2018-08-28 06:11:24 UTC
Donald Trump Impeachment Odds Reach Tremendous Levels after Manafort
Trial, Cohen Plea
By John Reger on August 24, 2018
It was a bad week for President Donald Trump, but oddsmakers believe it
could get even worse. They have adjusted their lines for the chances of
Trump getting impeached, and it is at its lowest mark since he was
Bovada now has the chances of him being impeached at +120 for yes, -150
for no. That is down from -200 for a yes a month ago. PaddyPower has it
as 6/4 yes, 1/2 no, also a drop from July. Bookmakers do believe if he
dodges impeachment, however, he would be re-elected in 2020.
Ladbrokes spokesman Alex Apati told the Express newspaper in London that
sportsbooks have been busy adjusting odds after news of two Trump
associates in trouble with the law.
"It's been a busy week in the world of politics and the latest news has
led to punters predicting an impeachment before the end of Trump's first
term," Apati said.
Plea Deal, Convictions Move Markets
Trump's impeachment odds had already taken a hit after his one-on-one
with Russian President Vladimir Putin in Helsinki in July. The meeting
was heavily criticized by both republican and democrat congressmen, and
brought up the issue of whether Russians meddled in the 2016 election.
Then this week two members of inner circle are facing jail time for
financial crimes, one relating to Trump's election. Former campaign
manager Paul Manafort was found guilty on two counts of bank fraud, five
counts of tax fraud and one charge of failing to disclose foreign bank
That verdict was quickly followed by news that Trump's former personal
lawyer Michael Cohen had reached a plea deal with federal prosecutors on
eight criminal counts including tax fraud, false statements to a bank
and campaign finance violations tied to his work for Trump. The most
damaging to the president was Cohen's assertion that Trump directed him
to make payments from campaign funds to women he believed could
negatively affect his run for the White House.
Cohen attorney Lanny Davis said in a statement: "This is Michael
fulfilling his promise made on July 2nd to put his family and country
first and tell the truth about Donald Trump. Today he stood up and
testified under oath that Donald Trump directed him to commit a crime by
making payments to two women for the principal purpose of influencing an
election. If those payments were a crime for Michael Cohen, then why
wouldn't they be a crime for Donald Trump?"
Trump and Giuliani Defiant
Meanwhile, Trump and his new attorney Rudy Giuliani have made numerous
statements defending the president's actions, and predicting doom and
gloom if he was impeached.
Trump went on Fox News and said the economy would be ruined if Congress
tried to take such a measure against him.
"I tell you what, if I ever got impeached, I think the market would
crash, I think everybody would be very poor," Trump said on Thursday.
You would see numbers that you wouldn't believe in reverse."
Giuliani followed that up with remarks that the US people wouldn't
tolerate an impeachment.
"You'd only impeach him for political reasons, and the American people
would revolt against that," Giuliani said. "I think it's inevitable that
he won't be impeached. President Trump is completely cleared."