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Governor Grapple
Trump fires a Fed governor for the first time — and she’s suing to stay put
Splits and Caps Daily: Action for Agents
August 27, 2025
📈 Market Move:
Policy Powerplay
Trump just tried something no president has done before: he fired a Fed governor. Lisa Cook, accused of mortgage fraud, says “nah, I’m not going anywhere” and is lawyering up to sue her way back in.
Here’s the drama:
Trump posted Cook’s pink slip on social media (very on-brand).
Cook’s lawyer clapped back: the firing “has no factual or legal basis.”
Legal nerds say the move is shaky—governors can only be removed “for cause,” and Cook hasn’t even been charged with anything.
Big picture: This isn’t just about mortgage paperwork — it’s about who really calls the shots at the Fed.
If Cook wins, she keeps her seat until 2038. If Trump wins, it sets a precedent that presidents can fire Fed governors mid-term.
Either way: Fed independence just went from “Econ textbook footnote” to “live-action drama with real impact on mortgage rates.”
🌟Quote of the Day:
“You don’t need to have it all figured out to move forward.” — Courtney Carver
⚡ Quick Win:
Reverse To-Do – End the day writing what you actually got done. Feels better than staring at an untouched list.
🎉 Fun Fact of the Day:
Piece of the Pie: 🍕 A Domino’s in Texas once sold its rooftop as billboard space to pay rent. Creative cash flow, anyone?
📚 Book Recommendation:
“The Voltage Effect” by John A. List — Most business books are like fireworks: they look great in the moment, but fizzle out before you even finish your coffee. This one’s different.
John List is an economist who basically asks: Why do some ideas scale like Uber, while others crash like your cousin’s MLM? He breaks it down into the hidden “voltage leaks” that kill ideas before they can grow — things like bad assumptions, ignoring incentives, or forgetting that humans are messy.
The gold nugget: it’s not about having a good idea. It’s about having an idea that survives the messy reality of the world once it leaves your brain and enters the market.
If you’re an agent, broker, or builder of anything: read this. It’s like a manual for spotting which of your ideas are worth pouring fuel on… and which ones will quietly electrocute your time and wallet.
Stack enough small wins and suddenly you look unstoppable.
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