Readjustments may be more common than actual reforms in criminal justice systems. An example of such processes of readjustment is the sentencing of white collar offenders before and after the unique historical experience of Watergate. Data from one of the most prominent Federal district courts show that changes did occur in sentences imposed before (in 1973) and after (1975) Watergate, but with offsetting results. After Watergate, persons convicted of white collar crimes were more likely to be sentenced to prison, but for shorter periods of time, than less educated persons convicted of common crimes. An analytic technique that corrects for sample selection processes shows that these effects cancel out one another. This paper provides examples of the token kinds of prison sentences assigned after Watergate to white collar offenders in several highly publicized cases and areas of enforcement. 4 tables, 32 references. (Author abstract modified)