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).
If that desk is the desk of a special counsel appointed under Republican pressure (it doesn't work if Lynch does it without the appearance of that pressure), the Democrats can hope to turn it into Ken Starr and the blue dress all over again. Crank up an audio loop of whining about "the politics of personal destruction," paint the special counsel as the newly discovered bastard son of Adolf Hitler and Darth Vader, and maybe the Clintons will come out of this thing more popular than ever like last time.
Yeah, it's a Hail Mary. But I think that's what they're up to.