CNBC reports that Novartis has admitted to paying Michael Cohen $100,000 per month for 12 months.

In a statement, they admitted the payments were a part of a one-year contract where they would pay Cohen $100,000 per month to understand how the Trump administration might handle health care policy matters.

According to Novartis, they realized after the first month that he could not deliver what they wanted, but they were forced to complete the contract because it would only allow termination for cause.

Please, someone explain to me how misrepresentation of what Cohen could deliver would not be "cause?"

Host Scott Wapner was skeptical, quipping that Novartis paid "$100,000 a month, Sue, to learn that the president didn't like high drug prices."

Watch reporter Sue Ferrera try and fail to explain with a straight face what the "termination for cause" provisions "forced" Novartis to do.

This is a laughable explanation. It's about as believable as AT&T's explanation that they hired Cohen to acquaint them with Trump's new administration.

How did Novartis know to approach Michael Cohen? Did the RNC refer them? Same for AT&T? It would appear to me that these corporations knew the pathway to Trump went straight through Michael Cohen.

Update:

This is interesting. StatNews reports:

“At first, it all sounded impressive, but toward the end of the meeting, everyone realized this was a probably a slippery slope to engage him. So they decided not to really engage Cohen for any activities after that,” the employee continued. Rather than attempt to cancel the contract, the company allowed it to lapse early in 2018 and not run the risk of ticking off the president. “It might have caused anger,” this person said.

Update 2:

AT&T's ante has now raised from $200,000 to $600,000, according to CNBC.

BONUS: Yes, my friends, there really IS a tweet for everything.