Fiasco Season 2 is yet to be announced by MGM+

As the Justice Department launches an investigation into the Reagan administration's deals with Iran, a plot is hatched to cover up the details, and one man is chosen to take the fall for the president.

Two bizarre events, one in Iran and the other in Nicaragua, spark a frenzy among the press and public. Behind the scenes, Reagan's team debates how best to respond.

In a desperate attempt to free American hostages being held in Lebanon, Reagan's cabinet strikes an illegal weapons-for-hostages deal with an Iranian arms merchant. The proceeds are funneled to pay for the Nicaraguan civil war.

A civil war in Lebanon catapults President Reagan into a new hostage crisis. While the President tries to avoid the same fate as his predecessor, National Security Advisor Robert "Bud" McFarlane is presented with a proposal that may be too good to be true.

After revolution comes to Nicaragua, the Reagan Administration is convinced the Soviet Union is on the march. Lt Colonel Oliver North is tapped to support the Contras, and he vows to keep the rebel effort alive, "body and soul."

Amidst the backdrop of the 1979 Iranian revolution, Jimmy Carter's failure to free American hostages sets the stage for Reagan's own hostage crisis.