What he said: In remarks that he yesterday tried to walk back as “hypothetical,” Giuliani admitted Trump’s team may have been working on — and updating him on — a potential Trump Tower in Moscow all the way up to Election Day.

This possibility is a huge deal for four reasons:

Giuliani suggested that then-candidate Trump was aware of — and discussed — the deal far longer than previously disclosed. Giuliani, relaying a quote from the president that hardly sounds hypothetical, said in an interview with the N.Y. Times that Trump had told him the Trump Tower Moscow discussions were “going on from the day I announced to the day I won.”

That would mean Trump was being untruthful or highly misleading with his repeated campaign denials of any Moscow business dealings, as late as his Oct. 9 debate with Hillary Clinton: “I don’t deal there.”