The Vast Right Wing Conspiracy [TM] line on said encounter goes something like this: It was an unethical consultation -- maybe even essentially a plea bargain talk -- between Clinton and Lynch, with Clinton lobbying for leniency or even an official cover-up on behalf of either his wife (Servergate) or himself (corruption at the Clinton Foundation).
My theory: The whole episode was intentionally contrived, for the express purpose of giving Lynch an excuse to -- "reluctantly, under pressure from the Republicans" -- appoint a special counsel and recuse herself (and by extension the Obama administration) from the coming shitstorm or shitstorms.
Think about it: At some point, possibly in the very near future, the FBI is going to drop a stack or stacks of paperwork marked "case for seeking indictments" on someone's desk.
If that desk is Lynch's, she has to choose between being
- The Democratic Attorney General who's prosecuting a former Democratic president and a Democratic presidential candidate (very unpopular with Democrats); or
- The Democratic Attorney General who's giving free passes to a former Democratic president and a Democratic presidential candidate (sun shines, Republican hay makes itself).