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Actually it was North and Poindexter who bad mouthed Reagan, Ollie tried to save his own hide by claiming Reagan knew about his crazy scheme. Reagan strongly denied this as did the President's father. Imagine if Reagan had been impeached over Ollie's boondoggle, where would the conservative movement be today? It nearly happened, it was clearly a dark day for Reagan when Ollie's lies forced him to go before the nation and say this

"First, let me say I take full responsibility for my own actions and for those of my administration. As angry as I may be about activities undertaken without my knowledge, I am still accountable for those activities. As disappointed as I may be in some who served me, I'm still the one who must answer to the American people for this behavior. And as personally distasteful as I find secret bank accounts and diverted funds -- well, as the Navy would say, this happened on my watch.

Let's start with the part that is the most controversial. A few months ago I told the American people I did not trade arms for hostages. My heart and my best intentions still tell me that's true, but the facts and the evidence tell me it is not."

http://www.reagan.utexas.edu/archives/speeches/1987/030487h.htm

Sounds to me like he wanted tear Ollie a new one!