraud at any level, by any measure, is bad. Period. But here’s Megan informing us that small amounts of fraud or grift should be accepted. Those locked up grocery and pharmacy shelves are due to rampant theft that our liberal betters refuse to stop or prosecute if a thief is arrested. 

As I wrote the other day, it was discovered that Lisa Cook put up two separate loans regarding two different houses in different parts of the country. These loans were issued two weeks apart. Both homes were designated as her primary residences. 

That’s called mortgage fraud. And, she failed to disclose this during her confirmation process. Which calls her ethics into question. 

Notably, in her lawsuit, Lisa Cook didn’t acknowledge the issues nor deny that she did anything wrong. 

Yet, according to the media and Democrats, it was only a little bit of mortgage fraud. Nothing to see here, move along! 

Except two days ago we find out there’s a THIRD home. 

3 strikes and you’re out.

Today, U.S. Federal Housing sent a 2nd Criminal Referral in the matter of Lisa D. Cook, related to a mortgage on a 3rd property and alleged misrepresentations about her properties to the United States Government during her time as Governor of the… pic.twitter.com/TAH68Mia23

— Pulte (@pulte) August 29, 2025

The rest reads:

of the Federal Reserve. On April 7, 2021, Cook entered a 15-year mortgage for a condominium in Cambridge, MA, representing it as her “Second Home”. Only eight months later, on December 1, 2021, Cook signed an ethics form with the U.S. Government that this property was an “investment/rental property”. In subsequent filings from 2022 to 2025, Cook consistently listed this property as an investment/rental property, not a second home. Representing the property as a second home may have allowed Cook to secure a lower “Second Home” mortgage down payment and rates, as investment properties typically carry higher down payments and higher rates due to increased risk. Additionally, Cook allegedly misrepresented her Atlanta, GA property from 2022-2025 to the U.S. Government as her residence, despite evidence suggesting it was being rented out to tenants. Similarly, Cook declared in a 2025 government filing that her Ann Arbor, MI property was her personal residence, however, we have reason to believe that as of 2025, the Ann Arbor property is being used as a rental property, not a personal residence. These inconsistencies appear Cook made additional, multiple false representations, including to the U.S. Government, regarding the status of her mortgages and properties.

Yes, I’d say that’s a fraud and ethics problem. Unless you are a liberal Democrat that is. Then it’s ok to make excuses and blame Trump. 

President Trump has found a new weapon of choice in his retribution campaign against his foes: mortgage fraud claims.

At least three prominent Trump adversaries have been targeted with Justice Department probes into their personal real estate dealings.

The president most recently pointed to allegations against Federal Reserve board of governors member Lisa Cook to justify his effort to fire her. She has already challenged the move in court as “unprecedented and illegal.”

New York Attorney General Letitia James (D) and Sen. Adam Schiff (D-Calif.) face investigations tied to their mortgage records, as well.

The mortgage fraud claims originated with the Federal Housing Finance Agency (FHFA), whose director, Bill Pulte, filed criminal referrals suggesting they may have illegally designated multiple homes as primary residences for lower interest rates and favorable loan terms.

I mean, how DARE HE??!! Never mind that it was entirely right and proper that the legal system would be weaponized against President Trump and his allies/supporters. We aren’t allowed to hold any Democrat accountable for using the system to their advantage, even if they are breaking the law. 

Also, Reuters has chimed in with the same. Lisa Cook is done. pic.twitter.com/0zuWj0Awmg

— Savannah (@BasedSavannah) August 30, 2025

It’s no big deal you see. It’s just a little itty bit of a mistake. A hearing was held yesterday regarding her firing. 

The judge has yet to rule on the case. Meanwhile, even as many in the media are running to her aid, CNN admitted there’s a problem. 

https://twitter.com/EricLDaugh/status/1961881522245398592

As her supporters try to spin, here’s another question for Lisa Cook. How was she able to afford three mortgages and do so in such a short period of time? 

Fraud is fraud. Period. Those trying to pass it off as no big deal would be screaming to the high heavens if a Republican did the same thing. 

Feature Photo Credit: mortgage fraud gavel via iStock, cropped and modified