If you liked Reagan, you should like Obama.
On this day in 1986, President Ronald Reagan went on national television to explain — and, in part, defend — the secret sale of arms to Iran despite a U.S. arms embargo. White House officials hoped the arms transfers through Israel would help secure the release of seven U.S. hostages being held in Lebanon. They also used the proceeds of the sale to funnel weapons to Nicaraguan insurgents, known as the Contras, whom Reagan supported — despite a congressional ban on such transfers.
Guess this was ok since there was an 'R' after his name.