Delivered in July 1987, Ronald Reagan comes back to the American people after four investigations and hearings had revealed there had indeed been an "Iran Contra affair".  The Believability Meter is mostly quiet on this speech as Reagan comes clean to the American public about what went on and where the buck stops.  But we did see a blip or two worth checking out, including his comment that he began the investigation "once I realized I had not been fully informed" (:48) and that he believed he was helping to prevent a "Soviet beachhead in Central America" (2:23).  The end has an interesting play on words as Reagan declares he did not know of the diversion of funds (2:45) nor did he know there were excess funds (2:52).  What do you think?