The press, on high alert for a scandal similar to Watergate, demanded to know what the President knew and when he knew it. The administration initially denied that President Reagan had approved an arms-for-hostages deal but later backtracked and acknowledged that he had. The President insisted that he had not known that members of the National Security Council staff had diverted funds to the Contras. Ultimately, President Reagan accepted responsibility for the actions of his administration and appointed an independent counsel to bring charges against anyone who had broken the law. National Security Adviser John Poindexter and Lieutenant Colonel Oliver North were found guilty (their convictions were reversed on appeal).
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