|

GAO Finds Trump's Actions Illegal as Impeachment Trial Begins

fxsoriginal

A nonpartisan Congressional watchdog says Trump acted illegally on Ukraine. This is the heart of the impeachment trial.

The Trump Impeachment Trial is now underway. This is only the third such occurrence in US history.

Shortly after 2 p.m., Chief Justice John Roberts, who is presiding, was escorted into the Senate by Sens. Lindsey Graham (R., S.C.), Roy Blunt (R., Mo.), Dianne Feinstein (D., Calif.) and Patrick Leahy (D., Vt.).

Everyone in the chamber rose to their feet, including members of the public and press who looked on from the balconies. The only sound was the scratching of reporters’ pens. Then Chief Justice Roberts spoke.

“Senators, I attend the Senate in conformity with your notice for the purpose of joining with you for the trial of the President of the United States. I am now prepared to take the oath.”

Senators were then called in alphabetical order to the Senate clerk’s desk to sign their names in an oath book. All of the senators were present for the swearing-in except for Sen. Jim Inhofe (R., Okla.), who is at home with a family member facing a medical issue, according to his office. He plans to be sworn in next week, before the trial begins in earnest.

Trial Adjourned

The Senate trial adjourned until Tuesday at 1 p.m. following the swear in process.

Monday is Martin Luther King Jr. Day, a national holiday.

Two Articles of Impeachment

  1. The first article of impeachment stems from Mr. Trump pressing Ukraine to investigate former Vice President Joe Biden, a leading candidate for the 2020 Democratic presidential nomination, including by withholding almost $400 million in aid to help Kyiv combat Russian aggression.
  2. The second article accuses Mr. Trump of impeding Congress’s investigation by preventing witnesses from testifying and defying subpoenas for documentary evidence.

Trump Violated the Law

Regarding point 1, earlier today, the US Government Accountability Office (GAO), a nonpartisan Congressional watchdog concluded Hold on Ukraine Aid Violated Law.

Faithful execution of the law does not permit the President to substitute his own policy priorities for those that Congress has enacted into law. OMB withheld funds for a policy reason, which is not permitted under the Impoundment Control Act (ICA).

The withholding was not a programmatic delay. Therefore, we conclude that OMB violated the ICA.

The GAO doesn’t enforce penalties for its legal decisions. Thus any it's up to Congress to come up with a remedy.

This impeachment process is the remedy.

What About Witnesses?

What witnesses are called and what evidence is admitted is up to the majority.

If four Republicans defect, the Democrats may catch a break. But Senate Majority Leader Mitch McConnell will otherwise set up rules and ram them through.

Witnesses are a potentially a two-edged sword. Both Trump and the Democrats have reasons to both want them and not want them.

And if there are witnesses, we are going to hear a lot about Hunter Biden.

Author

Mike “Mish” Shedlock's

Mike “Mish” Shedlock's

Sitka Pacific Capital Management,Llc

More from Mike “Mish” Shedlock's
Share:

Editor's Picks

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.

Gold plunges on sudden US Dollar demand

Gold drops markedly on Thursday, challenging the $4,900 mark per troy ounce following a firm bounce in the US Dollar and amid a steep sell-off on Wall Street, with losses led by the tech and housing sectors.

LayerZero Price Forecast: ZRO steadies as markets digest Zero blockchain announcement

LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board. 

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.