Five early morning thoughts on the situation: /1/
First, this warrant did not issue just on probable cause. There is no way--no sliver of a chance of a way--that the SDNY went to a magistrate for a search warrant *against the lawyer for the President of the United States* without much more than probable cause. /2/
You can thus assume there was A LOT of evidence in that warrant application. You can also assume the magistrate in question reviewed it carefully. In other words, you can assume that the evidence more than amply supports the action taken yesterday. /3/
Second, all of that evidence is the evidence prosecutors had before they collected anything yesterday. In other words, you can assume that Michael Cohen has a very serious legal problem on his hands. /4/
Third, it is not good for a client when his lawyer is the subject of a search warrant involving matters concerning the services that lawyer provided to him. /5/
Fourth, really not good. /6/
Fifth, the President's angry comments to the press yesterday and tweets today suggest that he perceives the ring as closing around him. I don't do predictions but I do think it's interesting that he perceives it that way. /7/
That's all I got.
