Watergate. One thing that Watergate did was significantly alter the public's view of politicians in general. Until then, most people believed that certain politicians were corrupt/liars. AFTER Watergate, most people believed that most, if not all politicians were corrupt/liars. Changed the entire scope of how we view politics, government, and elected/appointed officials. Though Iran-Contragate may have been more significant from a legal standpoint, Watergate had more far reaching implications.