Impact for Trump in wake of Cohen and Manafort bombshells

ABC News' Cecilia Vega, chief legal analyst Dan Abrams and contributor Chris Christie break down the biggest bombshells that came out of Michael Cohen's guilty plea and Paul Manafort's conviction.
4:30 | 08/22/18

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Transcript for Impact for Trump in wake of Cohen and Manafort bombshells
GE, over to you. Let'sring inorr U.S. Attorney, foepublican governor Christie of new Jersey, seniorte house correspoent Cecilia Vega, F legal analyst, dbr as well and,chris, let me beg with yight here. What a day ery. Yeah For president trump. Peopomparing it to the summer of 1973 when johnean went andestified again Richard the tapes disced. How serious a blow? Well, sure,orge, this is not aat dait's a baday for the president and'me he understand that but we have to have persp TRE is a L way to go here. U know, I listened to Lanny daviterview, good interew but I have T tell Yo Forlani Davis to be sitting there and saying T a guy who defrauded the federal govent of $4 million tax moneymied bank fraud and all the rest now needs the help of the America people, ihink it's ag Tt may be but we've really never seen before aernal atey to a president implicating him in a federal crime. O, we have not and, again, what we've got to know I what was the president's motive in directing these payments to be made? Was thisrn and practice Thad gone on other times ugh the years before H a car was this speci to influence the electi did I infce the election? Hose arell questionsve got to get and. One thing we didn't see was a sfic charge against president trump in the charging donts but we would exp if president of United States, ife were candidate foongress O dog catcher he will likelye the next one indicted Absolu, the fact that he is prems to immunize him at least for now from ecion but, reme, mil hen isn't just saying I made these pa, he' saying ie these payments with the intent to influence the election, exactly what Chris is talking and by saying at, if telling the truth and the reason he was direct to do that was to influence the election, that's a campaign finance violation. That's against thelaw.if the presi directed him to that as Michael ys, that too isinst the law and he would be indicted in other context. Cecilia, I'm struc by the fact so far it's now coming up on 7:13 in themorn. We don't have oursu tweet from president trump this ring. Yore at the white house day yesterday. Quite a different atmosphere fr usual. One of the more freneticays ve had covering Thi administration and I know from talking to people here that aides really struggled yesterday to come up with the right respono C up a spin a story that,frankly, I impossible spin. I'm also told that president behind the scenes is frtrated. He is maintaining when he is talking to aides behind closed doors that narrative that ther no collusion, that the story is not about him and really the narrative right now we heard from Rudy giulni and we will continue to hearthis, Michael Cohen is a liar and the manafort case is not about do trump. Chrchristie, one of the things we'reseeing, only ase in the southern district, you havehe New York attorney generaling looking the trump foundation and rober Mueller looking at everything having too with Russia and now Michael Cohen sayie wants to cooperate, we even S yesterday Paul manafort's lawyer sayin he's consing all his opons. Sure, and, George, this is what happens. We've been talking about this now for almost a year, that when a special count gets put in pl with very broad thority, you ha way of knowinghere itoing to end. I told Y I've said to T president number ofypes there's lotsays to make this longer ts is making it longer. Dan Abrams, what is the est legal threat president right now? Well, look, I tnk that for him personally, there I no immediate legalthreat. The threat to him is political. And the qstion is going toe can roberteller, does Mueller put together ultimately effectively what is a charging document but heresents it to Ress, not to a grand , not to a jury asypicallyou be the case and that's th real Dr for him. Ink it's I to note, though, thatrosecutors who haeen going after Michael Cohen are not Robert Mueller's am. This is nor of the alleged witch-hunt. These are pcutors who report director Jeff sessions, torney general, so that's a different group ofrosecutors and a different investigation All ofs putseachment frondcenter. Ks very much.

This transcript has been automatically generated and may not be 100% accurate.

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