It was one of the iconic images of Reagan era Washington.

One of the presidents for Top Aids, Michael Deaver, posing for a time magazine cover story

in a chauffeur-driven Jaguar, phone and hand, capital dome in the background.

The editors of Time had chosen Deaver as the emblematic figure for what they saw as

a new breed of Washington influence peddlers, crassly raking in big bucks by selling their

proximity to power, caching in on top connections ran the headline over a profile of Deaver.

The news last week that Michael Cohen, president Trump's longtime personal lawyer and fixer,

had collected over $2 million in fees from big corporations like AT&T and Novartis, as

well as the American arm of a giant Russian firm owned by a pro-Putin Olegar, seemed

to shock official Washington.

But the capital has seen many different versions of this story before, and the Michael

Deaver story is among the more memorable examples.

We'll look back at his case and what it tells us about what could end up happening to

Michael Cohen on this week's buried treasure.

I'm Michael Isagov, Chief Investigative correspondent for Yahoo News.

And I'm Dan Clydeman, Editor-in-Chief of Yahoo News.

You know, Dan, there was a lot of talk after that famous Time Magazine cover story of what

exactly Deaver had done wrong. He had left the White House a year before to become what he

termed a public affairs consultant, and before long was collecting hefty six-figure retainers

from the likes of big companies like CBS and TWA, as well as foreign governments like South

Korea and Singapore, but his real crime was flaunting it.

Posing for that photo and then telling time, quote, there's no question I've got as good

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