MSNBC's O'Donnell backs away from Trump-Russia report

MSNBC host Lawrence O'DonnellLawrence O'DonnellSen. Blumenthal calls Trump's defense an 'insult to all of our intelligence' Woodward: Trump testing how far people will go along with him Twitter users urge MSNBC's Steve Kornacki to donate his beat-up necktie to Smithsonian MORE on Wednesday backed away from his previous night's reporting on alleged financial ties between President TrumpDonald TrumpVeteran accused in alleged border wall scheme faces new charges Arizona Republicans to brush off DOJ concern about election audit FEC drops investigation into Trump hush money payments MORE and Russian oligarchs, saying he had made "an error in judgment" and that he had been wrong to report the story.

"Last night I made an error in judgment by reporting an item about the president’s finances that didn’t go through our rigorous verification and standards process," O'Donnell tweeted. "I shouldn’t have reported it and I was wrong to discuss it on the air. I will address the issue on my show tonight."

His statement comes after an attorney for Trump demanded MSNBC retract the report, which alleged that the president had taken out loans from Deutsche Bank with Russian oligarchs as co-signers.