Richard Nixon Was WAY Worse Than Anyone Thought

Richard Nixon

Forty years after the Watergate burglary, the Washington Post reporters who blew the lid off the scandal say that the scope President Richard Nixon's misdeeds was far worse than they originally thought. 

In a lengthy retrospective for this Sunday's Post, Carl Bernstein and Bob Woodward revisit the story that made them famous, and explain why Watergate was just a small window into the "massive campaign of political espionage, sabotage and other illegal activities" that were the "way of life" in Nixon's White House. 

The story is, in part, an attempt to debunk what Woodward and Bernstein view as the commonly accepted myth that the Watergate cover up was worse than the crime. Through a series of shocking anecdotes and recordings, the reporters reveal new details about the depth of Nixon's racism, paranoia, and corruption. 

Nixon approved a top-secret plan to increase electronic surveillance of anti-Vietnam War activists, authorizing the CIA, the FBI, and the military to intercept mail and lifting restrictions on break-ins.

Nixon's aides advised him that the plan was illegal, but the President approved it anyway. 

Ultimately, FBI Director J. Edgar Hoover rejected the proposal, but Nixon continued to obsess about these methods, and still implemented them often.

Source: Washington Post

Nixon had a vendetta against one specific anti-war protester, Daniel Ellsberg, who leaked the Pentagon Papers in 1971.

The publication of the Pentagon Papers in The New York Times sent Nixon into "rants and rages" recorded on his tape, according to Woodward and Bernstein. 

Although Ellsberg was already under indictment, Nixon ordered ex-CIA agent Howard Hunt and former FBI agent G. Gordon Liddy to break into Ellsberg’s psychiatrist’s office to find information that could discredit him in the anti-war movement.

Source: Washington Post

A year before Watergate, Nixon his aides break into the liberal-leaning Brookings Institute, which reportedly had a file on former president Lyndon B. Johnson?s handling of the 1968 bombing halt in Vietnam.

Although Nixon called for the break-in several times, it never happened, for unknown reasons.

Source: Washington Post

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SPOTTED: The Alcohol Safety Patrol Cruised Around Manhattan This Weekend

It seems that in the 1960s and '70s, police officers had very specialized beats.

Last weekend, our very own Meredith Galante saw a gaggle of vintage police cars on 34th Street in Manhattan, but there was one that really stuck out.

The photo below shows a car that was on the "Alcohol Safety Patrol." Presumably, he would be on the lookout for drunk drivers and any suspicious activity to keep the roads safe.

It's good to see that the police were very diligent about drunk driving 40 years ago.

Have you spotted a rare or unusual car/plane/train/boat/industry person in your travels? Did you take a photo? Do you like sharing?

If you answered yes to these questions, please send the picture to tokulski@businessinsider.com with the subject line "Spotted." Be sure to include where you saw it to be considered for our Photo of the Day.

Vintage Police Car

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THE APPLE INVESTOR: Get Ready For Ridiculous News Flow (AAPL)

The Apple Investor is a daily report from SAI. Sign up here to receive it by email.


newspapersAAPL Up Before WWDC  
Stocks are falling after morning highs on Spain's bank bailout. Shares of AAPL are up ahead of today's Worldwide Developer Conference (WWDC). Investors remain focused on iPhone penetration globally and the anticipated launch of the next generation in the fall; iPad adoption; market share growth of the Mac business as well as the upcoming refresh; the introduction of the anticipated Apple TV set; and platforms such as Siri, iAd and iBooks. Shares of Apple trade at 9.2x Enterprise Value / Trailing Twelve Months Free Cash Flow (including long-term marketable securities).

JOIN US TODAY FOR LIVE COVERAGE OF APPLE'S WWDC (Business Insider)
Apple's developer conference (WWDC) starts today. Tim Cook and other executives will take the stage at 1pm ET. Join us for live coverage of the event and related news flow.

iWallet Could Revolutionize Personal Banking (Cult Of Mac)
Apple is uniquely positioned when it comes to mobile payments. It designs and manufactures the iPhone, it creates and updates iOS, it already has an electronic payment system that it uses across its various online stores (iTunes, iBooks, and the Mac and iOS App Stores), and the company has been reinventing retail and payment technologies in its stores around the world. The only things Apple is really lacking is support from merchant point of sale systems and broader access to your finances to facilitate choosing an account for payments. So the idea of Apple as a bank isn’t as far-fetched as it may sound.

Apple Is Growing Like Gang Busters In Europe (FactSet via Business Insider)
According to data compiled by FactSet, Apple's second calendar quarter revenue in Europe is expected to surge 32.3% year-over-year. The fact that Apple is growing so strongly in Europe, where governments are drowning in debt and the population is struggling with historically high unemployment, is a bit surprising. Of the 10 largest companies offering a geographic break down of sales, Apple is just one of three reporting notable growth. The runner up is Intel climbing just 4.5%.

