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Trump Appointed Top Fed Official Resigning Early After ‘Ethically Questionable’ COVID Transactions of Up to $5 Million

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A top Federal Reserve official is retiring early after scrutiny over COVID-timed trades of between $1 million and $5 million, made just one day before a February 2020 statement on the coronavirus pandemic by Chairman Jerome Powell.

Vice Chair Richard Clarida was appointed to the Federal Reserve position in 2018 by then-President Donald Trump.

In October of 2021 U.S. Senator Elizabeth Warren called the transactions “ethically questionable” and demanded an investigation.

The New York Times reported last week “that Mr. Clarida had corrected his 2020 financial disclosures in late December in a way that ethics professionals said raised questions about one of his trades.”

“The transaction drew an outcry from lawmakers and watchdog groups because it put Mr. Clarida in a position to benefit as the Fed restored market confidence,” The Times noted. “Mr. Clarida’s recently amended financial disclosure showed that the vice chair sold that same stock fund on Feb. 24, at a moment when financial markets were plunging amid fears of the virus.”

Clarida is just one of countless Trump administration officials who have been credibly accused of ethically questionable actions. The scope is so vast there is no single list of all the known ethics scandals committed by the former president and members of his administration or others appointed by the 45th president.

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BREAKING NEWS

Trump Asks Supreme Court to Intervene for Him in Classified Documents Case

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Donald Trump on Tuesday petitioned the U.S. Supreme Court to intervene in his classified documents case, and reverse a ruling from the 11th Circuit Court of Appeals that allowed the U.S. Dept. of Justice access to the more than 100 classified and top secret documents federal agents recovered from his Mar-a-Lago residence and resort.

Trump is asking the nation’s highest court to order a special master to continue to inspect the 103 classified documents, despite the special master emphatically stating the government, not Trump, gets to decide what is classified and what is not, especially when Trump refused to provide a list of what he considered declassified.

The lawsuit, which is a massive 240 pages, mostly made up of other documents including the now infamous FBI photo of the classified documents on the Mar-a-Lago rug, is addressed to “The Honorable Clarence Thomas, Circuit Justice for the Eleventh Circuit,” and refers to the former president as “President Trump.”

The lawsuit also mentions the contents that federal agents took, including “89 empty envelopes,” while not noting they were classified document envelopes.

“As part of the 11th Circuit’s decision, the panel allowed the criminal investigation to use the seized documents, something [Judge] Cannon had previously barred,” The Washington Post notes. “Trump’s filing seeks only to reverse the appeals court’s ruling on the special master’s access to the documents, not the part of the decision concerning the investigation.”

This is a breaking news and developing story. Details may change. 

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BREAKING NEWS

‘No Shame’: Trump Judge Overrules Special Master – Stuns Legal Experts

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U.S. District Judge Aileen Cannon on Thursday overruled the special master Donald Trump’s legal team chose and she installed, deciding to change the deadlines he set, delaying the case and DOJ’s work for months, and overruling his decisions.

Specifically, Judge Cannon ruled Trump and his attorneys do not have to make any statements to support the former president’s baseless claims that the FBI “planted” documents or other evidence.

“Judge Cannon overrules the order by her special master that would have forced Trump’s lawyers to lodge objections to the accuracy of the DOJ’s inventory, effectively forcing him to prove his ‘planting claims,'” Law & Crime managing editor Adam Klasfeld reports. “Trump doesn’t need to do that any more, she rules.”

READ MORE: ‘Pure Essence of Judicial Corruption’: Morning Joe Panelists ‘Stunned’ by Cannon’s Ruling on Classified Docs

“Upon review of the matter,” Cannon writes in her order Thursday, “the Court determines as follows. There shall be no separate requirement on Plaintiff [Trump] at this stage, prior to the review of any of the Seized Materials, to lodge ex ante final objections to the accuracy of Defendant’s Inventory, its descriptions, or its contents. The Court’s Appointment Order did not contemplate that obligation.”

Legal experts are stunned by Cannon’s latest move.

The Nation’s justice correspondent Elie Mystal writes: “Trump Judge Cannon trying to preserve the white wing talking point without forcing Trump to prove it. She’s in too deep now. She has to ride Trump all the way and hope he wins and promotes her.”

Civil liberties and national security journalist Marcy Wheeler says, “Judge Cannon unilaterally rewrites HER OWN deadlines to make sure that her Trumpy doesn’t have to commit until after the election. Holy hell this woman has no shame.”

READ MORE: In Scathing Rebuke DOJ Wins Stay of Trump Judge’s Ruling in National Security Appeal Over Classified Documents

Over at her site, Wheeler expands her thoughts.

“Aileen Cannon, without explaining why she was intervening, just rewrote Judge Raymond Dearie’s work plans regarding the Special Master review,” Wheeler says, calling it “an obvious power grab to ensure her own intervention doesn’t backfire on Trump.”

“With no justification (particularly given the way Dearie has ceded to multiple issues Trump has raised), and after having been scolded by the 11th Circuit for her improper claims of jurisdiction, she effectively just eliminated any claim that the Special Master Trump picked and she appointed is a neutral observer.”

“Cannon is shamelessly acting as Trump’s defense attorney. If you are a reporter, that’s what your story is. If you’re not a reporter, that’s also what your story is,” she warns. “At the very least fact check this woman.”

READ MORE: ‘Tarnished Image’: Gallup Releases Devastating SCOTUS Poll – as Conservative Justices Snipe at Kagan’s Warning

Slate senior writer Mark Joseph Stern, who has authored a book on the Supreme Court, says, “Cannon was shameless enough to overrule the special master, because she is not a real judge.

Former General Counsel of the Federal Bureau of Investigation (FBI) and well-known MSNBC legal analyst Andrew Weissmann calls Cannon “a disgrace.”

“Oy- Judge Cannon tinkers badly with (and with typos) Judge Dearie’s scheduling order, relieving Trump of obligation to say whether docs were planted, even though she had wanted a clear inventory of what was found. She is such a disgrace.”

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BREAKING NEWS

Highly-Anticipated J6 Committee Hearing Likely Postponed

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Wednesday’s highly-anticipated hearing of the U.S. House Select Committee on the January 6 Attack, the first one since July, and possibly the final publicly-televised event, will likely be postponed due to Hurricane Ian which is ravaging Florida.

The Washington Post’s Jacqueline Alemany and Josh Dawsey were the first to report the postponement. MSNBC has confirmed the likely postponement.

No new date has been scheduled yet.

This is a breaking news and developing story. Details may change.

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