Transcript for Inside former Trump attorney Michael Cohen's testimony on Capitol Hill

Do. And. A welcome to a special episode of the investigation we've been watching president trumps former lawyer. And fixer Michael Cohen's appearance before the house oversight and all throughout the day I'm also joined here with the head of our investigative unit crisp last L. Only John CN TG. Matt mosque two of our veteran reporters who've been covering trump from the very beginning and on the hill are Mary Bruce ABC news senior congressional correspondent I think we all can agree Mary it's been quite a day. Isn't quite a circus appear on Capitol Hill I can't remember the last time I saw just such a huge crush of cameras the lying in. Of members of the public that stretched all the way around. Undated is house office building waiting to get a glimpse of what Sony told us they they viewed simply as history. And it was just remarkable to see the president's former fix airing his attorney someone who want that he would take a bullet for the president. Just completely delivering his blistering takedown. But Donald Trump's straight off the bat you heard Colin saying that the president is a con man a cheat and a liar and it became very apparent very early. That did this stark divisions between the two parties how partisan this hearing was going to be you have. Democrats visited the chairman Elijah Cummings saying I think he feels very strongly that this committee is no longer going to be protecting the president that he feels the president has been able to go on checked for too long and that was ending today and they he you know one into deep deeply into what calling new. Ballots what he witnessed by the president's side during that decade they wanted to know all about. Why he lied to congress before about that trump tower deal. In Moscow that Cohen now admits that that the president knew what was stretched well into the campaign and of course I wanna know grabbed all the nitty gritty details about the hush money payment to stormy Daniels. Which of course is that is what implicates the president here. He in criminal conduct while he is in office Cohen now says and then on the flip side menu whether Republicans completely united. No one seeming to break from the party ranks in going after Cohen in painting him. As a liar as a frog street you had one. Republican member goes are saying liar liar pants on fire they wanted to to chip away and they did repeatedly at Collins credibility and look Cohen has credibility problems he did lie to congress before it's one of the reasons. He's about to be heading to prison. Seen a couple weeks here dole is interesting when you looked carefully and you listen to all Republicans were doing here. They were trying to take obviously cast Cohen as someone who cannot be trusted but they were questioning the substance. But what he was it was accusing the president up in your questioning the documents the evidence. Dick Cohen brought within you didn't hear them really defending the president against. Some of the claims that Cullen was making instead they were making this personal about Cohen. Now Michael gone was very clear about that in staying that he has not seen. Any evidence of collusion and remember we didn't expect any big blockbusters. On the Russia front going into this. Although certainly so many questions about it came up and what you you're seeing here is you have Democrats and you look at the questions they were asking doing some ground work here. They wanted to know. What Cohen knew in parts of the bacon could decide where did tip poke around next what other witnesses to bring up next. Who else did they need to be examining and shining a light on as they try. Tube to broaden their investigation here Republicans will would say look Democrats are simply trying. To make the case is they inevitably had towards impeachment Democrats of course are very wary of using the I word. But certainly you saw them laying out that witness list to us would be talking to what else should we be digging into. And Russia of course hangs over all of this as a starter counsel's probe continued. I'm my kind of impression of the whole thing was that if you're Democrat who hates Donald Trump. You've got your meat and if you're a Republican who loves Donald Trump. You're also going to be like you look at Michael Collins a liar why should we believe and so it do you think that's. I do think it's fair and that's often a question that we have I feel like after many hearings after many big sort of blockbuster moments appear on the hill is didn't move the needle right. Did anything really changed because of today or did both parties and both camps simply go back to their own corners. And I think yeah if you REA Donald Trump supporter you'll look at that the Republican line of questioning you'll sit looked out and Michael Cohen is a liar why should we trust him why should we trust what he's saying that the president now. If you are a Democrat. Especially here when you know one and that the more progressive members is already been calling for impeachment you'll say hey man these are some blockbuster things we gotta be digging into further. You know but Chris Christie raise two point that he seemed to say that where were the Republicans. Ripping. Cohen a part about the stormy Daniels allegations. Yet eight get that gets back to this question about why Republicans really more fiercely defending the president. And we tried to ask some of the Republicans that exact question as they were leaving. The hearing room for a break. And they really ought to talk about they discontinued want to hammer away at Michael Cullen but if he's you ask them hey yeah are you questioning the veracity of the evidence are you questioning the actual substance of his claims. They don't have a good answer for that yet. An aide you know behavior and Donald Trump and you're watching that it may raise some red flags elitist I can't you know their clearly gone after Cohen. Though but what about coming to my defense. Mary Bruce ABC news senior congressional correspondent always great to talk to you Mary thank you so much thanks games. Read to get quick break we'll be right back with more reporting and analysis from our investigative team stay with us. And welcome back here with me my colleagues Chris class so head of our task force Johnson Tucci who's been. Covering the trumps it for quite a long time and longtime investigative correspondent for ABC news Matt mosque. Boy guys we saw a law and a fireworks in this congressional hearing I know what mr. trump is. He is a