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In the wake of revelations that the CIA was mining a civilian harbor in Nicaragua, congress makes Reagan and his CIA's aiding of the Contras illegal and finally cut off funding. But Reagan tells his men to somehow sustain the Contras during the funding drought, a directive that will lead the White House further and further into criminality.

In an effort to skirt the new congressional restrictions, Lt. Col. Oliver North emerges as the new effective commander of the Contras, establishing "The Enterprise" to act as a shadowy arms dealer and illicit fundraiser. After approaching some of the worst governments in the world for Contra cash, North's team hit upon the idea of selling arms to Iran and diverting the profits "The Enterprise."

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