The Watergate Scandal and Today’s Financial Markets
I’ve always enjoyed a good political scandal. There’s something sort of satisfying in seeing powerful people get caught out. Sex scandals in particular. Remember Wilbur Mills and the Argentine Firecracker? You can’t make this stuff up.
The Watergate scandal of the 70’s has come to mind lately, and how it seemed to drag on and on. As I look at the current scandals in Washington (Hillary’s emails; the FISA Court), I began to wonder what happened to financial markets during Watergate, and whether there are any lessons for us today? I decided to do some research to find out.
Please note: I mean to observe historical facts here, and see if I discern any financial market parallel responses to political scandal. Although it is my objective to stay away from political opinion, please forgive any transgressions.
President Nixon was running for a second term. The Vietnam war raged on....