re: FBI working to soften potential blow if top-secret informant exposed

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There is nothing really "earth shattering" about Halper in particular. No average American has ever heard of him. I think what's earth shattering is the fact he was being used by CIA/FBI to infiltrate the campaign (even though he was never really "in" the campaign). Halper has close ties to MI6 and CIA (his father-in-law was a well known CIA official) and Halper himself worked for Nixon and Reagan in foreign policy roles.

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My understanding is that Halper offered money and requested meetings multiple times to both Page and Papadapalas. The theory is that he fed Papadapalas the info about Russia having Hillary's emails, then Pap blabbed about it in the bar to the Australian Clinton Foundation donor. Who then alerted the US authorities.

tldr: Papadapalas was setup, fed intel about Russia, in order to justify the FISA warrants.