Mr. NIELDS: Now the last account is the Button account, it has $200,000 in it, and your records reflect that that amount was put into the Button account May 20, 1986. Is Button short for something?

Mr. HAKIM: In this case, no. The name, Button, actually came as the result of a joke between Mr. Zucker and myself at a time that we were having a discussion. Actually, the complete name is Belly. button, and this was a name that I decided to use at the time because we laughed about the joke, and I simply took the name and used it for this set-aside.

Mr. NIELDS: Does it refer to a person?

Mr. HAKIM: Yes, it does.

Mr. NIELDS: Who?

Mr. HAKIM: Lt. Col. North.

Mr. NIELDS: Can you explain the circumstances surrounding the setting up of an account for Lt. Col. North?

Mr. HAKIM: I must start by saying that when I established this account, Lt. Col. North had absolutely no idea about this. This oc· curred during the time that the so-called McFarlane Tehran trip was about to take place.

Mr. NIELDS: That took place approximately the 24th, 25th of May 1986, and this account was set up on May 20th?

Mr. HAKIM: I am talking about the time when the concept and idea came to my mind. We knew that such a trip was going to place, and by this time I had become extremely fond of Lt. Col. North. To me, he is an amazing person. I noticed something in this man that—he has got two loves. One is his country, and to a point that he is, in my mind, the biggest satisfaction that can be given to him is if he would enter into an environment that he could get killed for his country. I sensed that so many times. The other love that he has is his family, and he especially during the time of the second channel, I witnessed him being torn apart between these two loves

But coming back to how this thing came about, I came up with the idea that Ollie had to be insured, and it started out with put- ting this money aside as a death benefit for him, and I had also learned through scattered discussions—it was not that there was one discussion that this issue was analyzed—I had hear through various remarks that Ollie was not spending time at home, and he was not attending to his family, to his kids' education and so forth, and I had become emotionally very attached to Ollie, still am, and I really love this>
I talked to Richard, General Secord, I said that I thought it would be wise to set aside $500,000 to cover the—as a death benefit for Ollie. I recall that Richard opposed to this figure.

Mr. NIELDS: Richard what?

Mr. HAKIM: Opposed.

Mr. NIELDS: Was against it?

Mr. HAKIM: Against it, yes. As a matter of fact, he made a remark that the point of reference that I use is my own lifestyle and I have no understanding of what a soldier's life is, and that there are benefits that the government provides, and I came up with the figure of two hundred. General Secord made no opposition to this. He did not disagree, and yet he did not come right out and say that, fine, go ahead and do it. And I did not pursue this. That is how this was developed and the reason I came up with this figure in addition to the fact that General Secord had been opposed to my original idea, I figured that the interest on $200,000 could cover a good part of a child's university education.

Mr. NIELDS: Did you tell Colonel North that you had set this money aside?

Mr. HAKIM: I cannot recall having told Colonel North that I had set money aside for his family's benefit, but I do recall my reaction to the times that we were discussing his family problem, basically for not being able to attend to his family, and also his concern about the education of his kids and his concern what would happen if he should get killed and so on. The way I remarked to him was, "Ollie, you are part of the family. For as long as one of us is alive, you need not worry about your family." That is what I remember having told him. I do not recall sitting him down and saying that I have set aside $200,000 for your family's benefit.

Mr. NIELDS: You have referred to this at times as a death benefit. I take it this was shortly before the trip to Tehran in May of 1986?

Mr. HAKIM: You are correct.

Mr. NIELDS: You have also said some things about his children's education. Did you ever take any steps to get some part of this money or any other money into his possession for his children's education?

Mr. HAKIM: The answer is yes.