Reagan admits faults over Iran-Contra scandal
1987 - US President Ronald Reagan, in a speech designed to erase doubts about his presidency, acknowledged that his once-secret Iranian initiative “deteriorated” into an arms-for-hostages deal. “It was a mistake,” he said. Reagan, in an address from the White House said, “I’ve paid a price for my silence in terms of your trust and confidence, but I have had to wait, as have you, for the complete story”. Declaring himself “angry” and “disappointed” with “some who served me”. Reagan said: “As personally distasteful as I find secret bank accounts and diverted funds ... this happened on my watch.” The Iran arms sales and the diversion of profits to Nicaraguan rebels have produced the biggest crisis of Reagan’s presidency. Reagan’s remarks shed no light on the many mysteries of the Iran-Contra affair and said others will have to find out where the Iran arms proceeds actually went. Reagan said: “A few months ago, I told the American people I did not trade arms for hostages.”
March 4
1789 - The US Constitution goes into effect as the first Federal Congress meets in New York City.
1801 - Thomas Jefferson is inaugurated as the third US President.
1817 - James Monroe is inaugurated as the fifth President of the United States.
1882 - Britain’s first electric trams run in east London.
1861 - Abraham Lincoln is inaugurated as the 16th President of the United States.
1933 - Franklin D. Roosevelt sworn in as the 32nd US President.
1965 - Syria orders nationalisation of nine oil companies.
1970 - French submarine with 57 aboard is lost in Mediterranean Sea off the Riviera.
1972 - Soviet Union signs agreement with Libya to develop and refine oil.
1974 - British Prime Minister Edward Heath resigns after failing to form a coalition with the Liberal Party.
1977 - Earthquake devastates Bucharest and Romanian towns killing more than 1,000.
1980 - Robert Mugabe storms to victory in Rhodesia’s (now Zimbabwe) independence election.
1990 - ANC loyalists overthrow the government of South African homeland of Ciskei.
1991 - Kuwait’s cabinet holds its first meeting in the country since the Iraqi invasion.
1997 - Israel orders the closure of four Palestinian offices in occupied east Jerusalem.
2000 - Krzysztof Suprowicz, Polish ambassador to Yemen, kidnapped by armed tribesmen, is freed.
2002 - Ebrahim Rugova is elected the first president of Kosovo.
2007 - Dubai invests Dh14 billion in development of Dubai Silicon Oasis.
2009 - The International Criminal Court issues an arrest warrant for Sudanese President Omar Hassan Al Bashir.
2016 - Brazil police detains ex-president Luiz Inacio Lula da Silva in corruption probe.
