5 May 1977: David Frost's 'Nixon Interviews' are broadcast

Millions tuned in to watch disgraced former US president Richard Nixon reveal the truth behind the Watergate scandal to British broadcaster David Frost, on this day in 1977.

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

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up

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.

Chris Carter
Wealth Editor, MoneyWeek

Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.

Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.

You can follow Chris on Instagram.