Trump must know this may be one of the most dangerous moments in his entire life, not just his presidency. The likelihood is that Mueller and the FBI are now in possession of the Black Books of Trump, NDAs from enough of Trump’s various affairs, that you can staff a 12-pole strip club with plenty of girls left for the champagne rooms. It’s only speculation at this point, but it’s quite likely the Cohen was the keeper of many of Trump’s lending documents, contracts, business arrangements, and the Kryptonite of Trump’s fragile self-worth: the long-sought tax returns.

It’s an open secret and has been for quite a while, but Trump isn’t worth $10 billion. As one of my hedge fund friends (an actual billionaire) said of Trump in 2015, “He’s a clown living on credit.” For Trump to have the public learn that he may not be as wealthy as he has continued to claim as the central element of his branding would hurt him more than if Mueller then proved he took sacks of cash and a foot massage from Vladimir Putin. Collusion with the Russians is nothing compared to having his baroque finances revealed. Trump would rather be known as a traitor than as someone who isn’t one of the Masters of the Universe.