Iran-Contra Affair

Aftermath

Oliver North and John Poindexter were indicted on multiple charges on March 16, 1988.[28] North, indicted on 16 counts, was found guilty by a jury of three minor counts. The convictions were vacated on appeal on the grounds that North's Fifth Amendment rights may have been violated by the indirect use of his testimony to Congress which had been given under a grant of immunity. In 1990, Poindexter was convicted on several felony counts of lying to Congress, obstruction of justice, conspiracy, and altering and destroying documents pertinent to the investigation. His convictions were also overturned on appeal on similar grounds. Arthur L. Liman served as chief counsel for the Senate Iran-Contra Affair.

The Independent Counsel, Lawrence E. Walsh, chose not to re-try North or Poindexter. Weinberger was indicted for lying to the Independent Counsel but was later pardoned by President George H.W. Bush.

Faced with undeniable evidence of his involvement in the scandal, Reagan expressed regret regarding the situation at a nationally televised White House press conference on Ash Wednesday, March 4, 1987. Responding to questions, Reagan stated that his previous assertions that the U.S. did not trade arms for hostages were incorrect. He also stated that the Vice President knew of the plan.

Domestically, the scandal precipitated tarnished President Reagans popularity as his approval ratings saw "the largest single drop for any U.S. president in history", from 67% to 46% in November 1986, according to a New York Times/CBS News poll[29] Reagan survived the scandal however and by December 1988 Gallup poll "recording a 63% approval rating."[30]

Internationally the damage was more severe. The scandal "completely discredited the U.S.-led campaign against international terrorism, undermining previous and current efforts by its allies," stay steadfast to a "no negotiations, no concessions", policy on terrorism.

U.S. willingness to engage in concessions with Iran and the Hizballah not only signalled to its adversaries that hostage-taking was an extremely useful instrument in extracting political and financial concessions for the West but also undermined any credibility of U.S. criticism of other states' deviation from the principles of no-negotiation and no concession to terrorists and their demands. [31]

In the Poindexter's hometown of Odon, Indiana, a street was renamed to John Poindexter Street. Bill Breedan, a former minister, stole the street's sign in protest of the Iran-Contra Affair. He claimed that he was holding it for a ransom of $30 million, in reference to the amount of money given to Iran to transfer to the contras. He was later arrested and was sent to jail, making him, as stated by Howard Zinn, "the only person to be imprisoned as a result of the Iran-contra Affair."[32]