Long-time CBS News anchor Dan Rather was floored on Monday by President Donald Trump's latest scheme to give out $1.776 billion to allies who claim they were unjustly prosecuted by the Biden administration. Rather wrote in a new essay for his Substack, "Steady," that Trump's fund is just another example of the president "looting the country in plain sight." While the impact of the move on taxpayers is easy to see, Rather noted that it could also leave Republicans holding the bag when the November midterms roll around. The fund, which was established by the Department of Justice as part of Trump dropping his $10 billion lawsuit against the IRS, is part of Trump's "interconnected web of corruption," Rather added. It will be overseen by a five-member panel that Trump has sole authority to hire and fire, and the panel's bylaws state that the government cannot be held accountable for any crimes that are committed after the money is transferred. Rather argued that the level of corruption the Trump administration has displayed is "astounding," yet it is likely not enough to thwart the onslaught voters are expected to deliver to Republicans during the midterms. "Trump’s capacity to misuse his office for personal gain is astounding and it is blatantly wrong," Rather wrote. "But it is not without consequences. The New York Times released a new poll Monday that shows that the president is vastly unpopular and that he is losing support, even from his base."He noted that Trump's approval rating has sunk to 37% because of the economy and the war in Iran. That mark is a historic low for a president at this point in his administration, and it portends something ominous for Republicans. "This is not the kind of poll Republicans want to see less than six months before the midterms. And Trump’s continued grifting doesn’t figure to help their cause, no matter how often they redraw the maps," Rather wrote.