Richard M Nixon in office 1969 to 1974 when he was forced to resign or face impeachment charges.
Nixon used/prolonged the Viet Nam War for purely political reasons. He was unconcerned with the death of anybody, his only concern was the power of the office of president. He was, by definition, a sociopath.
He suffered a debilitating stroke on April 18, 1994, and died four days later at the age of 81. Surveys of historians and political scientists have ranked Nixon as a below-average president.
Price of Oil
Remember the Viet Nam war? [1 November 1955 to 30 April 1975] While we were involved with the Viet Nam (somebody figured) we needed a ‘friend’ in the middle east so we didn't have to be concerned with what went on there. Our ‘friend’ was the Shaw of Iran. The Shaw needed lots of arms and at the time and couldn't pay for them. Oil was going for about $5 a barrel and the CIA thought the Shaw should have lots of military equipment. So Henry Kissinger (National Security Adviser under Nixon) had this wonderful idea. If the Shaw could get more for the oil then he could afford to buy the arms he needed from; so Kissinger had a lot to do with the forming the oil cartel in the middle east to raise the price of oil. Then, as the Shaw got more money he got more independent & he didn't rely on the US and turned into some sort of megalomaniac tyrant.
Franklin National Bank
1974
In the first five months of 1974 the bank lost $63.6 million. The Federal Reserve stepped in with a loan of $1.75 billion. xxxxxx/content dot time dot com/time/subscriber/article/0,33009,944999,00.html/ [link now missing] full article
Lockheed Bailout
1971
1.4 billion
In August 1971, Congress passed the Emergency Loan Guarantee Act, which could provide funds to any major business enterprise in crisis. Lockheed was the first recipient.
Penn Central Railroad
U.S. Gov't Bailouts
1970
by Jesse Nankin, Eric Umansky, Krista Kjellman Schmidt and Scott Klein Sept. 18, 2008,
3.2 billion
In May 1970, Penn Central Railroad, then on the verge of bankruptcy, appealed to the Federal Reserve for aid on the grounds that it provided crucial national defense transportation services. The Nixon administration and the Federal Reserve supported providing financial assistance to Penn Central, but Congress refused to adopt the measure. Penn Central declared bankruptcy on June 21, 1970, which freed the corporation from its commercial paper obligations. To counteract the devastating ripple effects to the money market, the Federal Reserve Board told commercial banks it would provide the reserves needed to allow them to meet the credit needs of their customers. full article if it is still there.
1970 Nixon signed the Rail Passenger Service Act creating “Amtrack”. The Amtrack improvement act of 1973. It said that passenger service had preference over freight, but in fact, it never happens.
