The Manhattan DA will not charge Donald Trump for alleged tax and real estate fraud, according to a new report, and Fox News legal analyst Gregg Jarrett told "Hannity" that the media’s assumption that the former president would be put behind bars was always foolish.

JARRETT: So much for all the breathless reporting that Donald Trump would be criminally charged and wearing an orange jumpsuit, peering behind steel bars. Reporters who relied on a notorious liar like Michael Cohen and his prediction of Trump's imprisonment now look like the chumps that they are…

It was always a fool's errand to try to go after somebody like Trump for tax and real estate fraud because HE doesn't fill out his taxes, he doesn't fill out loan applications. He relies on the expertise, the counsel and advice of a team of professionals like lawyers and CPAs and tax accountants and real estate experts. It's exceedingly difficult for the government to prove the intent necessary for fraud if you are relying on the expertise of professionals. 

So here we have years of an intrusive investigation of Donald Trump. And all you've got, to use Fischett’s term, is "pretty small stuff." So the lesson is twofold. One, if you rely on a notorious con artist, crook and liar like Michael Cohen, you're a fool. And if you rely on the media for truth and accuracy about Donald Trump, you're twice the fool. 

WATCH THE FULL INTERVIEW BELOW: