Read the whole conversation and the theory goes like this. Nixon did not know who ordered the burglary. He was told the FBI’s trail ran through Mexico and might expose sensitive matters, including the Bay of Pigs. A president is entitled to ask the CIA whether an investigation touches its operations. [1][3]
The plan also failed almost at once, without Nixon stopping anyone. The CIA said it had no stake, and on 6 July 1972, when Gray warned him that people on his staff were trying to wound him, Nixon told Gray to go ahead with his investigation. The FBI kept working. [2]
On this reading, the tape captures a few minutes of political damage control by a president being given bad information by his aides. It was treated as decisive because by August 1974 Washington had already decided against him.
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