Two the source with starts now. Straight from the source. A major ruling, a new york judge has found donald trump viable for persistent fraud among the two of his adult sons. Before the trial begins, serious jeopardy. Cassidy hutchinson giving an interview now warning the ex president , in her view, per dozes this great threat to u. S. Democracy. History as a sitting president struck autoworkers on the picket line for the very first time with his own economy and state i am Caitlin Collins and this is the source. Donald trump and his son have been found liable for fraud. A new York Supreme Court justice ruling that the ex president also fight Financial Statements for a decade along with his two adult sons, donald trump jr. And eric trump. It was filed by the new York Attorney general last year. And the judge found that trump and company deceived banks and insurers by massively overvaluing his assets, and exaggerating his net worth. The judge also wrote, that is a fantasy world, not the real world. This is a major blow for someone who has been a developer that i spent decades bragging about his wealth. I am really proud of my 60s. I really am. I have made billions of dollars in business making deals. All my life i have made money i never quit making money. I built an unbelievable company. Tremendous cash. I have some of the greatest assets in the world. We have a lot of cash. Built a great business with my family. This is all just part of two and 50 million lawsuit that trump is facing, which is scheduled to go on trial in new york on monday trump responded to the ruling that this massive attacks the Attorney General and the judge and claiming that he is worth more than the numbers that are shown from his Financial Statements. His lawyer says he and his family will appeal this ruling to rectify this miscarriage of justice. Joining me now is the man whose testimony just started this investigation, michael cohen. Michael, this is a huge ruling against her former boss. What did you make of this . It is a massive ruling that has long been in the weight. One thing that donald trump is good at is delaying the inevitable. And judge engoron have enough. Some of the language that was used in this decision demonstrates exactly this point. He just had enough of the games and he was not going to allow donalds Delay Tactics to continue. Is donald trump still in business in new york after this ruling and what the judge ruled about his Business Certificates . The answer is no. Is what happens is the Attorney General will cease to allow those companies to exist and pulling the licenses by pulling its license to be active in the state of new york. All of those assets will end up going into some form of receivership. As a result of the receivership, the companies will end up getting liquidated, especially now that this case is no longer solely about the first part is the liability, the second part is damages. There is no more issue of liability. The judge has determined that fraud existed. Now it is just an issue of damages. They will try to appeal this. Youre saying that if this stance that places like trump tower that has his name on it, that is no more. Trump tower. Let me be clear. Trump tower is a condominium. Meaning that each and anyone the units are owned. It is owned by the purchaser, not by trump. He does have trump Property Management that operates the building and receives a fee for it. That will no longer be in existence. All of the companies that are trump owned and controlled, yes. The properties that trump owns are all these simple, absolute condominiums. This ruling is a major threat to at. All of the golf courses, as an example. That will no longer be able to operate under the trump flag. As someone who has touted himself long before his president as a major developer, what you think his reaction is to vacuum or i had said and jamie parroted me out the other standing shows. If you really want to get to donald, the way to do it is through his bankbook. Not by saying he is a narcissistic sociopath or he is definitely not 63 and two of 15 pounds. You go after the wallet. Once you start hitting that bankbook, that is what gets to him. So much of this has to do with your testimony that you provided to congress in 2019. I just want to remind people what it was that you have done. To your knowledge did the president or his company ever inflate assets or revenue . Yes. Without them under the presents knowledge or direction . It was done at the knowledge of president trump. You are someone who is incredibly close to donald trump there was a reason you are able to provide that information to the congressman and the congresswoman. Do you think he regrets her relationship was severed seeing how this ended up . If one would say that donald was normal. Most human beings would say, absolutely. It was a grave mistake. Donald does not see things that way. He may feel it when he is by himself and reflecting upon it. When it comes to openly acknowledging and admitting, donald is incapable of fault. He is posting in response to this. We showed the statement say he didnt. The close is most vital asset. Does he believe that is something they should have taken into account here when theyre looking at the numbers of what these properties and businesses are worth . When it comes to the value, there was a value. What is the value of the bread now . Honestly, significantly less. If youre talking about an asset. You need to talk about the value of anything that has to do do with over inflating this footage of your primary residence, fifth avenue two 33,000 square feet when the unit is actually 11,000 square feet. What does the value have a need to do with claiming it is worth 15,000 a square foot or whatever he put down onto it when nothing in the entire area of that building, for sure, ever approach a price per square foot even in the stratosphere. Maralago is worth much more than 18 million at this point. That is not what he claimed