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...unfortunate effect of the current fiasco is that Casey's widely recognized revitalization of the CIA is suffering a severe jolt. Casey has hiked the agency's budget by 50% (to an estimated $1 billion) during his six- year tenure. He has markedly improved the quality of the agency's intelligence analyses, partly by creating a better balance between the Company's capabilities in ELINT (electronic intelligence gathering) and HUMINT (human intelligence gathering, meaning spies and informers), which had been given short shrift. Having been a World War II operative for the old Office of Strategic Services...

Author: /time Magazine | Title: Plumbing the Cia's Shadowy Role | 12/22/1986 | See Source »

...same observation could be made about the achievements of Casey's friend and boss, Ronald Reagan. Like Reagan, Casey has put himself into a difficult bind about a scandal that occurred on his watch: even while denying his complicity, he is admitting to an appalling ignorance of what went on around...

Author: /time Magazine | Title: Plumbing the Cia's Shadowy Role | 12/22/1986 | See Source »

...messages keep coming at Ronald Reagan, from friends, senior leaders of both parties, veteran public officials belatedly summoned to provide outside counsel, even his wife. Their essence can be put in one word: act. Fire Chief of Staff Donald Regan or CIA Director William Casey, or both, as proof that the Administration intends to make a fresh start. Call the key figures in the Iran arms-contra funds scandal, Oliver North and John Poindexter, into the Oval Office and demand from them an accounting of their activities. But above all, do something. Don't just wait for inquisitive journalists, congressional...

Author: /time Magazine | Title: What He Needs to Know | 12/22/1986 | See Source »

...million in May. Why Lake Resources? Says Furmark: "Mr. Khashoggi said Mr. Nir of the Israeli government told him that Lake Resources was the account the Americans had designated for payment." Of the $25 million, $15 million seems to have disappeared. Furmark went to his old friend Casey to ask what happened; Casey insisted to him that Lake Resources was not a CIA account. It appears, in fact, to be the account of a company that was incorporated in Panama (though all its directors live in Switzerland) in May 1985 and officially liquidated on Nov. 10 this year. Suzanne Hesti...

Author: /time Magazine | Title: What He Needs to Know | 12/22/1986 | See Source »

...closed-door testimony to the House Foreign Affairs Committee -- which promptly leaked -- Casey disclosed that Furmark had indeed warned him that there were irregularities involving the profits from the Iranian arms deals. Casey got this tip on Oct. 7, more than a month before the contra diversions were publicly revealed by Meese. Casey promptly took the information to Poindexter and, one of his aides says, suggested that "he get himself a lawyer...

Author: /time Magazine | Title: What He Needs to Know | 12/22/1986 | See Source »

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