The news continues, the source with Kaitlan Collins starts now. ,. It problem we out steak. Im killing, collinson this is the source donald trump and his, sons not liable for fraud tonight. The new York Supreme Court justices ruling that the ex president also find Financial Statements for roughly a decade, along with his two adult sons on the trump, junior and eric trump. This is a symptom sum a lawsuit that was filed by the new York Attorney general Letitia James last year. A judge found that trump and his Company Ensures by massively over valuing his assets, and exaggerating his net worth. Trump ignored reality when it suited his business needs, according to the, judge who also wrote according to the judge, now that is a fantasy, world not the real world. This is a major blow for someone who has been a developer, that spent decades bragging about his wealth. Because im really proud of my success. I really am. I have made millions of dollars in business deals. All of my, life i made money, tremendous cash, tremendous company. We met i dont need banks, i have a lot of cash. I have businesses with my, family fantastic businesses. This is all just part of a 250 Million Dollar lawsuit that trump is facing, which is scheduled to go on trial here in new york on monday. Trump responded to the ruling tonight with this massive wall of taxed attacking the attorney general, and the, judge and claiming his worth more than the numbers that are shown on his Financial Statements. His lawyer says, he and his family will appeal this ruling to, quote, rectify this miscarriage of justice. Joining me now is the man whose testimony jumpstarted this investigation, trumps former attorney and fixer Michael Cohen. Michael, obviously this is a huge ruling against your former boss, what did you make of this . It is a massive ruling that has long been in the one thing donald trump is so good at is delay the inevitable, and the judge really had enough. He had enough of the language that was used in the 35page decision, demonstrating exactly this point that he just had enough of the games, and he was not going to allow donald Delay Tactics to continue. Is you are continue in business in the state of new york after this ruling and what the judge ruled about his Business Certificates . The answer, is no. What ultimately happens is the attorney general will cease to allow those companies to exist by pulling the license, his by pulling its license to be active in the state of new york. So long as those assets will end up going into some sort of receivership, and as a result of the receivership, the companies will end up getting liquidated, especially now that this case is no longer solely about cases so the first part is the liability, the second part is damages. There is no more issue of liability. The judge has already determined that the fraud existed. So there obviously are going to try to repeal, this we heard that from the, attorney but if they, dont if this stands, thats places like trump tower in midtown has this name on, it that is trump tower, let me be clear, a lot of people dont understand, this trump tower is a condominium. Meaning each and every one of the units owned artist owned by the purchaser, not by trump. He does have trump Property Management that operates the building, and receives a fee for it, but the properties that trump owns are all simple absolute condominiums. This ruling is a major threat to . That major. First of, all of the golf courses as an example, Briarcliff Manor as an example, that will no longer be able to operate under the trump brand. As someone who has touted himself long before he was president as this major developer, what do you think his ruling as this major developer but to think his ruling or reaction is to that tonight . I had, said and jaime actually on one of the other cnn shows, that if you really want to get to donald, the way to do it is through his bank book, not by not 60, he is not 215 pounds. You go after the wallet. Once you start hitting that bank book, that is what really gets to him. As i mention, so much of this has to do with your testimony that you provide to congress in 2019. I just want to remind people of what it was you told lawmakers at the time. To your knowledge, did the president or his company ever inflate his assets or revenues . Yes. And it was not done with the president s knowledge or direction . Everything was done with the knowledge and at the direction of mr. Trump. I mean, you were someone who was incredibly close to donald trump. Theres a reason you are able to provide that information that you did to congressman there, Into Congresswoma N alexandria ocasio cortez. Do you think he regrets that year relationship was severed, seeing how this ended up . If one would say that donald trump was normal, like most human beings, they would say absolutely it was a grave mistake. But donald doesnt see things that way. He may feel it when hes by himself, and reflecting upon it, but when it comes to openly acknowledging and admitting, donald trump is incapable of fault. Hes posting in response to this. We showed that massive statement, essentially saying that he didnt disclose his most valuable asset, which is his brand. Does he believe that thats really something that they should have taken into account here, when theyre looking at the numbers of what these properties, what these businesses are worth . Look. Again, when it comes to the value of the brand, sure, there was a value to the brand. Whats the value of the brand now . Obviously, significantly less. But if you are talking about an acid, you need to talk about the asset. What is brand value have anything to do with over inflating the Square Footage