Several different national political fires are currently burning as you read this — let’s have a chat sometime soon about the absolute state of the Department of Health and Human Services right now — so allow me to fan the flames of yet another one. You may be aware that Donald Trump has recently sought to fire Lisa Cook, who was appointed in 2022 by Joe Biden’s staff to a 14-year term on the Federal Reserve’s Board of Governors. Cook naturally disagrees with that decision and is fighting to retain her position.

The debate now rages: Does the president have the legal right to fire a Senate-confirmed appointee to an independent central bank like the Fed? Whether “for cause” or any other reason? Should such an institution as the Fed even properly exist under our Constitution?

I don’t care! They’re all important questions, but I’m primarily interested in the reason Donald Trump has cited for getting rid of Cook: allegations of mortgage fraud. They are fairly credible charges, to be fair; Cook is accused of treating a second home as her “primary” residence when purchasing it, thus receiving favorable interest rates from lenders as well as certain tax savings from the government. This adds up to real money over time, tens of thousands of dollars’ worth over the life of the mortgage.

Why are we finding out about this now? It’s all part of Trump’s war against the Federal Reserve and its chairman, Jerome Powell, who has failed to adjust interest rates to suit Trump’s tastes and tariffs. Trump’s federal housing director, a man named Bill Pulte, has thus taken it upon himself to use the investigative powers of his office to sleuth out potential violations from important people publicly disfavored by the administration. (“3 strikes and you’re out,” Pulte proudly tweeted after filing a third criminal referral against Cook this week.)

Motivations notwithstanding, I agree that Cook apparently engaged in the sort of sleazy behavior we should penalize in government officials and elected politicians alike; the idea of the federal banking system being regulated by tax cheats is appalling on its own terms. Since I also believe Cook to be unqualified for the position she holds — as an academic economist appointed as a token representational sop to The Groups — I’m happy to see Cook brought down for the sort of white-collar crime of privilege most Americans will never even have the opportunity to commit.

In fact, I think we should apply the standard across the board! The funny thing about setting “low-level mortgage fraud” as a bar for public office is that you never know who else may get caught up in the dragnet. It’s a far more common white-collar crime than you’d think. Why, a month ago the AP revealed that Texas attorney general and major Trump ally Ken Paxton — currently seeking to primary John Cornyn in the 2026 Senate race — claims not one, or two, but three primary residences himself! (One in Dallas and two in Austin.) Does anyone seriously think Ken Paxton should drop out of the race?

Well, yes, actually. Anyone familiar with Ken Paxton’s legendarily sordid public career and private life is of course completely unsurprised that he would lie on his mortgage application to secure better loan terms. This is a man who committed securities fraud, fought the charges for nearly a decade before accepting a plea deal, required his staff to hire one of his mistresses, and was forced to pay a major whistleblower settlement to staff he fired for complaining about it to HR. Of course he would also claim multiple primary residences to save money. (My single favorite joke about this mess was told to me by a Texas GOP veteran: “I don’t know why people are so unwilling to believe that Ken Paxton might have had three separate families.”)

If such crimes are good enough reason to oust Lisa Cook from her job for cause, surely they are sufficient reason for Donald Trump to deny Paxton his endorsement or aid in the upcoming primary. Let’s drain the swamp, Mr. President. Surely those so upset about Cook’s purported crimes are similarly up in arms about Paxton. I hope so, at least. But I have a feeling it will barely faze him in his primary. Our politics would be better off without either Lisa Cook or Ken Paxton, but I have a sinking feeling that one of them is about to be rewarded for the same sins the other will be destroyed for.