the value of maralago was. That is what he saying the judge ruled it. Hes complaining about the judges estimate. He can certainly have his day in court when it comes to damages, which is where the trial starts on monday. I dont think he will be successful. Maralago is not donalds house. It is a country club. It is a social club. It is zoned as a social club. You cannot just change zonings simply from monday to tuesday by saying, today i wanted to be a house. Therefore, it will be under r 1 zoning. Therefore it is worth 300 million. It does not work that way. This is still going to trial. This is the judge saying the core of this investigation, it can stand. If he goes to trial and there is a Cast Judgment for two and 50 million, can he pay that or see going to bankruptcy . Let me say there is a lot of mistakes that have been made by people in the media, journals include when they say this is 150 million lawsuit against trump and the organization. It is not. It is a baseline of 250 million. It could go anywhere up to whatever the judge determines not forget a terrible error by failing to check off a certain box that had the case as a jury trial. It is now a bench trial. Judge engoron will be the sole decider on damages. The damages, in my estimation, will exceed with interest and penalty and exceed 600 million. Does that put the company into bankruptcy . He does not have that liquid cash available in order to pay that off for a multitude of reasons. Many of the assets that he owns, he has limited to no basis in them. 40 wall street, 1 million basis. He has 100 million mortgage onto it. If that property sells even for 400 million you are say he cannot pay that. No, because he will have to pay uncle sam tax on the money between the bases and the sale price. He does not escape that. Everyone has to pay that. Let us say it is 50 . That would be 200 million minus the 100 that he owes to the banks on it. There is 100 million left in order to be used to offset whatever the judge ruling will be what you think is going through his mind . I think he is very angry. Jamie repeated it. The way to get to donald trump is always in his poppel pocketbook. Michael cohen, thank you for coming on tonight. Of course, Michael Cohens book you can read it. How donna lies listen to his podcast, political beat down. For more on this and legal analysis of what this could mean and what it will look like on monday when donald trump is potentially in court, Elliot Williams is here. Elliott, you heard from michael cohen. We heard the attorney saying they believe this is disconnected from the facts. They are going to appeal. What can they do . Can they be successful . It is hard to say. Parties will make a statement that this let us look at the judge did approve this is a Summary Judgment motion which was the judge saying there is no reasonable question of fact. Even given the facts of this case in the most favorable let us just assess the case from trumps perspective. In saying even under those circumstances, there is no question. Questions such as the what michael referred to a moment ago is the idea of fighting the Square Footage of a property by a factor of three simply could not have been a factual error or a mistake. It was evidence of fraud. It is not out of the question that this gets appealed and gets affirmed exactly in the form that was written here. The judge was saying, this is subjective. The judge said, who are you going to believe . When you look at all of this and what trumps attorneys were trying to do was persuade the judge kind of had a hail mary went they were throwing out the claims. Is that what backfired on the legal team . It is hard to say backfired. Number one, they wouldve had to fire this notion because they would lose the right to do so later on down the road. Parties have to raise the arguments early on the trial, it is called preserving your argument for appeal. Two, the government would have probably filed for Summary Judgment anyway. It is very common in cases to say, we believe our case is so strong there is no question of fact. Your honor, please dismiss this out right. They lost. They got slapped down hard because that language that the judge uses is pretty aggressive for any judge. This probably would have come out the same way. I dont think it was a miscalculation on trent my ct part. It is. Elliot williams, thank you for that analysis. Also ahead, Cassidy Hutchinson, a trump insider finished pulling back the curtain on her former boss. She worked in the white house is now delivering a new warning to the United States ahead of the 2024 election in a new interview on cnn. Also, the government set to shut down in four days. Run out of money if Kevin Mccarthy is still facing an ongoing rebellion from his far right flank. He just pokes moment ago. We will tell you what he said. Former white house aide Cassidy Hutchinson offering a stark warning about trumps. Bid for the white house. After bursting on the National Stage was explosive testimony to the january 6th Congressional Committee last june, she is now how the new book title, enough it is a portrait of the final chaotic days more chaotic than we knew of the trump white house. She talked about her colleague describing what she believes a second term of donald trump would look like. It is sad that we are in this place as a country. We are looking at someone who has executed this horrible fault on our democracy. We are continuing to give this person a platform for that is not what we should stand for as americans. Donald trump is a threat to our democracy in our lifetime and in our american history. When he wants to use the Department Of Justice to after his enemies but when he says things like he did on truth social the other day that he wants to curtail freedom on the press. You take him literally. You think he actually means it and in a second term he would do that. I think of donald trump and a second term would not have guardrails. I think we saw