of your primary residence . His try flex on fifth avenue, two 33,000 square feet, when that unit is actually 11,000 square feet . What is the brand value have anything to do with claiming its worth 15,000 a square foot, but whenever he put down onto it, when in fact nothing in the entire area, that building for sure, ever approached a price per square foot, even in that stratosphere. Of course, it doesnt. Maralagos worth much more than the 18 million they claimed. The 18 million that youre talking about, thats not what he claimed that the value of maralago was. Thats what hes saying that the judge rules, what they found here. He is complaining about the judge. He can certainly have his day in court when it comes to damages, which is where the trial starts on monday. But i dont think he is going to be successful in any of that. Maralago is not a house, its not donald house. It is a country club. Its a social club. It is zoned as a social club. So you cant just change zonings, simply from on monday to a tuesday by saying today i want it to be a house, therefore its going to be under our one zoning, and therefore its worth 300 million. It doesnt work that way. You just talked about this is still going to trial. This is the judge saying the core of this investigation, what shes saying, can stand. If this goes to trial and theres a Cash Judgment for 250 million, can he pay that . Or is he going into bankruptcy . Let me begin by saying that theres a lot of mistakes that get made by people in the media. Journalists included, when they say this is a 250 million lawsuit. One against trump and the organization. Its not. It is a baseline of 250 million. Youre saying it could be more than that . Im saying you could go anywhere up to whatever the judge determines. Lets not forget, alina made a terrible error somebody, trumps attorney, by failing to check off a certain box that had the case as a jury trial. It is now a bench trial. So the judge will be the sole decider on what the damages are. The damage is, in my estimation, will exceed with interest and penalty, will exceed 600 million. Does that put the company to bankruptcy . He does not have that liquid cash. He does not have that available to pay that off, for a multitude of reasons. Many of the assets that he owns he is limited with no basis in them. Like 40 wall street, 1 Million Dollar basis. He also has 100 Million Dollar mortgage on it. If that Property Cells even for a whopping 400 million, just to your point, hes not able to pay that . No, because hes also going to have to pay uncle sam tax on the money between the basis and the sale price. He doesnt escape that. Everybody has to pay that. So lets say its 15 . That would be 200 million, minus the 100 that he owes the banks on. And jamie repeated it. Way to get to donald trump is always by his pocketbook. Its what he cares about most. Michael cohen, your testimony jumpstarted this. Thank you for coming on to join us tonight. Good to see you. Of course, Michael Cohens book, you can read. It revenge, how donald trump weaponized the Department Of Justice against his critics. For more on this and legal analysis of what this could mean, what it could look like on monday when donald trump is officially in court with his legal team, former federal prosecutor Elliott Williams as here. Elliott, you heard from Michael Cohen just there. We also heard from trumps current attorney saying that they believe, in their quotes, this is completely disconnected from the facts, from the governing law. Theyre going to appeal. What can they do . Can they be successful . What is the likelihood of that . Its hard to say. Look, parties often, when they get slapped down in court, will make a statement saying that this is from the facts and law. But lets look what the judge actually did. This is a Summary Judgment motion, which was in effect the judge saying theres no reasonable quest tth those just no and i think questions suc th mothis by could not hav therand is subje literally quoted doug suit saying youre never going to but it when you look at all of the judge, hail mary, when it comes to throwing out s that what bac trumps legal i nu to fil that haithey would lose so if the their trial in oits called preserving your argument. So thats one. Number two, the government, the Attorney Generals office, would have filed for Summary Judgment anyway. Its very common in cases to say we believe our case is s o so lets just assess the case from trumps perspective. Theyre saying even under those circumstances, theres just no question of fact. And i think questions such as there was the try plex that michael just referred to a moment ago. This idea of inflating the Square Footage of the property by a factor of three simply could not have been up actual error or a mistake. There was evidence of fraud. And so its not out of the question that this, when it gets appeals, gets affirmed exactly as negative in the form that it was written here. The judge is essentially saying if you are arguing this is subjective, the judge literally quoted doug suit saying youre never going to believe me or you are lying. But it when you look at all of this and what trumps attorneys were trying to do here, was basically persuade the judge, kind of with this hail mary, when it comes to throwing out this claim. Is that what backfired here on trumps legal team . Its hard to say backfired, for a couple of reasons. Number one, they wouldve had to file this motion, to file that hail mary, because they would lose the right to do so later on down the road. If the case ultimately went to appeal. The parties have to raise their arguments going on in a trial in order to its called preserving your argument. So thats