racist. He is a con man. And he's a cheat. Mr. Cohen how long did you how long do work in the White House. I never worked in the White House but that's the point is that mr. Cohen notes are mr. trump tests need to handle. Negative press surrounding. His medical deferment from the Vietnam draft he told me not to answer the specific questions by reporters. But rather oil for simply. The fact that he received. A medical deferment. He finished a conversation. The following comment. You think I'm stupid. Not going to Vietnam. I find it ironic apps to president. That you are in Vietnam. Right now that's why. That's important key public appearance and look at the old adage that our moms taught us liar liar pants on fire and no one should ever listen to you and give you credibility. It's mr. trump is an enigma. He is capable of behaving kindly. But he's not content. He's capable of committing acts of generosity. But he is not generous. He's capable of being boy healed but he is fundamentally disloyal. Donald Trump is a man who ran for office to make his brains great. Not to make our country great. I must tell you that I've arrested several thousand men in your mind made many of them. The ones that immediately become humble and remorseful. At the time they're actually booked. And while they're incarcerated are quite penitent. And then returned to their former selves. When they're back on the street. And I can only warn people the more people that follow missed a trump as I did blindly. Are going to suffer the same consequences that I'm suffering after what do you want your children but now I'm sorry for the pain I've caused them. And to. Which I can go back and tone. I'm seen something like that in the long time George Stephanopoulos has been saying there hasn't been hearing like this since John Dean. I don't know quite go that far I don't know if this lived up to the John Dean Watergate hearings what do you think Matt well obviously there are a lot of explosive moments. And it was entertaining television but if you're one of the president's lawyers and you won a strip away. The most entertaining things and just look at where the real trip wires are legally for the president I think there were some moments that would be of concern to them. And those would be around this crazy story that Michael Cohen told about a a portrait of Donald Trump that was being auctioned by a charity and trumpet according to Michael Cohen had somebody go in and bid money Ford and then repay them out of that Donald Trump foundation a charitable foundation. That raises a whole host of legal concerns surrounding. How you're supposed to use charitable money and we already know the New York attorney general's looking at that. And we and we also know the IRS is looking at that and that's a real danger zone for Donald trapped. But did you mats were saying something else that seemed more damaging to me about these these inflated the you know trumps always been known to inflate his. Well but that may turn to bite him immune do you know what yes well there's it's one thing to inflate your net worth for the purpose of going higher up on the Forbes wealthiest person list it's another thing if you are applying for a bank loan and your inflating your net worth for that purpose. And that some of the experts have told us raises questions about. Bank fraud about lending abuses such so. Michael Cohen presented evidence that he said showed Donald Trump was inflating his network for that reason that would be a problem if I was a lawyer for Donald Trump John. No I mean I think to Matt's point I think that there is Ito. I don't think there was anything you could say. All wow this is amazing ever this for I do think though. We learned more details on certain areas right -- we learned about communications that he allegedly may have been having with Roger Stone during the campaign that is something that we know. The special counsel others and asked about but we never heard a clear example of those communications. Until May help. We've now learned a little bit about. The dialogue that was happening around Michael Collins testimony before congress we know that all the lawyers when a joint defense agreement but we did not know according to Michael dent his testimony may have been altered by the members that legal team now I will tell you from having. Reporter on the trump legal team for quite some time I have never heard. That they actually went in and edited it Michaels testimony. If that turns out to be true and of course that's O Michael was charged with with lying to congress the first time that would be quite explosive. You know one of the things that I think Democrats accomplished at this hearing why is because there was so much discussion of Michael Cohen's. View into the inner workings of Donald Trump's world. They've actually seen enough to ask for things like Donald Trump's tax returns and this may have provided them the predicate that they've needed to make that request and we know that the. There's been meetings on capitol hole already house Ways and Means Committee has been talking about how. How they would go about this. They've looked up IRS code to see how they could actually of teen. His taxes of your point mad if city's committee gave them anything he keep them fresh red meat. To build that argument to go and get them. But there was also a lot of assumptions and the one word suspicions and I made I I mark this when I was looking there listening to Michael Collins commented. He said questions have been raised that whether I know of direct evidence that mr. trump Gore's campaign collude with Russia I do not I want to be clear but I have my suspicions. There were a lot of I have my suspicions or when mr. trump gives me a certain look I know what that means. It is so. You know I actually saw that statement Kara as soon as good news for Donnelly stronger if I mean Michael Cohen is telling everyone there was no collusion. I may think things on assistance is that's. What are the things that jumped out at me was the amount of innuendo. Gossip and rumors yet was sort of allowed into public view just by virtue of having this hearing. We heard about an elevator video we heard about. Other catching kill payments we heard Donald Trump wanted his SAT scores not yours and I actually sent it about that elevator taped. That this has been a rumor. In in Washington in New York for. Three and a half years and I'm actually if you believe Michael column which on this. I don't know he could be telling the truth he tried to unit tape and and and and it just took a dim. They didn't eggs and