Will told O'Donnell that this first tape, in which Trump and Cohen discuss a payment to former Playboy model Karen McDougal, is just "redundant evidence" that Trump is "a seedy man whose incontinent sexual appetites get him into trouble with seedy women". Cohen has a lot more information to release, and he apparently doesn't care whether it puts Trump in harm's way.
Cohen can be heard on the tape saying that he needed to start a company "for the transfer of all of that info regarding our friend David", a possible reference to David Pecker, Trump's friend and president of the National Enquirer's parent company, American Media Inc.
Echoing Lieu and McGovern, journalist David Atkins argued that the tape shows Trump and Cohen "discussing a conspiracy to repay a tabloid owner for buying and spiking a story by the candidate's mistress". Cohen quickly replies, "No, no, no, no, no". Giuliani confirmed to ABC News Trump did have a discussion with Cohen before the election but he said that the payment that was being discussed was never made. "Mr. Cohen and his [attorneys] refuse to provide us the tapes, which is a direct ethical violation (see letter)".
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He added that the tape - which is one of 12 recordings seized from Cohen's apartment, office and hotel room by federal investigators in April - ends abruptly, which he said suggests either Cohen erased what he didn't want anybody to hear or he intentionally cut it off. "Donald Trump is not shocked money is being paid about someone named Karen McDougal", Davis said during an interview with CNN.
Some of the details in the call align with the details of the episode.
McDougal sold the rights to her story to American Media in August 2016 for $150,000. Mr Trump was the host of "The Apprentice" on NBC at the time.
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Trump has previously denied knowledge of the $130,000 payment to Daniels that was facilitated by Cohen.
On Wednesday, speculation was firmly focused on whether Cohen might have other dirt on Trump and whether there would be any legal consequences for the president if it comes to light.
Giuliani said the conversation was held at Trump's office in Trump Tower and that Cohen used a hidden device to record the conversation. The tape, which was released by Cohen's legal team, was one of 12 seized by the Federal Bureau of Investigation when Cohen's office and home were raided earlier this year.
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Disclosure of the recordings came in a Monday court filing by the retired judge who is deciding whether prosecutors may review the thousands of items seized in the raid. In addition, Trump's attorneys have not claimed the recording is a privileged attorney-client conversation. For Giuliani, we may have a privilege claim sighting at last.