In dealing with the coverup of the OptionSellers/INT FCStone financial scandal, I am reminded of the Watergate Scandal that brought President Richard Nixon down. Nixon was a good progressive President. He was a child who was reared in poverty and worked his way through college and law school, graduating from Duke Law School in North Carolina.

He then returned to California and practiced law. He got married to Patricia in 1940 and they had two lovely girls. He then got into politics and ultimately became Governor of California. However, he was ill at ease in social settings and had few close friends.

Nixon was a very successful President in his first term and was about to cruise to a landslide re-election over George McGovern, who got only 17% of the vote and the electoral votes of only Massachusetts and the District of Columbia.

However, the Watergate Scandal had been brewing. He had authorized a group know as the plumbers and lead by G Gordon Liddy (a former FBI Agent) to break in the headquarters of the Democratic National Committee in the Watergate office building. This was silly because the DNC had no information worth stealing.

A special Senate committee was appointed by Senate Majority Leader Mike Mansfield to investigate and hold public hearings It was chaired by Senator Sam Ervin, a self-styled ”country lawyer” from North Carolina. My boss Senator Herman Talmadge was appointed to serve on the committee. He was a former trial lawyer and one of the most effective cross examiners.

Since my offices, the Senate Agriculture Committee were next door to the Senate Caucus Room (where the hearings were held), I had a front row seat. Several key Nixon aides were charged with crimes, and some ultimately went to jail. One of these was White House Counsel John Dean. He was represented by Bob McCandless, an Oklahoma friend on mine and of J.D. Williams.

The point of my narrative is that if President Nixon had not engaged in a cover-up he would have served two full terms. He would have gone down in history as one of our better Presidents.

In the case of the Optionsellers/INT FCstone Scandal the current Chairman of the CFTC Heath Tarbert had nothing do with it. It occurred in the term of his predecessor, Christopher Giancarlo. However, he is allowing the CFTC to Cover it up. This is not in the best interest of either himself or the CFTC. I am talking to investigative journalists,  and I confident the truth will come out.

Michael R. McLeod