We often talk about government conspiracy THEORIES, but under Ronald Reagan, there was a bona-fide CONSPIRACY involving illegally selling arms to Iran in exchange for hostages, and then using that money to fund guerillas in South America. So… pretty complicated. If you don’t remember, the hearings captivated the country and almost got Reagan impeached. There’s also the theory that Reagan made a deal with Iran before his election to withold releasing the hostages to hurt Carter. Real Mission Implausible kind of stuff.