Once upon a time, Michael Cohen declared that he would “take a bullet” for his former boss, Donald Trump. So great was Cohen’s love for the ex-beauty pageant owner that he routinely put up with ritual public humiliation—including at his own son’s bar mitzvah!—and performed the sort of tasks that most attorneys would politely decline. Fast-forward to present day, though, and things have changed a bit! Over the weekend, Lanny Davis, the lawyer representing Cohen, told Politico that he’s been having regular chats with John Dean, the former White House counsel who played a pivotal role in bringing down Richard Nixon. “I reached out to my old friend John Dean because of what he went through with Watergate, and I saw some parallels to what Michael Cohen is experiencing,” Davis said. “I wanted to gain from John’s wisdom.” While Cohen has been signaling for some time now that he’d be willing to cooperate with the government to save himself—telling Good Morning America in July that “My wife, my daughter and my son, and this country, have my first loyalty”—the fact that his attorney is talking to the guy who literally helped take down a presidential administration appears to make it crystal clear that he is absolutely ready to turn on the guy he once said he’d protect at all costs. And on Sunday, courtesy of a new report from The New York Times, we got a strong hint as to why:

Federal authorities investigating whether President Trump’s former personal lawyer and fixer, Michael D. Cohen, committed bank and tax fraud have zeroed in on well over $20 million in loans obtained by taxi businesses that he and his family own, according to people familiar with the matter. . . . The bank loans under scrutiny, the total of which has not been previously reported, came from two financial institutions in the New York region that have catered to the taxi industry, Sterling National Bank, and the Melrose Credit Union, according to business records and people with knowledge of the matter, including a banker who reviewed the transactions.

Federal investigators in New York are seeking to determine whether Mr. Cohen misrepresented the value of his assets to obtain the loans, which exceed $20 million.

They are also examining how he handled the income from his taxi medallions and whether he failed to report it to the Internal Revenue Service.

In addition to the fraud charges, investigators are probing possible campaign-finance violations related to paying off women who alleged they had affairs with Trump. According to people familiar with the investigation, “the inquiry has entered the final stage and prosecutors are considering filing charges by the end of August,” which means the clock is ticking for Cohen to strike a deal to cooperate with the feds. As the Times notes, an agreement “would likely include a provision that Mr. Cohen also provide information to the special counsel, Robert S. Mueller,” who is taking a look-see into the Trump campaign’s possible involvement in Russia’s 2016 election-meddling campaign. Both Cohen and his lawyers have declined to comment on the investigation, though clearly if prosecutors want to have a chat, they are ready and willing!