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31 sats \ 5 replies \ @Wumbo 21 Jan \ on: At 9a Denver time, the 10th Circuit will hear oral argument in the Custodia Case Politics_And_Law
Lawyer for Custodia just said "and the Fed said pound sand" in oral arguments.
This could get interesting. :)
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Only other highlight that I found interesting was: one of the judge proposed the hypothetical question to Fed Reserve Layers if the KC Fed could refuse a master account to a legally protected group (race,gender,etc..)
The lawyer sounded to me to kind of blow off the question. Something like, we would never do that and it would be wrong for us to do it but didn't address why it would be ok to refuse Custodia's request for master account.
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That's interesting. Sounds like the implication is just that. An insinuation that there is no justifiable reason to do so.
I could imagine the next line of questioning would be, would you ever refuse a master account to someone because they do not have any personal association with a member of the Fed?
I appreciate your picks, unfortunately the YT link required signing into Google. So, happy to just get the gist.