Word: contras
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Another probable source of contra money was cited by the Washington Post, which reported that it had obtained documents showing that more than $1.7 million from a foundation set up by Carl Channell, a conservative fund raiser, was sent indirectly to a Swiss bank account known as Lake Resources. North had used the same account to receive some of the proceeds from the Iran arms sales and reportedly to help fund the contras. Still, Calero insisted, his organization never got any money from Iranian arms deals. Said he: "I wish we had. We're $2 million in debt...
...knowledge whatsoever of ((the contra diversion)) until Ed Meese briefed...
...trouper it was a masterly performance. Speaking to the nation on Ash Wednesday in perhaps the most important address of his long political career, Ronald Reagan was simultaneously repentant yet still proud, regretful yet determined. He unflinchingly accepted responsibility for the Iran-contra scandal that has threatened his presidency. But while admitting that his overture to Iran quickly turned into an arms-for-hostages swap because he was so deeply concerned about the hostages' well-being, the President refused to % disavow the initiative as wrongheaded from the start...
Forward momentum was something Reagan desperately needed after months adrift in the Iran-contra scandal and the devastating report from the Tower commission depicting an inattentive President surrounded by reckless advisers. The President's response to the report, and his widely applauded appointments of a new White House chief of staff and CIA director to go along with his new National Security Adviser, gave a boost to an Administration that had been foundering. Though it failed to address several of the more troubling aspects of Iranscam, the meticulously crafted twelve-minute speech showed that Reagan recognized the severity...
Reagan's address was not enough to convince his critics that he has learned the lessons of the past few months. "The President gave an excellent speech," said New Jersey Senator Bill Bradley, "but no mere speech can dispel the doubts raised by the Iran-contra affair. Only time will tell whether the President has asserted control over the foreign policy of our nation." Massachusetts Democratic Congressman Barney Frank was even blunter. "The Tower commission," said Frank, "did not find Reagan a lousy orator; they found him a lousy President...