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If you believe the theory that the leaks have come from the trump camp, that would hold this is some of the worst, most damaging stuff cohen has to tell the feds. but your reporting tonight is that cohen is sitting on top of a, quote, treasure trove. is that a promise or a threat or did they not characterize that? >> i think it's both. i think there's a combination of things that's happening now. cohen had been preparing since early july for the onslaught that we are now seeing. he had heard word from people in the president's orbit that this kind of character assassination was coming. he want...

Reputation. >> let's go into that. why did the attorney pay her the money? what was she alleging? >> she was alleging, although there was the contrary letter she signed that it never happened, a one-time affair, and i think when cohen heard $130,000, he said, my god this is cheap, they come cheap, let me get the thing signed up and signed off. >> so to make it go away, they made this -- >> cohen didn't even ask. cohen made it go away. he did his job. >> are you ready for the juxtaposition? that's what we're dealing with this morning. the national prayer breakfast. the president will be in the ...

He didn't ex-cole pate his client. his client is now on the hook for campaign violation. of course he is. i'm trying to figure out why. the only explanation i come up with is to some extent everything he said takes michael cohen off the hook a bit. and he's trying to do all this, even if it includes -- >> he's trying to do all this because he's concerned that michael cohen has flipped on the president -- >> that's exactly -- >> -- rudy giuliani has been out and about new york this week talking about helping the president in the case, saying michael cohen's a good guy, we want to help them. the...

One, he says the money was from trump's personal funds, not campaign funds. and two, he says trump did not specifically know what the money was being used for. president doubled down this morning with a long, long tweet. insisting the agreement with cohen is not unusual. and that, quote, money came from the campaign or campaign contributions played no role. role, mr. president, is r-o-r-le, in this transaction. does that get the president off the hook? no matter where the money came from, if the intention was to use it or to influence the election, it would have to be reported to the commissio...