On 5 May 1977, the first of the Nixon Interviews was broadcast. "Perhaps there is a little bit of history in the making", noted The Times television section for that day in understated fashion, "when the smooth David Frost starts his series of the Nixon Interviews (BBC1 9:25) with the former president".
Like a chastened schoolboy, former US president Richard Nixon, once the most powerful man on the planet, sat before British broadcaster David Frost. "There are three things I'd like to hear you say", scolded Frost, fishing for an apology. "People need to hear it and unless you say it, you're going to be haunted for the rest of your life."
This was Nixon's bare-all moment, and it was the biggest scoop of Frost's career. Nixon was paid £380,000, plus 10% of any profits from sales, to come clean on Watergate, the political scandal of the century. The interviews attracted the highest ever viewing figures for a political interview – a record that still stands.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Watergate had shaken the political establishment of the United States to the core. In June 1972, with the president's full knowledge, the offices of the opposition Democratic National Committee at the Watergate complex in Washington DC were raided for intelligence, while listening devices were concealed.
But the agents tasked with breaking in were caught red-handed, and the subsequent investigation followed a dirty trail all the way back to the White House. Nixon had no choice but to resign.
Sitting in the hot seat, Nixon did apologise for the cover-up, but famously excused himself from having committed any crime, because "when the president does it, it means that it's not illegal". Nixon had already been pardoned by his successor, Gerald Ford.
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
-
31 August 1957: the Federation of Malaya declares independence from the UKFeatures On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
-
13 April 1960: the first satellite navigation system is launchedFeatures On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
-
9 April 1838: National Gallery opens in Trafalgar Square
Features On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
-
3 March 1962: British Antarctic Territory is created
Features On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
-
8 March 1817: the New York Stock Exchange is formed
Features On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
-
7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.
