If the story ends there, there's no there there. Mudslinging and lies against an opponent are par for the course in American politics. One can find them morally reprehensible, but not criminal.
The story doesn't end though. The document is shopped around, perhaps by McCain or various Democrats.
The FBI or intelligence agencies possibly use the document as an excuse to wiretap/investigate Trump.
Susan Rice unmasks (spies) on Americans based on this document.
Multiple intelligence agencies investigate Trump based on this document.
If at any point anyone in this story knows it was a lie, they are guilty of violations that blow away anything Nixon did or even was accused of.
If only the Bushes knew, they come off as scum for not alerting the intelligence agencies and FBI.
The Clintons knew it was fake and at least lied to the media.
We don't know what Susan Rice, President Obama, James Comey and various other players knew or when they did know it.
Democrat and Republican Senators pushed for investigations based on lies. If any of them knew the document was fake, they should be impeached.
What did they know?
When did they know it?
Byron York: After Trump dossier revelation, FBI is next
The new Clinton/DNC/Perkins Coie revelation will likely increase pressure on the FBI to explain what it did, and did not do, with the dossier. Certainly Nunes hopes that is the case. When I asked Nunes Tuesday night what would happen next with the FBI, he responded, "Their best option at this point is to bring all the documents tomorrow to the Capitol."
Of course, he won't be holding his breath.
Republican investigators had two big questions about the dossier. One was who paid for it, and that now seems answered. The other was: Did the FBI or other agencies use any information from the dossier as a basis for warrant requests before the Foreign Intelligence Surveillance Court? In other words, did, say, the FBI use the dossier's "salacious and unverified" information to make the case that the bureau should be granted the authority to conduct intercepts?
Nunes, as well as Grassley and Senate Judiciary Committee colleague Lindsey Graham, R-S.C., have been pushing for months for the FBI to answer that question. So far, they've gotten nothing.