"Nichols is dreaming"
Yep. If something bad enough was out there to take her down it would have already come out.
I suspect he's just using the line of some damaging info as advertising for his radio show, hence the suspense of making everyone wait for the prized info.
My point is that no matter how deviant her behavior, it would be portrayed in the media as a strength. When it was proven that he'd dallied with Monica, his sycophants defended his behavior by saying, "There's a little of Bill Clinton in all of us."