Bob something isn’t illegal because you and 90% of right-wing talking heads say it is. Hillary Clinton went through an investigation, and it was determined at the end of that investigation that there weren’t any laws broken. Contrast that with Trump who is trying to shut down an investigation before law enforcement can reach a conclusion as to whether he broke any laws by firing the law enforcement officials investigating him. (This would be obstruction of justice BTW.)
I agree with you Stormy Daniels is not a prostitute. I like that sentiment, so I will give you a thoughtful legal analysis. Paying hush money can be illegal. You mentioned the possibility of him lying to the bank to obtain the loan. That is but one of the reasons paying hush money could be illegal in this case. Another reason is Cohen’s bank issued a SAR. A normal part of that process would be the bank calling the customer and asking what the payment in question was for. I find it unlikely that Cohen answered that truthfully by saying something to the effect of to pay for a hush money agreement with a Porn Star. If he didn’t answer that truthfully, that would be a second offense of wire fraud. Then the third way it could be illegal is as a campaign finance violation. Keep in mind the government prosecuted John Edwards for a campaign finance violation under similar circumstances. These are but three ways the hush money payment could be illegal in the Stormy Daniels case.
Federal Prosecutors were found to have probable cause by the judge who issued the search warrant on Cohen based on these three ways, so the government already has substantially developed some evidence that there were illegalities with this hush money payment.
Furthermore, If Ms. Daniels was told by Mr. Cohen that he was acting as Trump’s attorney in this matter and that her deal was a contract between her and Mr. Trump, it is likely Cohen committed chargeable fraud because he is now claiming the contract wasn’t a deal between her and Mr. Trump, but rather a deal between her and Mr. Cohen himself.
Now, if it is found that both Trump and Cohen were lying when they publicly said Trump had no knowledge of this deal, they could both on the hook for obstruction of justice related to Stormy's hush money payment. It is unlikely that Trump could be charged for Cohen’s bank fraud or wire fraud, (he would have to have knowledge) but he could be charged with the campaign finance violation and if the evidence shows Trump knew about the agreement, he could also be charged with any fraudulent misrepresentations Cohen made to Ms. Daniels. As I understand it, Ms. Daniels is talking to the FBI now.
You also must go through the same analysis for Karen McDougal. I am not going to break that entire thing down like I did with Stormy, but you have to ask yourself why Mr. Cohen had paperwork and information on the deal between McDougal and the National Enquirer as he wasn’t a party to that transaction? If you want the answer, I suggest you read McDougal’s civil complaint against the National Enquirer. Hint it boils down to another fraudulent scheme. McDougal was told she was making a deal with the National Enquirer, but Cohen was really the one making the deal on Trump's behalf. (According to McDougal's civil complaint.) Trump, Cohen and the National Enquirer could all face charges from that hush money payment depending on what the evidence shows.