Virtually none of the people that McCarthy claimed or alleged were Soviet agents turn up in Venona. He did identify a few small fry who we now know were spies but only a few. And there is little evidence that those he fingered were among the unidentified spies of Venona. Many of his claims were wildly inaccurate; his charges filled with errors of fact, misjudgments of organizations and innuendos disguised as evidence. He failed to recognize or understand the differences among genuine liberals, fellow-traveling liberals, Communist dupes, Communists and spies — distinctions that were important to make. The new information from Russian and American archives does not vindicate McCarthy. He remains a demagogue, whose wild charges actually made the fight against Communist subversion more difficult. Like Gresham’s Law, McCarthy’s allegations marginalized the accurate claims. Because his facts were so often wrong, real spies were able to hide behind the cover of being one of his victims and even persuade well-meaning but naïve people that the who led anti-communist cause was based on inaccuracies and hysteria.