Word: iran-contra
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...isolation, the letter could be seen as a momentary lapse. But it comes in the context of Meese's still unclear and possibly criminal role in the Iran-contra affair, as well as the growing revelations of his involvement in the Wedtech scandal. And, of course, it should not be forgotten that Meese's confirmation hearings were held up as a Special Prosecutor investigated charges of favoritism and corruption. How ironic it is, then, that marijuana use eight years ago is a scandal, while Meese's power and authority remain unimpaired...
...Iran-contra fiasco and Bork's defeat in the Senate have given the President strong incentive to play up the significance of the forthcoming agreement. Add the stock market instability, and the President's last claim to fame is in jeopardy. So Reagan has abandoned his avowed realism in order to distort the agreement's utility...
...Stanley Cloud, TIME's deputy Washington bureau chief. "Reporters usually follow the news. You've worked it out so that the news follows you." Indeed, no sooner had Cloud taken on the job in June than the biggest stories of the year rushed out to welcome him, including the Iran-contra hearings and the stock-market crash. With Bureau Chief Strobe Talbott, Cloud was responsible for deploying 17 correspondents to cover those events, as well as the unfolding 1988 presidential sweepstakes...
WASHINGTON--The congresssional Iran-Contra investigating committees approved the final draft of their report on the affair yesterday as House Republicans unanimously voted against it and voiced complaints that it is laced with "unsupported conclusions and innuendoes...
...stock crisis cause a recession? Or even a global depression like the one ushered in by the 1929 Crash? What would happen to the dollar, to interest rates, to world trade? What might Ronald Reagan do to calm the markets? Could a President who was so weakened by the Iran-contra affair and the impending defeat on the Bork nomination, and who was distracted by war in the Persian Gulf and his wife's cancer operation, possibly quell the financial turmoil? Did he even understand that he faced a first-class crisis of confidence in his leadership...