Reagan expressed regret regarding the situation during a nationally televised address from the White House Oval Office on March 4, 1987 and two other speeches;[
67] Reagan had not spoken to the American people directly for three months amidst the scandal.[68] President Reagan told the American people the reason why he did not update them on the scandal:
"The reason I haven't spoken to you before now is this: You deserve the truth. And as frustrating as the waiting has been, I felt it was improper to come to you with sketchy reports, or possibly even erroneous statements, which would then have to be corrected, creating even more doubt and confusion. There's been enough of that."[68]
He then took full responsibility for the acts committed:
"First, let me say I take full responsibility for my own actions and for those of my administration. As angry as I may be about activities undertaken without my knowledge, I am still accountable for those activities. As disappointed as I may be in some who served me, I'm still the one who must answer to the American people for this behavior."[68]
Finally, the president stated that his previous assertions that the U.S. did not trade arms for hostages were incorrect:
"A few months ago I told the American people I did not trade arms for hostages. My heart and my best intentions still tell me that's true, but the facts and the evidence tell me it is not. As the Tower board reported, what began as a strategic opening to Iran deteriorated, in its implementation, into trading arms for hostages. This runs counter to my own beliefs, to administration policy, and to the original strategy we had in mind."[68]
