Wednesday January 22, 2020
Home Lead Story Michael Cohen...

Michael Cohen To Testify In An Open Session Before Congress Next Month

Cohen also pleaded guilty in November to lying to Congress about the timing of talks with Russia for building a Trump Tower complex in Moscow.

0
//
Cohen
U.S. President Donald Trump's former lawyer Michael Cohen exits Federal Court in Manhattan, New York City, Nov. 29, 2018. VOA

Michael Cohen, U.S. President Donald Trump’s estranged personal lawyer, said on Thursday that he will testify in an open session before a congressional panel next month, just weeks before he heads to prison for lying to Congress and other crimes.

In a statement, Cohen, who has provided dozens of hours of testimony about his dealings with Trump to prosecutors since flipping on the president last year, said that he “looks forward to having the privilege of being afforded a platform with which to give a full and credible account of the events which have transpired.”

The testimony will take place on Feb. 7 before the House Oversight Committee, the panel’s new Democratic chairman, Rep. Elijah Cummings, announced.

Michael Cohen, Trump, Russia
Michael Cohen walks out of federal court, Nov. 29, 2018, in New York, after pleading guilty to lying to Congress about work he did on an aborted project to build a Trump Tower in Russia. VOA

Cummings, a staunch critic of the Trump administration, said he has asked the White House and the Trump Organization to turn over the documents related to hush money payments Cohen made to two women who had alleged affairs with Trump.

In a statement, Cummings said that he’s coordinating Cohen’s testimony with Special Counsel Robert Mueller, who is investigating allegations the Trump campaign colluded with the Russians and the president obstructed justice by interfering in the investigation.

“I want to make clear that we have no interest in inappropriately interfering with any ongoing criminal investigations, and to that end, we are in the process of consulting with Special Counsel Mueller’s office,” Cummings said.

Trump not worried

Trump, who has called his former lawyer a “weak person” and has accused him of lying to prosecutors to try to get a reduced prison sentence, told reporters Thursday that he was not “worried” about Cohen’s testimony.

U.S.A., Trump, Russia, Cohen
In these 2018 photos, Paul Manafort leaves federal court in Washington, left and attorney Michael Cohen leaves federal court in New York. VOA

Adam Schiff, the Democratic chairman of the House Intelligence Committee, said he hopes to schedule a closed-door session with Cohen about the Russian meddling.

Cohen, who once said that he’ll “take a bullet” for Trump, told a judge last month that his “blind loyalty” to the U.S. leader led him to “cover up his dirty deeds.”

He pleaded guilty in August to federal charges of tax fraud, falsifying bank statements, and a payment he made to an adult film star to keep silent about an affair she allegedly had with Trump.

Cohen alleged that Trump directed him to make the $130,000 payment, which prosecutors say was an illegal campaign contribution that could influence the outcome of the 2016 election.

Also Read: U.S. President Donald Trump Says He’s Too Successful To Be Impeached

Cohen also pleaded guilty in November to lying to Congress about the timing of talks with Russia for building a Trump Tower complex in Moscow. The talks were still going on during the time Trump was running for president.

Trump has denied the allegations. (VOA)

Next Story

This Decade to be Good for the Financial Health of Millennials

2020s Could Be Decade Millennials Finally Get Ahead

0
Millennials
Share on Facebook Share on Twitter Share via Email Print this page The 2020s might be the decade faltering millennials finally roar to financial health. Pixabay

By Dora Mekouar

The 2020s might be the decade faltering millennials finally roar to financial health and lifestyle after a tough start brought on by the Great Recession, which lasted from 2007 until 2009.

Coming of age during the worst economic downturn in the United States since the 1930s meant that many of these young people, who are now in their mid-20s to late-30s, experienced a delayed entrance into the job market or accepted lower-paying jobs for which they were overqualified.

Many millennials were hard hit due to a variety of factors, including high unemployment, student loan debt, and an increased cost of living, particularly if they graduated from high school or college during the downturn.

Millennials
Millennials Andy and Stacie Proctor stand in their new home in Vineyard, Utah. VOA

“Since then, we’ve really had a lot of wage stagnation, particularly given that so many millennials started behind where they thought they would be,” says Jason Dorsey, president and lead millennial researcher at the Center for Generational Kinetics. “And it’s taken them longer to recover — if they have recovered.”

Experts also say U.S. millennials are the first generation to feel the full impact of decades of rising inequality in America.

A recent study found millennials are significantly financially worse off than previous generations were at the same age. Since 1996, the net worth of people under 35 has dropped by more than one-third, or 34 percent.

But things could be looking up for these younger Americans now that the average U.S. millennial is over the age of 30 and poised to enter the wealth-accumulation stage of their life.

“They’ve had a lot of time to learn about what it takes to succeed? What are the kinds of decisions that lead to the outcome that you want?” Dorsey says. “And for many millennials, boomers [people aged 55 to 75] are finally going to transition increasingly out of the workforce, which is going to create opportunity for them to actually move up into more management-style roles.”

Millennials
Juan Hernandez, 25, is among millennials nationwide with student debt who are worried about being able to qualify for a loan and come up with a down payment for a home. VOA

Millennials are at the age when Americans traditionally buy homes, start saving for the future, and invest for their retirement. It also will help that many have paid down their student debt now that they’ve been out of college for a number of years.

“And at the same time, many of them will become potentially two-income households and that’s also really helpful for many of them,” Dorsey says. “It’s sort of a perfect storm. It just happens to align with the 2020s. It’s not that the 2020s are this famous decade, but more so that millennials are hitting the times when they should start really saving and investing, and earning higher incomes relative to their spending.”

Also Read- Lower Physical Activity in Adulthood Leads to Obesity: Study

And if millennials blame previous generations for their current financial straits, it might cheer them up to know this is also the time many of them can expect to start inheriting wealth from their more well-off baby boomer parents or other relatives. (VOA)