that at the end of the first term with how things played out after he lost the election. He violated our constitution in multiple ways. It is completely fine to File Lawsuits in states. What is not okay is when you threaten an assault the constitution and our institutions of government. I would not put it it passed donald trump, jake, to put those institutions of government in a worse position than they were in during the first term. As you noted he is now facing 91 Felony Charges and four different investigations. He has been indicted four times. You have testified in front of the georgia grand jury. You were interviewed by federal investigators overseeing the January 6th Investigation and indictment into classified documents. How do you feel about the charges he is facing . I know you are not a lawyer. I know that you also read these documents. When you look at the evidence and you hear his excuses or defense, do you think he is guilty . I want to hold off on providing my personal opinions. Only because i am with the platform that i think we all should look towards and the platform that i am trying to adopt in this era of my life that is it is dangerous and speculative what can be going Behind Closed Doors at the justice department. Im confident in our system of government. I think we have to leave it to investigators to collect the facts. That is what i came for it and testify to all the investigations. I think he is convicted and that is conviction we need to accept as americans and we need to trust our institutions of government. I will say that i think these are the people that are running our government at the end of the trump administration. The most loyal of loyal trump people. And who also have been indicted. Some of these individuals have also been indicted. We have to think, what would a second trump term look like . Would these be the people running the government, the people currently facing a dianes indictments. That is a question me to ask yourselves going into this election season . The one only jake tapper joins me now. This was fascinating. What do you think was the most revealing thing that she talked about in her book and talk about with you . She use some of the starkest things ive ever heard about the threat she thinks donald trump owes us to democracy. Saying it is the biggest threat in our lifetime or even american history. What i think is so interesting about her is the idea she was on track to join trump at mara lago, as you know, having covered the white house. And meadows and trump fired her she was going to go down there. That is how she ended up on this track. I asked her about this alternate reality where she goes down to maralago and she works there and what wouldve happened. She fully acknowledges that her story couldve ended up different because she was in this push and pull. On one hand, wanting to do the right thing going there this was wrong and january 6th was horrible. On the other feeling loyal to trump and being afraid of what might happen. It was fascinating to see her talk about how after the january 6th impeachment, she was instructed by mark meadows to create the hit list, the republicans who voted against trump. Watching her interview with you today about how she went from being the person who created the hit list for trump to keep so he know who had voted against him to being someone who read this book and speaking publicly about how difficult it was to make that. It is not just the names, it is their pictures. It is a complicated story and that is one of the reasons it is so interesting. It is this journey from trump loyalists, mark meadows asked her if she would take a bullet for donald trump. She says, maybe in my leg. She is joking around. That is the kind of environment that she is in prayer would take a bullet for him . To someone that ends up being the star witness against him. It is really shocking. Now she has this book called enough. She is out there saying he is number one threat to democracy. And saying that he, in her mind, is disqualified from being present. He disqualified himself because he violated the constitution. She is still a republican. She is watching the debates hoping that one of these candidates will Say Something that appeals to her. It sounds like both Chris Christie and nikki haley have elements that attract her, although nikki haley seems like maybe disappointed her of it cannot be more partial than january 6th. It is a complicated story and interesting story. When you read the book and you see her describe event and she describes them through the eyes of who she was of the time. She does not do revisionism. She does not talk about the call was zelenskyy in 2019 through the eyes of her self now. She talks about how she felt about it then. When the atlantic does the story about how trump, in that visit to france for the Centennial Anniversary of world war i, when he calls american soldiers who are buried there and killed in world war i and he calls them suckers and losers. Theyre trying to tell the atlantic that it is not true. It is true. As you know from talking to people, he did say that. She is not reporting that because she is embarrassed. Shes not home at how the story was true. She is talk about how she was trying to serve the president. She is writing it as who she was then. And then she has this journey and epiphany. It is a really interesting story. She went from being someone about the january 6th or around the time that if you could see her on Camera Lint Rolling mark meadows jacket at one time. She was that close to the chief of staff. To now saying, she is worried what a second trump term would look like. That is not what jesus thing but other Trump Officials said the same thing. What all of them have been saying, i remember alyssa fara saying to me when we did the special before the January 6th Committee in 21. Alyssa fara said in an other trump terms, what theyre always able to say to trump to get him to back off doi