10 Big Fat Lies and the Liars Who Told Them

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5. President Ronald Reagan on the Iran-Contra scandal

US President Ronald Reagan tells reporters that "I'M not taking any more questions," during a news conference in the White House briefing room, Nov. 25, 1986. The news conference was on the mounting controversy over his decision to sell arms to Iran. Reagan announced to reporters the resignation of national security adviser Vice Adm. John Poindexter and the firing of Poindedxter's aide Lt. Col. Oliver North. (AP Photo/Bob Dougherty)

US President Ronald Reagan tells reporters that "I'm not taking any more questions," during a news conference in the White House briefing room, Nov. 25, 1986. (AP Photo/Bob Dougherty)

“In spite of the wildly speculative and false stories of arms for hostages and alleged ransom payments, we did not, repeat, did not, trade weapons or anything else for hostages. Nor will we.”

President Ronald Reagan, November 13, 1986

The Iran-Contra affair broke when it was revealed that the US government had covertly sold weapons to Iran in spite of an embargo. More illegal still, a portion of the money from the sales was directed to anti-communist rebels in Nicaragua, which Congress had explicitly banned the administration from funding. It remains up for debate how much President Reagan personally knew about the operation, but he had become “frustrated” by a group of Iranian terrorists holding seven Americans hostage in Lebanon, and may have been trying to curry favor with them. In March 1987, he appeared on television and said: “A few months ago I told the American people I did not trade arms for hostages. My heart and my best intentions still tell me that’s true, but the facts and the evidence tell me it is not. As the Tower board reported, what began as a strategic opening to Iran deteriorated, in its implementation, into trading arms for hostages.”

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