Cohen claimed to the court that "thousands, if not millions" of communications seized by the SDNY fall under attorney-client privilege, and on that basis Cohen's team should review the seized documents first (which is a rather insane claim, to let the defendant decide what should be allowed to go into evidence, and basically never happens), or at least that the court should appoint a special master. The prosecutors rebut that claim and say that very little is actually privileged, because Cohen does almost no legal work for anyone.
As a result, the judge demanded that Cohen's team produce a list of his clients today. They came up with 10 names, 7 of which did not hire Cohen for any legal work. That leaves Trump, Elliot Brady (who got outed as a client last week by the WSJ) and the Mystery Client (Hannity).
If Cohen only has three clients, two of whom used him as a bag man for payoffs to mistresses, and a third who throws him under the bus immediately after his name is released as a client? Yeah, Cohen is pretty much screwed. His legal team can kiss bye-bye to the claim that most of the evidence ought to be protected by attorney-client privilege, let alone the idea that Cohen's team should get first crack.
It also doesn't help if the judge basically interprets Cohen as lying to the court to save his own skin... and that instead of showing up in court last week, he was out smoking cigars with his buddies, in full view of the press no less.
