01.14.43-Host Shields talks about the irony of the IRANIAN backing of the LEBANON MARINE BOMBING in 1983, and REAGAN'S anger against IRAN, asks how selling arms to IRAN can now be justified. COHEN says it's difficult to justify. The mistake was made in giving arms to IRAN, although the goal of getting the hostages freed was a noble one. Says that it was the wrong tactic to deal with terrorism. FOLEY says giving arms to IRAN was a major policy, not just an "execution" of a different policy, it should not have been undertaken without the knowledge of Congress. Discussion of past allegations that ISRAEL was sending arms to IRAN in the past. COHEN says such stories were not credible and vague, it could be Congress' fault for not investigating. FOLEY says that every scandal produces a "we should have known" flood of stories, but in this case the sale of arms was so contrary to the Reagan Administrations fervently avowed policies that no one thought it was possible. 01.17.49-Rep. FOLEY says the American people in general have "hard attitudes" toward Iran, and they are shocked to hear that the Administration could have been supplying arms to Iran. Carter thanks guests. 01.18.30-Shot of JOHN POINDEXTER and his lawyer in House committee hearing, the attorney has an angry exchange 01.19.08-Shields intro guest commentators Ed Walsh (Washington Post) and Steve Roberts (NY Times). Discussion of the House committee being perhaps overly solicitous of North and Poindexter in the hearings. Walsh says the House wanted to get a piece of the action on IRAN-CONTRA. Roberts says there was a side of the hearings where Congressmen tried to shame NORTH and POINDEXTER into testifying for the national good versus taking the fifth to cover their own behinds. Carter says that there was extensive praise of NORTH by the Congress. Walsh-it's tough for Congress to take on "war heroes" like North on TV, dangerous to confront them. Discussion of the Democrats' problems being considered soft on Defense and Communism. Roberts says that Democrats need to avoid getting far ahead on the issue or it will look like a partisan effort to kick Reagan around. 01.21.40-Discussion of the House investigative committee. Lee Hamilton likely to dominate the hearings, a dogged seeker of the facts thus far. Discussion of the importance of Iran-Contra to Congress. It will dominate the agenda at first, but how long the interest lasts will depend on when and how North and Poindexter testify. If they don't add any new allegations, then the scandal will probably fade. 01.24.20--Carter says that the Press was following the lead of Congress on Watergate, a similar scandal. Questions how the Press will treat IRAN-CONTRA. Roberts says that many young reporters want to be Woodward and Bernstein, and no paper wants to lose the story, so there will be some heated coverage. But the coverage will depend on whether further witnesses introduce new allegations about higher ranking officials. 01.26.27-Shields signs off closing credits/funding credits/PBS ID 01.27.48--OUT