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This sort of unaccountable money sloshing around was one of the big post-watergate reforms which has since been revoked which brings us to this point. jed, do you think that michael cohen represents the single biggest legal liability to the president at this point? >> well, there is good reason to think that there are significant connections with michael cohen and a key allegation in this steele dossier. so what we learned on sunday is an allegation that michael cohen met with ahmed al rumahi, a qatari diplomat in charge of a $1 billion qatari fund. the steele dossier suggests that there was a...

And what they told me is there are international regulations about what has to be disclosed about a financial transaction. by keeping that number under 20%, it allowed them to move money around. so when qatar makes that purchase along with the swiss company, they immediately divide it up, spread it around, and they can create the commissions. it wasn't that they gave 19.5% to trump people like kushner, it's that they were able to under the radar create commissions that those millions of dollars could go undetected. it just turns out that there are other ways of finding out that information tha...

Or guardrails around them. david? >> oh, to me, i'm sorry. well, yes. one of the stunning things you have to keep in mind about trump and the people around him is whenever there is money, that's what their thoughts turn to. >> right. >> i tweeted the other day that rudy giuliani when he made his "i wouldn't debate michael avenatti for $10 million" it tells you these are people lucre is central to their lives. they're not thinking about public service. they're thinking what's in it for me. >> and jed, just to follow up on what you said. the pictures of cohen sort of floated around this weekend....

>> it's a great point, right? this sort of unaccountable money sloshing around was one of the big post-watergate reforms which has since been revoked which brings us to this point. jed, do you think that michael cohen represents the single biggest legal liability to the president at this point? >> well, there is good reason to think that there are significant connections with michael cohen and a key allegation in this steele dossier. so what we learned on sunday is an allegation that michael cohen met with ahmed al rumahi, a qatari diplomat in charge of a $1 billion qatari fund. the steele dos...

With not a lot of professionals or guardrails around them. david? >> oh, to me, i'm sorry. well, yes. one of the stunning things you have to keep in mind about trump and the people around him is whenever there is money, that's what their thoughts turn to. >> right. >> i tweeted the other day that rudy giuliani when he made his "i wouldn't debate michael avenatti for $10 million" it tells you these are people lucre is central to their lives. they're not thinking about public service. they're thinking what's in it for me. >> and jed, just to follow up on what you said. the pictures of cohen sort...