Suppose, for example, that Pap thinks he was in on the pardon gravy train like Manafort and Flynn (tho there's no reason to believe he was, though Toensing may have suggested he could be to get Papa to avoid incriminating her clients).
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Papa had value on the pardon gravy train last year, maybe. But not once Gates flipped. Not clear even a Manafort pardon will eliminate the risk now.
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I suspect that for Trump, reducing legal risk is only one part of the pardon calculus. The other is his ability, through raw power, to define what justice is. Loyalists get pardons because justice eminates from Trump, not the laws or constitution.
End of conversation
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