001-098

Date: 
Thursday, April 15, 1971 - 7:26pm - 7:29pm
Participants: 
Richard Nixon, H.R. (Bob) Haldeman
Location: 
White House Telephone
Listen: 


 

President Nixon: Hello.

Operator: Mr. Haldeman.1

Bob Haldeman: Yes, sir.

President Nixon: Yeah. I think we, uh, might as well go ahead with that [Bernard] Lasker thing if they want to come down, because—2

Haldeman: Yeah, you got another five points today.

President Nixon: Yeah, the Dow really took a . . that's a hell of a big wallop too, you know.

Haldeman: They do want to. They've got a –

President Nixon: Did you see it's nine thirty-eight now?

Haldeman: Yup.

President Nixon: Nine thirty-eight.

Haldeman: Nine thirty-eight seventeen.

President Nixon: Which is a, this is a, this is the goddamnest bull market in history. Now if it goes down tomorrow, it doesn't make any difference.

Haldeman: During the day it had been up eight points, over eight points.

President Nixon: I know, but just five, Bob, listen —

Haldeman: Closed at five-point-six-two.

President Nixon: Yeah. What was the volume?

Haldeman: Uh . . . hmm.

President Nixon: It's irrelevant, sorry.

Haldeman: I don't have it.

President Nixon: Nevertheless, the point is, though, that let's strike it while it's hot. And —

Haldeman: I think –

President Nixon: — and show an expression of confidence, and if it drops tomorrow, it's all right, I mean, it's, they'll take a little profit-sharing, but this story will override the drop.

Haldeman: Yeah.

President Nixon: See?

Haldeman: Yeah. Well it's — they've got a basic statistic they can, you know, that's unassailable on the greatest bull market –

President Nixon: Yeah.

Haldeman: I think it's this quarter is the greatest bull quarter —

President Nixon: Yeah.

Haldeman: — in the history of the market.

President Nixon: That's right. Well they can also point out that [chuckles] that I advised this.

Haldeman: Oh, yeah.

President Nixon: And also, don't just take the time I did it publicly, but the time that I told them in the bowels of the White House —

Haldeman: Yeah.

President Nixon: — when it was six thirty-one.

Haldeman: Yeah.

President Nixon: I also told them to buy then, you know, when Izzy Cohen3 took me on, remember?

Haldeman: Yeah. Right.

President Nixon: Get down a good group, though. Get down the real wheels.

Haldeman: Well —

President Nixon: And tell Pete4 not just to — what's he want to do, just have Lasker?

Haldeman: Yeah.

President Nixon: Oh, God, well . . .

Haldeman: They felt they'd get into a prob — we can, we can —

President Nixon: I think you ought to — oh, I mean — I'd get people like Howard Stein,5 people like, I mean, Christ, I'd build the goddamn thing up.

Haldeman: OK.

President Nixon: What good is it to us just give it to Bunny? I mean Pete is always thinking about, I'm sure, that, well, it may be a nice thing for Bunny. Shit, we don't care what Bunny does.

Haldeman: No, no, he's nev —

President Nixon: Do you see what I mean?

Haldeman: Let me find out what the reasoning was.

President Nixon: Why not?

Haldeman: But that, their thought, what we'd originally talked about was getting, you know, four or five of them, the big wheels down.

President Nixon: And now you just want to do Bunny Lasker alone?

Haldeman: That's what they have now, yeah.

President Nixon: All right. It's OK. Just have him alone. That's fine.

Haldeman: Well let's see. It may be —

President Nixon: It may be you can't get the others. But if, if the whole group could come back it might give more of a feeling of, you know, of buoyancy than it does with just Bunny coming in, an old friend, a Republican, and going out now as a — you see what I mean?

Haldeman: Yeah.

President Nixon: I just think, I mean, you could get, you could get Gus Levy,6 he'd love it.

Haldeman: Yeah.

President Nixon: Just think what it's going to mean to some of those. Pete's got to think a little of that sort of thing, Bob.

Haldeman: Right.

President Nixon: See, what is it going to mean to some of the others? Gus Levy, some of these bastards that have been — it would mean a hell of a lot. And get Regan7 back again.

Haldeman: Yeah.

President Nixon: Get the big six or eight or ten or the members of the — not, not the members of the, uh, you know, the —

Haldeman: Not the board, but —

President Nixon: The board aren't worth a damn [unclear]. Just the biggest dealers.

Haldeman: Big wheels.

President Nixon: And a few of them come down, say, “Gee Mr. President, you're really something,” you know. The biggest . . .

Haldeman: Yeah.

President Nixon: Tell Pete to think more in those terms —

Haldeman: OK.

President Nixon: Do a little bit more, rather than just having a sad-ass picture of me and Bunny, you know, shaking hands and getting a bull.

Haldeman: OK.

President Nixon: OK.

Haldeman: Right.

President Nixon: Fine.

 

1 H.R. “Bob” Haldeman was White House chief of staff. (↑)

2 Bernard J. “Bunny” Lasker was head of the New York stock exchange. (↑)

3 Unidentified. (↑)

4 Peter M. Flanigan was a White House aide. (↑)

5 Howard Stein, head of Dreyfus Corp., was a Democratic fundraiser on Nixon's enemies list. (↑)

6 Gustave L. Levy was the former head of the New York stock exchange. (↑)

7 Donald T. Regan was head of Merrill Lynch. (↑)

Original tape courtesy of the Nixon Library. This transcript is a working draft. Please let us know if you find important errors.