The longest bull market run in American history could get killed off by a financial collapse in Turkey, a policy mistake by the Federal Reserve or a plain old economic recession.

It will probably not be slain by an impeachment of President Donald Trump.

That’s the consensus view of Wall Street traders and money managers, who say that while an ugly impeachment fight might cause temporary volatility, markets could easily survive an impeachment and even the unlikely event that Trump is removed from office in a Senate trial.

In fact, Wall Street pros often talk about a potential relief rally if Trump departs the White House early.

The underlying economy would remain strong, and a hypothetical President Mike Pence would likely continue Trump’s policy of low taxes and fewer regulations without all the wild tweeting and investigations and persistent trade wars.

“I’m not sure the market would be all that upset by Trump being forced to leave,” said Jim Paulsen, chief investment strategist at the Leuthold Group. “Many Republicans might welcome it, and if Pence moves in, the basic low regulation, low tax nature of the presidency would be the same, only without the constant self-induced volatility, and maybe ‘trade wars’ would diminish.”

Trump took a very different view in an interview with Fox News that aired Thursday morning, saying the stock market likely would collapse if he were impeached.

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Michael Cohen, the former longtime fixer and personal attorney for Donald Trump, appeared in federal court Tuesday afternoon, pleaded guilty to eight counts and said in open court that he made illegal campaign contributions “in coordination and at the direction of a candidate for federal office.”

The campaign finance violations are associated with Cohen’s role in alleged hush money agreements with two women, Stormy Daniels and Karen McDougal, who claim to have had affairs with Trump.

The “candidate” Cohen referred to was not named in court but the criminal information identifies Cohen as the personal attorney “to Individual-1, who at that point had become the President of the United States.”

The information states that Cohen made a contribution to “Individual-1” and “did so by making and causing to be made an expenditure, in cooperation, consultation, and concert with, and at the request and suggestion of one or more members of the campaign, to wit, COHEN made a $130,000 payment to Woman-2 to ensure that she not publicize damaging allegation before the 2016 presidential election and thereby influence that election.”

“I participated in this conduct for the principal purpose” of influencing an election, Cohen said.

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Paul Manafort, Donald Trump’s former campaign chairman, has been found guilty on five counts of tax fraud, one count of failing to disclose his foreign bank accounts and two counts of bank fraud.

The jury was unable to reach consensus on 10 of the 18 counts in the bank fraud trial of former Trump campaign chairman Paul Manafort. Judge T.S. Ellis III will declare a mistrial on the 10 unresolved counts but is accepting the jury’s verdict on the remaining eight counts. Ellis decided there was “manifest necessity” to proceed.

When the verdict was read, Manafort stood before the judge without flinching, his hands folded beneath his waist. He appears to have lost weight in recent weeks.

Manafort faced 18 counts — five counts related to false income tax returns, four counts of failing to file foreign bank account reports, four counts of bank fraud and five counts of bank fraud conspiracy. The government alleges Manafort hid tens of millions of dollars in income and falsified records to enrich himself and live a life of luxury.

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For years, it was Michael Cohen’s job to protect Donald Trump from damaging stories and allegations. Now, the president’s former personal attorney and “fixer” appears to be the one threatening Trump with potentially incriminating information.

No longer willing to “take a bullet” for Trump, Cohen is reportedly willing to tell special counsel Robert Mueller that Trump knew in advance about a Russian offer to deliver dirt on Hillary Clinton ahead of the 2016 election.

Cohen turning against Trump could prove significant because, in addition to information he may or may not have about alleged election meddling and collusion, Cohen also handled payments to women in exchange for their silence about alleged affairs with Trump.

Here is what we know:

Cohen is prepared to tell Mueller that Trump approved a June 2016 meeting at Trump Tower that included his son Donald Trump Jr. and a Russian lawyer Natalia Veselnitskaya, according to multiple media reports that relied on unnamed sources.

A person familiar with the matter told USA TODAY Cohen is aware that Trump was informed in advance of the Trump Tower meeting.

Veselnitskaya’s offer to hand over dirt on Clinton has been a major factor driving suspicion that the Trump campaign went along with Russian efforts to sway the election.

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Presidential candidate Donald Trump is heard on tape discussing with his attorney Michael Cohen how they would buy the rights to a Playboy model’s story about an alleged affair Trump had with her years earlier, according to the audio recording of the conversation aired exclusively on CNN’s “Cuomo Prime Time.”

The recording offers the public a glimpse at the confidential discussions between Trump and Cohen, and it confirms the man who now occupies the Oval Office had contemporaneous knowledge of a proposal to buy the rights to the story of Karen McDougal, a woman who has alleged she had an extramarital affair with Trump about a decade ago.

Cohen told Trump about his plans to set up a company and finance the purchase of the rights from American Media, which publishes the National Enquirer. The recording captures what appears to be a routine business conversation of several matters on their agenda. The audio is muddled and the meaning of Trump’s use of the word “cash” is disputed by the two sides.

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