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[[File:Clinton, Bush & Wallage.jpg|right|300px|thumb|George H.W. Bush and Bill Clinton in 1982.]]The '''Iran-Contra Affair''' ('''Operation Black Eagle''', later '''Operation Screw Worm'''; sometimes called '''Iran-gate''') was the result of an arms deal between the [[United States]], [[Iran]] and the Nicaraguan [[Contras]], an anti-communist guerilla group operating against the [[Marxist]] government of [[Nicaragua]].  

[[File:Clinton, Bush & Wallage.jpg|right|300px|thumb|George H.W. Bush and Bill Clinton in 1982.]]The '''Iran-Contra Affair''' ('''Operation Black Eagle''', later '''Operation Screw Worm'''; sometimes called '''Iran-gate''') was the result of an arms deal between the [[United States]], [[Iran]] and the Nicaraguan [[Contras]], an anti-communist guerilla group operating against the [[Marxist]] government of [[Nicaragua]].  

Although the first shipment of arms to Iran did not occur until well into President Reagan's second term, arms were being shipped to the Contra's from [[Bill Clinton]]'s Arkansas throughout Reagan's first term and traded for cocaine. The cocaine was flown back to Arkansas on the return trip and then distributed across the United States.

Although the first shipment of arms to Iran did not occur until well into President Reagan's second term, arms had been shipped to the Contra's from [[Bill Clinton]]'s Arkansas throughout Reagan's first term and traded for cocaine. The cocaine was flown back to Arkansas on the return trip and then distributed across the United States.

Later, when trading with Iran commenced, the proceeds from were used to purchase additional arms for the Contras operating in the mountains of Nicaragua.  When these transactions became public a special Prosecutor Lawrence Walsh was appointed.  Walsh then prosecuted a number of high-level Reagan Administration officials.  Although not generally known at the time, two future Presidents, George H. W. Bush and Bill Clinton, were also involved.<ref>[https://www.bibliotecapleyades.net/sociopolitica/sociopol_cia05.htm#THE_BOSS_HOG_LIST_ The Boss Hogg List]</ref> The matter ended later with President George H. W. Bush pardoning the key players on the eve of their trial.

Later, when trading with Iran commenced, the proceeds from were used to purchase additional arms for the Contras operating in the mountains of Nicaragua.  When these transactions became public a special Prosecutor Lawrence Walsh was appointed.  Walsh then prosecuted a number of high-level Reagan Administration officials.  Although not generally known at the time, two future Presidents, George H. W. Bush and Bill Clinton, were also involved.<ref>[https://www.bibliotecapleyades.net/sociopolitica/sociopol_cia05.htm#THE_BOSS_HOG_LIST_ The Boss Hogg List]</ref> The matter ended later with President George H. W. Bush pardoning the key players on the eve of their trial.