1987 Ronald Reagan - Iran-Contra Affair

 
In 1985, the U.S. supplied Iran with millions of dollars in weapons in hopes of securing the release of American hostages held in Lebanon by Hezbollah terrorists. The U.S. then took this money and re-routed it to the 'Contra' guerrillas in Nicaragua. This deal was contrary to the official policy of the Reagan administration and contrary to the legislation passed by Democratic-controlled congress. In November of 1986, the weapon sales had been revealed. On national television, Reagan acknowledged the transfer of weapons, but insisted that the U.S. did not trade arms for hostages. Investigations continued, and in 1987 it was clear that Reagan did authorize the trade of arms for hostages. Ronald Reagan had to face the American people. First in his state of the union address, later in a nationally televised address to the American people.

In his 1987 state of the union address, Ronald Reagan spoke these words:

"I have one major regret: I took a risk with regard to our action in Iran. It did not work, and for that I assume full responsibility. The goals were worthy. I do not believe it was wrong to try to establish contacts with a country of strategic importance or to try to save lives. And certainly it was not wrong to try to secure freedom for our citizens held in barbaric captivity. But we did not achieve what we wished, and serious mistakes were made in trying to do so. We will get to the bottom of this, and I will take whatever action is called for. But in debating the past, we must not deny ourselves the successes of the future. Let it never be said of this generation of Americans that we became so obsessed with failure that we refused to take risks that could further the cause of peace and freedom in the world. Much is at stake here, and the Nation and the world are watching to see if we go forward together in the national interest or if we let partisanship weaken us. And let there be no mistake about American policy: We will not sit idly by if our interests or our friends in the Middle East are threatened, nor will we yield to terrorist blackmail."

http://www.presidency.ucsb.edu/ws/index.php?pid=34430
http://www.u-s-history.com/pages/h1889.html
http://media-2.web.britannica.com/eb-media/27/1727-004-10154F82.jpg
http://millercenter.org/president/speeches/speech-3414 See More

Here is his address to Americans on national TV. 
https://www.youtube.com/watch?v=R67CH-qhXJs