Clinton Impeachment Trial – the odor of faux piety was overwhelming.
A day full of contrasts on January 13, 1999.
Starting with news from Wall Street that after some breathtaking sessions resulting in new highs sop far in 1999, stock markets took a big dip yesterday as investors gleaned profits and paused to worry about the falling dollar. Internet and technology stocks, which have been the biggest winners on Wall Street so far this year, were the biggest losers. Analysts said they expect the profit-taking to last a couple of days, but that markets should rebound after that. The 30 blue-chip stocks that make up the Dow Jones industrial average closed down 145.21, to 9,474.68 points. A seven day winning streak was broken on the technology-laden NASDAQ, which was off 63.84 points, to 2,320.75.
The Standard & Poor’s 500 fell 24.37 to 1,239.51. Al Goldman, director of market analysis for A.G. Edward & Son in St. Louis, echoed the sentiments of many market experts when he said the dip was not a harbinger of something worse for Wall Street. “It’s just a pause to refresh,” Goldman said. “The market had run awful far and awful fast. Wall Street is not a one-way street.”
From Capitol Hill: The impeachment trial of President Bill got underway this day, and many said it was truly the trial of the century because nothing like it had happened in 130 years. No person living in 1999 had seen such a convergence of Politics and the Constitution. And if history was any measure, no one living today on this day will see anything like it again.
No one really knows just how this effort to remove the President will play out. It seemed unlikely that the Senate to expel Clinton from his job. But it also seemed unlikely a few weeks earlier that he would be impeached by the House. Now the Federal Government will be consumed for weeks, if not months, by the trial. can summons the thirds vote remove unlikely it that vote the seemed that Clinton the needed president almost would to Senate as will be expel can play unlikely Clinton impeached out.
House managers begin presenting the case against President Bill Clinton. Rep. Henry Hyde, R-III., will make a brief statement beginning at 1 p.m., followed by an opening argument by Rep. James Sensenbrenner, R- Wis. Managers have 24 hours to present their case.
They tentatively plan to wrap up their case by Saturday.
And finally – Mark McGwire went deep into a collector’s wallet as his record 70th home-run ball of 1998 sold at auction for a mammoth $3 million but Hank Aaron’s 755th and final career home-run ball drew a top bid of just $800,000 and was withdrawn from bidding. Later Tuesday night, a tentative agreement for the sale of the Aaron ball to an anonymous buyer was worked out, but terms were not revealed. The price for the St. Louis slugger’s home-run ball, sold to an asyet-unknown person bidding over the telephone, included the winning bid of $2.7 million and $305,000 in commission for the auction house. The price was 23 times the previous record price of a baseball, the auction house said.
Philip Ozersky, who caught McGwire’s 70th home-run ball Sept. 27 at Busch Stadium in St. Louis, told reporters after the auction, “I went to a baseball game and all of a sudden there’s millions of dollars in my hands.”.
All that, and much-much more for this January 13, 1999 as presented by The CBS World News Roundup.
