We will hear argument this morning in case 25A312, Trump versus Cook. General Sauer.

Mr. Chief Justice, the negligence by a financial regulator in financial transactions is cause for removal.

In a two-week period in 2021, Lisa Cook submitted mortgage applications

for two properties in Michigan and Georgia. In both, she told the lender that within 60 days,

she would occupy that property for one year as her principal residence. As President Trump stated in removing her,

it is inconceivable that she was unaware of the first commitment when making the second,

and it is impossible that she intended to honor both. Such behavior impugns Cook's conduct,

fitness, ability, or competence to serve as a governor of the Federal Reserve.

The American people should not have their interest rates determined by someone who was, at best, grossly negligent in obtaining favorable interest rates for herself.

Cook's conception of cause contradicts the term's longstanding meaning and overrides Congress's

deliberate decision not to impose the inefficiency neglect or malfeasance standard here.

Her claim that she has a property interest in her public office was roundly rejected by the

founding generation as pernicious in a Republican system of government.

Her claim that the statute grants her notice in a hearing contradicts this court's cases

requiring very clear and explicit language to restrict the president's removal power.

And any such process would be futile because for months, she has never personally disputed the substantial truth of the material in question.

Finally, the remedy she obtained, a preliminary injunction countermanding the President's decision and reinstating her to office

violates long-standing principles of equity and was conspicuously non-existent in our

nation's history from 1789 until 2025.

I welcome the Court's questions.

General Sauer, this isn't central to the case, but it is an antecedent point.

On what basis are we to conclude that the Federal Reserve is an executive branch agency,

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