Rebekah Brooks and Andy Coulson, two top editors at the now-defunct paper News of the World, have been indicted in the phone-hacking scandal that caused the paper’s shutdown and rocked Rupert Murdoch’s News Corp empire. Coulson, before stepping down last year, was actually the communications director for British Prime Minister David Cameron. Five News of the World journalists were also indicted.

Watching the fall of Rupert Murdoch play itself out has brought back old, old memories. Memories of the only political scandal I’ve experienced in my homeland that comes even close to what’s been unfolding in the UK right now: Watergate. And to judge from this British piece and this Canadian one, I’m not the only person to be thinking of Watergate in connection with all of this.

The Bush administration told taxpayers to hand over hundreds of billions of their hard-earned dollars to bail out Wall Street banks because the financial institutions were too big to fail. Now, Rupert Murdoch, owner of politically powerful publications and broadcast stations, claims his News Corp. is too big to know.