The Iran-Contra Affair (also known as "Irangate") was a mid-1980s political scandal in the United States. President Ronald Reagan's administration sold arms to Iran, an avowed enemy. At the time, Americans were being held hostage by Islamic terrorists in Lebanon, and it was hoped that Iran would influence the terrorists to release the hostages; at the same time, Iran, which was in the midst of the Iran-Iraq War, could find few nations willing to supply it with weapons. The U.S. diverted proceeds from the sale to Contras fighting a guerrilla war against the leftist Sandinista government of Nicaragua, which was backed by Cuba and the Soviet Union. Both the sale of weapons and the funding of the Contras violated either stated administration policy or legislation passed by the Democrat-controlled Congress, which had outlawed funding the Contras.
Oh... so we were selling arms to Iran & Iraq so they would kill each other.. Who cares.. We stopped the commies in Nicaragua Ollie is a Hero!