<!–> [–><!–> –><!–> [!–> <!–> –><!–> [–><!–>In its place are four pickleball courts, attached to what is now called the Santa Monica Pickleball Center.–><!–> –><!–> [–><!–> –><!–> [!–> <!–> –><!–> [–><!–> –><!–> [–><!–> –><!–> [!–> <!–> –><!–> [–><!–> –><!–> [–><!–> –><!–> [–> <!–> –><!–> [–><!–>Our analysis is not comprehensive: By trade group estimates, there are […] More
Today, we bring you another focus challenge, in which we invite you to spend uninterrupted time looking at one piece of art. This painting, by the Impressionist master Claude Monet, takes us to Venice in 1908, in front of the Palazzo Ducale — “The Doge’s Palace.” (These challenges are published on the first Monday of […] More
Sources and notes <!–> [–><!–>Tracking map Tracking data is from the National Hurricane Center. The map shows probabilities of at least 5 percent. The forecast is for up to five days, with that time span starting up to three hours before the reported time that the storm reaches its latest location. Wind speed probability data […] More
Case: 25-1812 Document: 159
Page: 69
Filed: 08/29/2025
V.O.S. SELECTIONS, INC. v. TRUMP
9
related actions in two categories—one focused on money or its financial substitutes (subsection A) and the other on property (subsection B). War Powers Act of 1941, § 301, 55 Stat. at 839-40 (amending section 5(b) of TWEA). Under TWEA, the President may
(A) investigate, regulate, or prohibit, any transac- tions in foreign exchange, transfers of credit or pay- ments between, by, through, or to any banking institution, and the importing, exporting, hoard- ing, melting, or earmarking of gold or silver coin or bullion, currency or securities, and
(B) investigate, regulate, direct and compel, nul- lify, void, prevent or prohibit, any acquisition hold- ing, withholding, use, transfer, withdrawal, transportation, importation or exportation of, or dealing in, or exercising any right, power, or privi- lege with respect to, or transactions involving, any property in which any foreign country or a national thereof has any interest ….
TWEA § 5(b) [50 U.S.C.§ 4305(b)(1)]. That language has been part of TWEA ever since. See Regan v. Wald, 468 U.S. at 226 n.2, 227 n.7; 50 U.S.C.App. § 5(b) (1976 ed.); 50 U.S.C. § 4305(b)(1) (current version).
In 1976, Congress enacted the NEA. §§ 101, 201–202, 301, 401, 501-02, 90 Stat. at 1255-59, now codified as amended at 50 U.S.C. §§ 1601, 1621–22, 1631, 1641, 1651. The NEA, where applicable, generally terminated preexist- ing declarations of emergency, NEA § 101, 50 U.S.C. § 1601, and established new constraints on new declara- tions, NEA §§ 201–202, 301, 401, 50 U.S.C. §§ 1621–22, 1631, 1641. One provision governing national emergencies declared under the NEA requires automatic termination of the declared emergency after one year unless renewed by the President. NEA § 202(d), 50 U.S.C. § 1622(d). Another provision, as enacted, allowed both for presidential termi- nation by proclamation and for congressional termination More
Federal Housing Finance Agency Director Pulte’s Criminal Referral
39. The Director of the Federal Housing Finance Agency, William Pulte, was confirmed to his role in March 2025. The FHFA’s stated mission is to “ensure the regulated entities fulfill their mission by operating in a safe and sound manner to serve as a reliable source of liquidity and funding for the housing finance market throughout the economic cycle.”
15
40. Since his confirmation, Director Pulte, often through social media postings, has used his office to allege mortgage wrongdoing against public officials, now turning his sights on Governor Cook. Each of Director Pulte’s criminal referrals have notably been, at one time or another, political targets of President Trump’s ire prior to any mortgage fraud allegations.
41. Director Pulte has also parroted President Trump’s criticisms of the Federal Reserve. On June 18, 2025, Director Pulte posted on X that Chairman Powell “is hurting the housing market by being Too Late to lower rates. He needs to resign, effective immediately.”
“16
42. On July 16, 2025, Director Pulte reportedly gave President Trump a draft of a letter firing Chairman Powell. 17 That same day, Director Pulte posted on X that renovations to the building that houses the Federal Reserve are “riddled” with fraud, 18 and President Trump stated that Chairman Powell may be fired for fraud, noting that “I mean it’s possible there’s fraud involved with the $2.5 billion renovation.”
“19
16
18,
15 U.S. Federal Housing, FHFA At-A-Glance, www.fhfa.gov/about (last visited Aug. 27, 2025). Bill Pulte (@pulte), Χ (June 2025, 2:40 PM) https://x.com/pulte/status/1935407350556561775.
17 Maggie Haberman and Colby Smith, Trump Has Draft of Letter to Fire Fed Chair. He Asked Republicans if He Should Send It., N.Y. Times (July 16, 2025),
18
Bill
Pulte (@pulte),
X (July 16, 2025,
https://x.com/pulte/status/1945562005777293795.
19
3:11
PM),
Bloomberg Podcasts, Trump Says Firing Powell ‘Unlikely’ (Full Q&A), YouTube (July 16, 2025), https://www.youtube.com/watch?v=Ib-OCc31Wfs.
13 More
<!–> –><!–> [–><!–> –> <!–> –><!–> [–><!–> –> <!–> –><!–> [–><!–>Mr. Trump has made no secret of his desire to reshape the top ranks of the Fed, repeatedly lashing out at Mr. Powell and his colleagues for keeping interest rates too high.–><!–> –><!–> [–><!–>Mr. Trump’s first opportunity to remake the Fed roster came sooner than […] More
THE WHITE HOUSE
WASHINGTON
August 25, 2025
Dr. Lisa D. Cook
Member
Board of Governors
United States Federal Reserve System
20th Street & Constitution Avenue, N.W. Washington, D.C. 20551
Dear Governor Cook:
Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately.
The Federal Reserve Act provides that you may be removed, at my discretion, for cause. See 12 U.S.C. § 242. I have determined that there is sufficient cause to remove you from your position.
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 (“Criminal Referral”) (attached to this letter as Exhibit A), there is sufficient reason to believe you may have made false statements on one or more mortgage agreements. 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. 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.
The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks. The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve. 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. 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. More
Welcome to Lit Trivia, the Book Review’s regular quiz about books, authors and literary culture. This week’s installment celebrates novels written about or during America’s Gilded Age era, which many scholars roughly peg between the end of the Civil War in 1865 and the early years of the 20th century. In the five multiple-choice questions below, tap or click on the answer you think is correct. After the last question, you’ll find links to the books. More
