Responsibilities
"The transactions that took place in the Iran-Contra scandal were contrary to the legislation of the Democratic-dominated Congress and contrary to official Reagan administration policy."
-United-States-History.com
Ronald Reagan was the leader of a democratic nation and he felt a responsibility to assist the hostages in Lebanon, while Congress voted to not help the rebels. Reagan initially denied of knowing about the Iran-Contra Affair. Later, he acknowledged the existence of the Iran-Contra Affair.
"Much of the cover-up ultimately failed, as documents escaped shredding and witnesses traded their statements for immunity. But special House and Senate committees acknowledged that because of the destroyed evidence, 'all of the facts may never be known.'"
-Chicago Tribune News
In Oliver North's trial, he mentions the project's name, "Project Democracy," and the fact that the money was directed to the Contras with the intentions of assisting them in their fight.
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-Iran Contra Hearings, 1987, National Archives and Records Administration
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"I made a deliberate decision not to ask the President [Ronald Reagan], so that I could insulate him from the decision and provide some future deniability for the President if it ever leaked out."
-John Poindexter
-Reagan Testimony in Poindexter Trial, 1990, Archive.org
Some people thought that impeachment was bound to happen for Reagan, but that never happened. One of the reason why President Reagan wasn't impeached, was that there was not enough evidence that proved his knowledge on the Iran-Contra Affair, and the fact that Ronald Reagan was a popular president and the American population wouldn't have taken his impeachment very well. Taken in consideration was President Nixon's Watergate Scandal, which resulted in the president resigning while Congress began the impeachment process. These two events were around twelve years apart and the Watergate Scandal was still fresh in the American minds.
"Despite the damage to his image, the president arguably got off easy, escaping the ultimate political sanction of impeachment. From what is now known from documents and testimony -- but perhaps not widely appreciated -- while Reagan may not have known about the diversion or certain other details of the operations being carried out in his name, he directed that both support for the Contras (whom he ordered to be kept together "body and soul") and the arms-for-hostages deals go forward, and was at least privy to other actions that were no less significant."
-The National Security Archive