Diary of a Bear Market

Issue 32| From Nixon's fall to Wall Street's collapse

In August 1974, the United States was shaken by the unprecedented resignation of President Richard Nixon. Facing near-certain impeachment over the Watergate scandal, Nixon announced on August 8 that he would step down, becoming the first American president to resign.

"The final hours had more than their share of Shakespearean scenes. Nixon choking back s…