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Maybe the FBI was going after bigger fish or others involved in criminal activity on U.S. soil. It's not uncommon for law enforcement to let the ploy continue in order to see where or who it leads to.
I don't buy that at all. What fish is bigger than the US president? Furthermore, how could anyone allow a willing asset continue to be president? Too much at risk. Some low life staffer perhaps, but not the most powerful person in government.
Maybe he's not a willing asset. Maybe he's an unwitting co-conspirator. Either way, it doesn't bode well for a newly elected President to be under investigation either because:
a) he knew what was going on and willing participated;
b) he knew what was going on but turned a blind eye to it;
c) he knew what was going on but gave no concrete direction so as to claim "plausible deniability";
d) he knew what was going on but was being blackmailed thus, failed to come forward with what he knew to federal agents;
e) he didn't know what was going on but should have as the central candidate for his campaign
None of the above would bode well for Pres. Trump if the FBI has evidence on his cooperation with Russian agents/oligarchs and have reason to believe he took no action to stop members of his campaign from working with Russians.
The plot thickens...the story continues.
At best he is a useful idiot of Putin. Vlad feeds his ego by complimenting him, then tells him what he prefers in treatment of Russia. Trump goes along because his ego has been stroked. He really is very easy to manipulate.
I'm sticking with the idea that Trump is not a willing asset of Russia.