Here is a concise summary of the provided transcript:
**Subject:** The Late Show with Stephen Colbert discussing a leaked Trump-Cohen tape
**Key Points:**
1. **Tape Context:** A leaked tape from Sept 2016 features Donald Trump and his lawyer Michael Cohen discussing how to pay Karen McDougal, a Playboy model, to keep quiet about an alleged 10-month affair with Trump.
2. **Payment Method Debate:** Trump's team (Rudy Giuliani) claims Trump suggested **not** using cash, while others interpret the tape as indicating the opposite.
3. **Implications:** The tape contradicts Trump's previous denials of knowing about the payment ($150,000 to McDougal via the National Enquirer's owner, David Pecker).
4. **Reactions:**
* Giuliani: Downplays the tape's significance, questioning Trump's suggestion of cash.
* Lanny Davis (Cohen's lawyer): Believes the tape incriminates Trump, highlighting the unusual use of cash.
5. **Broader Questions:** The existence of more tapes (reportedly 12) and the implications of the payment (hush money) are raised, with the currency method (cash vs. check) being a secondary debate point.
Here are the extracted key facts, numbered and in short sentences, excluding opinions:
1. **Show Context**: The text is a transcript from "The Late Show" hosted by Stephen Colbert.
2. **Topic Introduction**: The discussion revolves around a controversy involving Donald Trump and Karen McDougal.
3. **Karen McDougal's Claim**: Karen McDougal, a Playboy Playmate, claims to have had a 10-month affair with Donald Trump.
4. **Payment to McDougal**: McDougal sold her story to the National Enquirer for $150,000.
5. **Trump's Denial**: Donald Trump denies the affair and any knowledge of the payment.
6. **Cohen-Trump Tape**: A secretly recorded tape from September 2016 between Trump and his lawyer, Michael Cohen, was obtained by CNN.
7. **Tape Content**: The tape discusses paying for Karen McDougal's story to prevent its publication.
8. **"Our Friend David"**: "David" refers to David Pecker, the owner of the National Enquirer.
9. **Rights to McDougal's Story**: At the time of the tape, David Pecker already had the rights to McDougal's story.
10. **Trump and Cohen's Plan**: They wanted to buy the rights from Pecker to keep the story from being published.
11. **Payment Method Discussion**: There is a discussion about how to pay Pecker, with a mention of using cash or another method.
12. **Giuliani's Defense**: Rudy Giuliani claims Trump said "don't pay with cash," though the tape's audio is hard to hear.
13. **Number of Tapes**: There is a mention of possibly 12 secret Trump-Cohen tapes.
14. **Cohen's Lawyer Statement**: Lanny Davis, Cohen's lawyer, believes the released tape incriminates President Trump.
15. **Legal Debate**: The debate among lawyers is not about whether hush money was paid, but rather the method of payment.