one. Number two, the government, the Attorney Generals office, would have filed for Summary Judgment anyway. Its very common in cases to say we believe our case is so strong that theres no question of facts. So, your honor, please dismisses outright. They got slapped down pretty hard here because of that language that the judge huge is as pretty aggressive for any sort of judge. But i think this probably would come out the same way. I dont think it was a miscalculation on trumps teams part. It is. Safe to say it is absolutely scathing. Thank you for that legal analysis of what we saw today. Also ahead for us, Cassidy Hutchinson, a trump insider far from finished rolling back the curtain on her former boss. She worked in the white house, shes now delivering a new warning to the United States ahead of the 2024 election, in a new interview on cnn. Also, the government is set to shut down in four days. The amount of money that Kevin Mccarthy is still facing an on going rebellion from his farright flank. He just spoke moments ago. Tonight, former white house aide Cassidy Hutchinson is after bursting onto the stage with explosive testimony to the january 6th Congressional Committee last june, she is now out with a new book titled enough. Its a revealing portrait of the final chaotic days, more chaotic and we knew, of the trump white house. She talked to my colleague jake tapper, describing what he believed a second term of Donald Trumps presidency what it looked like. To me, it is sad that we are at this pay what we are looking at somebody who has executed this horrible assault on our democracy and we are continuing to give this person a platform. Thats not what we should stand for as americans, and i think that donald trump is the most grave threat that we will face to our democracy in our lifetime, and potentially in american history. When he says things like he wants to use the Department Of Justice to go after his enemies, when he says things like he did on truth social, that he wants to curtail Freedom Of The Press for certain channels and that sort of thing, you take him literally. You think he actually means it and in a second term he would do that . I feel that donald trump in a second term does 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 this country. But it is not okay to threaten an assault to the constitution and our institutions of government. I would not put it past donald trump, jake, to put those institutions of government in a worse position than they were during his term. As you noted, he is now facing 91 Felony Charges and four different investigations, hes been indicted for times. You testified in front of the georgia grand jury. You were interviewed by federal investigators overseeing the January 6th Investigation and indictment and the classified documents case. How do you feel about the charges he is facing . I know youre not a lawyer, but i know that you also read these documents. When you look at the evidence and then when you hear his excuses or his defense, do you think he is guilty . I want to hold off on providing my personal opinions on that, only because 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 is that it is sometimes just as dangerous speculate what could be going on Behind Closed Doors at the justice department. I am confident in our system of government, and i think we have to leave uninvestigated to collect the facts. And that is why i came forward and testify truthfully to all investigations. I think that if he is convicted, and that is a conviction that we need to accept as americans and we need to trust our institutions of government. But i will say this too, jake. These are the people that are running our government at the end of the trump administration. Yes, the most loyal of loyal trump people. The most loyal of loyal trump people, and you are also being indicted. Some people, some of these individuals, have also been indicted. We have to think, what with a Second Trump Term look like with these be the people that are running the government, the people currently facing indictments . Who would work for donald trump in the second term . That is the question need be asking ourselves going into this election season. And The One And Only jake tapper joins me now. Jake, this was fascinating. A long interview. What do you think was the most revealing things that she talked about in her book, and that she talked about with you . First of all, she views some of the most stark language ive ever heard about the threat that she thinks that donald trump poses. The biggest threat in our lifetime, even in american history. But what i also think is so interesting about her is the idea that she didnt she was on track to join trump in maralago, as you know, having covered the trump white house. And meadows and trump fired her, and she was going to go down there, and thats how she ended up in this track. And i asked her about this alternate reality, where she goes down to maralago and she works there and what would have happened. And she fully acknowledges that her story couldve ended up completely differently, because she was in this push and pull with on one hand wanting to do the right thing, knowing that this was wrong and january 6th was horrible, and on the other hand feeling loyal to trump and being afraid of what might happen if she left. Yeah, it was fascinating to see her talk about in the book how after the january 6th impeachment, she was instructed by mark meadows to create a hit list of republicans who voted against trump and to see her go, watching her interview with you, to think about how she went from being the person to created the hit list for trump about people who voted against him, to