'Deep Throat' To Deep Pockets?

Joan Felt and her father W. Mark Felt wave to the media gathered in front of their home Tuesday, May 31, 2005, in Santa Rosa, Calif. Felt claims he was "Deep Throat," the long-anonymous source who leaked secrets about President Nixon's Watergate coverup to The Washington Post, his family said Tuesday.
AP
"Deep Throat" could become deep pockets if he can pull together a compelling story of his role as a source on Watergate for The Washington Post.

Publishing industry sources interviewed by The Wall Street Journal said that W. Mark Felt's tale could fetch a book advance of more than $1 million.

But in order to get that kind of money, the former FBI official will have to convince publishers he has taut, suspenseful tale to tell.

"What he's got to do is team up with a writer known for suspenseful narratives," literary agent Richard Pine told the Journal. "He'll need a writer that a publisher knows will deliver a good tale in the right way."

In the past, Felt expressed reservations about revealing his identity, and about whether his actions were appropriate for an FBI man, his grandson said on Tuesday. However, his family members thought otherwise and were behind convincing him to come forward, reports CBS News Correspondent Wyatt Andrews.

His daughter, Joan, also argued that he could "make enough money to pay some bills, like the debt I've run up for the children's education."

At age 91, after decades of hiding his role as The Washington Post's tipster from politicians, the public and even his family, Felt finally told his secret to a lawyer his family had consulted on whether Felt should come forward.

The attorney, John O'Connor, then wrote a Vanity Fair magazine article revealing Felt's disclosure, and within hours of the story's release Tuesday, Felt's family and the Post confirmed it.

"I'm the guy they used to call Deep Throat," Vanity Fair quoted Felt, the former No. 2 man at the FBI, as saying.

On CBS News' The Early Show, O'Connor said that Felt told The Washington Post's Bob Woodward and Carl Bernstein because he was sworn to uphold the law and that those around him were obstructing the investigation he was trying to do.

"He knew that everyone else was obstructing this investigation, and he had to go around the power structure that was doing the obstruction," he told Early Show co-anchor Harry Smith.

O'Connor added that Felt now thinks he did the right thing.

"Over the last I'd say six to nine months he's come to accept himself as a hero," O'Connor said.

"It's the last secret" of the story, said Ben Bradlee, the paper's top editor at the time the riveting political drama played out three decades ago.

Felt lives in Santa Rosa, Calif., and is said to be in poor mental and physical health because of a stroke. His family did not immediately make him available for comment, asking the news media horde gathered outside his home to respect his privacy "in view of his age and health."