THE IRAN-CONTRA HEARINGS : Secord Resents Any ‘ Profiteer’ Label

Retired Air Force Maj. Gen. Richard V. Secord told the congressional Iran- contra investigating committees what he thinks about being regarded as a profiteer: not much.

Senate committee counsel Arthur L. Liman asked Secord, in light of a “surplus” of $14 million generated by Iran sales, if there was a reason he didn’t call it a “profit.” This exchange followed:

Secord: “Yes, because people have been calling me ‘profiteer.’ So I thought perhaps a change in terms might improve the accuracy.”

Liman: “And you have testified before that you resented very much the notion of being accused of profiteering?”

Secord: “Yes, sir.”

Liman: “And you do resent that?”

Secord: “I do, indeed.”