I think that's been a broader point oh with Colin that look. In those circumstances you can cease it look. I know mr. trump I would never believe he could strike maligning your dues and in which that video that has long been rumored that we've always been looking into. We've never found it but it certainly you know please in the sense and OK he could have taken an opportunity there to attack or see something. But he didn't brother Republicans spend so much time calling in the liner that was actually there is actually quite a bit of testimony that he gave. That worked and Donald Trump's favor and that was certainly a great. I actually think the Republicans really missed an opportunity on that on actually he you know they could have attacked Michael Cohen I think you know I've said for all along time. On the stormy Daniels Michael Cohen got involved in that. The stormy Daniels a shoot in 2011. Donald Trump and what may be was dreaming about being president but he wasn't running for president. So that would have been a line of questions that may be a who knows who will be brought up well. And in that also say that point right we talk often about Donald Trump been catching kill and the relationship with David Pecker I mean one of the things that surprised me. Was to hear from Colin that this had been a practice that. Happen often during his ten years and even going back before Collins started in 2007. He claims he knew of multiple instances of where Donald Trump and his pal David packer would catch and kill stories that we're bad for Donald Trump bad for business now leading get specific but. I do think in talking to several sources there were watching. Collins testimony what they took away from it is it. Calling it basically gave a road map to other things that. If you have congressional committees that want to. Go into that business go into the foundation is Matt was talking about they wanna go into the AM I relationship they want to. Bring other witnesses I mean just review all the names we heard in this testimony right we heard Alan Weiss oberg a long time guy chief financial officer of the Trump Organization. This brings them now deemed to the center and potentially could be congressional witness LES had made essentially an invite. List for the congress these are the people I think we're gonna see next on the health. Bottom line though will any thing that we heard today. Lead to any kind of criminal conviction while I mean if you listen to release and I mean this statement that he gave it mean all of our eyes explode he said quote. I am in Constant Contact for the southern district of New York regarding ongoing investigations. We don't know what that could potentially be. But we know from our team that is covered him from the beginning he is gone in and met with the southern district since he pled guilty late last year what he's been giving them we really don't. No right that was the most tantalizing lead for the investigation what. And he didn't want to talk about it so it raises more suspicions but as Hugh would say just because the southern district is investigating something. Doesn't mean it's something happen that was bad but if you listen occur. Or is Christie. ABC. Christy is said repeatedly to a before ST NY got going and now is Muller's ending they yield the everyone could be worried about Bob Mueller he has always believe the real threat to the Trump's. He is the southern district of new York and we know that Michael Cullen has really been giving them a road map to all of the months that he's been cooperating with them obviously the trumps heart beast in New York so. We haven't really seen. Action taking ends against the Trump Organization in the company. And that would certainly be that red line the president has always talked about. That don't go into the company Dell going to the financials. But maybe that's where we're going we're gonna have to wait and see net sense like there are any over the Red Line. You know the conversations the water cooler conversation right just kind of bringing this down to if we were all sit now at a pub having a beer. Is that today is historic. It was historic is historic. What we are hearing about our president what we're hearing about his his longtime fixer friend personal attorney. I mean these stories that he's he's not on mr. that he cheater that he threatened people that he acts like a mobster I mean don't sit back and think this. Our president that we're talking about. And I mean I think it's those things like when Michael SATA how many times did you threaten people. See here went zero get keep going okay 500 sideline during write 510 and men and but most of those threats. Are two members of our press corps yet that I present company included an air and here I don't worry and that's president art or threatened to break right guy but I. I don't wish your negatives of those threats seriously I feel somewhat certain that he's not the first president to have somebody around now and that played that role there have been henchmen and in administrations going all the way back vicious you don't get to hear it. In so much granular detail as we heard and social media we've never had a president that tweaks the way this president tweet sending the exchange began gain and what about our our second guest of our podcast Lanny Davis. Seem to be painted by the Republicans. The slope. But could this is an all in orchestrating conspiracy. The healing the executive producer of today's committee here is that what they call floodwater in mid they basically said this is all orchestrated by when he has he's just sitting over his arms folded. I'm Michael Cullen and look if you're when he gave his I mean you pretty happy with today's hearing right I mean you've got. Everything out there you wanted that opening statement that went on and on and on I mean there's so much in there that would as we were listening to an even Michaels deliver a I mean. But I think too curious point and I think it's a good point is. As entertaining as this was it is also very important to step back and look at the seriousness men and I think that for the American public a lot of the staff is going to be. Fairly shocking all right let's just leave it there I think we've kind of summed it up thanks for joining us for our special episode of the investigation be sure to hit subscribe. Leave us a rating from my colleagues here with any Chris last so Matt mosque Johnston Tucci and Kara Phillips we will see you next week on the investigation. And.

This transcript has been automatically generated and may not be 100% accurate.