Khomeini was greeted by several million iranians when he returned from exile about two weeks later. An armed rebellion soon led to the fall of the royal government and a National Referendum established iran as a republic on april 1, 1979. On november 4 of that year, iranian students seized the American Embassy and took more than 50 hostages. Next we look at the release of the hostages the day president Ronald Reagan was inaugurated, january 20, 1981, from cspans president ial Library Series recorded in 2007. We have this important piece of videotape. It is extraordinary. It was what ought to have been a theus moment, the calm climax of the carter presidency. On january 16, four days before the inauguration, a basic deal had been agreed upon. And it hitched upon president carter unfreezing iranian assets. ,hat was incredibly complicated with many banks around the world. One delay after another, after another took place. Here we are on Inauguration Day morning. The president is in the ov