D.C.'s Watergate Hotel draws no bids at foreclosure auction

Perhaps one of you clever people could come up with a sharp quip or two about Nixon going off the Gold Standard, the current recession, or some other economic or political observation. My poor old brain is a bit tired here....I sense a bit of irony with this, but I'm not sure exactly where...

WASHINGTON — The Watergate Hotel, the iconic property synonymous with the downfall of President Richard Nixon, failed to attract any bids when it was auctioned Tuesday.

Joseph Cooper, who wielded the gavel, seemed surprised when there was silence after the auction opened at $25 million.

"It's a Washington landmark," said Cooper, the president of Alex Cooper Auctioneers, after calling the bid a few times.

Still, no one called out a higher amount

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