Meet Phil Schiller, The Guy That Can Keep Apple Cool (Bloomberg Businessweek)
Hinting at the trillion dollar question, can Apple become one of the world's first trillion dollar companies without its visionary leader, Bloomberg Businessweek does a great profile on Phil Schiller, Apple's senior vice president of product marketing. He helped Steve Jobs work through the meat-and-potatoes of creating new products: Defining target markets, determining technical specs, setting prices. "Because Phil’s title is marketing, people believe he’s focused on what’s on the billboards," says Gene Munster, an analyst with Piper Jaffray. "He’s much more important than people give him credit for." Internally, Apple employees call him "mini me" because he managed to "consistently" channel Steve Jobs.

Will Apple Release An SDK For Apple TV Apps? (BGR)
BGR has heard from a source that Apple will be introducing a TV SDK at WWDC this week. This would enable third-party developers to create software for Apple’s TV products. This is in addition to a new control API that will allow other entertainment devices in the living room to use the same remote as the Apple TV, and even connect through it. We’ll have to see, but it makes perfect sense. If Apple will eventually launch the much rumored HDTV, they’ll want to have apps to run on it. An SDK paves the way without showing too many cards.

Tablet Usage Hits Critical Mass (comScore via VentureBeat)
Just under 24% of smartphone owners in the U.S. used tablets during a three-month period ending in April, according to comScore. The figure jumped nearly 14-percentage-points year over year, and is especially impressive considering that comScore didn’t count single purpose e-readers as tablets. The data, which points to tablets hitting critical mass, should come as no surprise. Gartner predicted earlier in the year that tablet sales would balloon to 118.9 million units this year, 182.4 million units in 2013, and 369.2 million units in 2016.

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Do You Have a Financial Umbrella? (Half of You Just Answered 'No')

Financial straits How to make moneyQuick, without thinking too hard, answer this yes-or-no question: If you were faced with an unexpected $2,000 emergency expense in the next 30 days -- a car or home repair or a medical bill -- could you come up with the money to cover it?

According to the findings of a recent survey by the National Bureau of Economic Research, about half of you answered no.

In fact, the results led the study's authors to state, "We find that nearly half of Americans are financially fragile." How fragile? One quarter of respondents said they certainly could not come up with that amount of cash in 30 days; 19% said they would be able to cope, but only by selling or pawning some possessions or relying on payday loans.

If you're a glass-half-full person, maybe you like your odds and think it's unlikely that you'll be caught off-guard by a big emergency expense. Well, here's another way to think about it: What if a weatherperson said there was a chance of rain today and delivered that information alongside a computer graphic of a violent downpour? You'd probably grab your umbrella before you leave for work.

Financial emergencies are kind of like bad weather -- you don't always have a lot of warning before they strike. But if you have no savings umbrella, it's easy enough to forecast what would happen if a financial hurricane rolled through town. Here are potential scenarios:

Scenario No. 1: Replacing Your 20-Year-Old Transmission

As the owner of a 1997 Toyota 4Runner with 170,000 miles on it, this scenario is near and dear to my heart. So far, I've dodged this bullet. But let's say your trusty mechanic delivers the bad news.

A new transmission costs roughly $3,000. If you don't have cash on hand, it would cost you an extra $266 if you put it on a credit card, or $272.19 per month, assuming you take 12 months to pay the charge off a 16% APR credit card.

Don't have that line of credit available? Add an extra $1,286 to your $3,000 tab (for a total of $4,286) if you have to liquidate some of your retirement savings to cover the cost. The extra money would go toward paying Uncle Sam taxes on that $3,000, along with a possible early withdrawal penalty if you're under the age of 59½.

Scenario No. 2: Replacing your HVAC system

Due to Murphy's Law, heating and cooling systems always seem to die either on the hottest, steamiest August day or the most bone-chillingly frigid winter evening. In other words, there's no getting by for long while you wait to come up with the money to replace it.

Let's say a new HVAC system runs you roughly $5,000. If you didn't have the funds available, putting it on plastic pads your tab by $443 -- and that's assuming you can afford to pay $453.65 per month for the next 12 months to pay it off. The bill can easily double -- especially at 16% interest! -- if you extend your payoff period. As for dipping into your retirement savings, that brings the cost of replacing your HVAC to a whopping $7,143.

Scenario No. 3: Breaking your ankle

This one actually happened to me.

  • Emergency room co-pay: $100
  • Deductible: $1,500
  • Multiple physician co-pays and physical therapy sessions: $400
  • The story of how I broke my ankle: Priceless (If you have to know, playing tennis against a concrete wall and being clumsy.)
This little adventure cost me $2,000 out-of-pocket. Had I 2swiped plastic and not had the funds to pay when the bill arrived, it would have cost me $181.46 per month assuming it took me 12 months to pay off. If I had to liquidate some of my retirement savings, we'd be talking about shelling out $2,857.

Beat the Odds One Dollar at a Time

How does your emergency savings umbrella look? A bit torn? Disheveled? Completely nonexistent?

If scraping together a pile of cash sounds daunting, just start small. Take a close look at your budget, determine how much money you can afford to stash away each month, and commit to saving the money in a rainy-day checking, savings, or money market account.

Think of it this way: If you start socking away just $170 each month, one year from now you'll be better off than half of your American counterparts. An even better reason: You'll sleep well at night knowing that if an unexpected storm blows your way, you'll stay nice and dry.

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Source: http://www.dailyfinance.com/2012/06/09/do-you-have-a-financial-umbrella-half-of-you-just-answered-no/

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