Trump is 'making fraud great again': MSNBC's Nicolle Wallace

MSNBC host Nicolle Wallace and her Thursday panel called out President Donald Trump for his long history of fraud when it comes to his net worth.

In an extensive report, Trump was outed for documents that revealed he inflated the size of his buildings, the acreage of his winery and neglected to mention anything he owed debt on. Trump has long described himself as a billionaire, but documents say otherwise.

"We focus on documents called state of financial condition," said Washington Post reporter David Fahrenthold. "The reason we care about them is they seem to be in the middle of inquiries now on Capitol Hill and New York state. They both stem out of what Michael Cohen said, and you played some of that tape Cohen said Trump would send these statements out to potential lenders, to insurers to say, 'Look, I'm a rich guy.' This was a written-down, official looking version of a brag. 'I'm so rich, you should do business with me. You should give me money.'"

There are rules about what can be said to lenders and insurers on official documents and Fahrenthold said that in many of these cases, they were lies.

He noted that it's a long way from finding out if there's a crime, but there are absolutely questions about Trump as well as Deutsche Bank as a company.

The House Oversight Committee has asked for the documents over the last ten years so that they can look into possible fraud.

"People go to jail for this stuff every day," said Mimi Rocah. "There's a whole series of criminal statutes that could apply."

"Making fraud great again?" asked Wallace.

Former Undersecretary of State Rick Stengel said that Trump lies about these things not because it's in his interest but because it's in his nature.

"That is Donald Trump. He lies about everything," he said. "He has corrupt intent about everything. Yes, why does he have to make Trump Tower ten stories higher? Because he has to say he's 6'3" instead of 6'2" This is part of the reason -- and I will do a little bit of a dogleg here, why the Mueller report was unable to come up with collusion. I know I have been on the show and talked a lot in the past collusion would be part to prove they had corrupt intent both sides. The problem was they were in incompetent. Coordination wasn't established because they're uncoordinated. It's a corrupt organization. They're incompetent."

Trump is currently under several financial investigations in the Southern District of New York.

Watch the panel discussion below: