We measured the electronic structure of Fe substituted Bi2212 using Angle Resolved Photoemission Spectroscopy (ARPES). We find that the substitution does not change the momentum dependence of the superconducting gap but induces a very anisotropic enhancement of the scattering rate. A comparison of the effect of Fe substitution to that of Zn substitution suggests that the Fe reduces T$_c$ so effectively because it supresses very strongly the coherence weight around the anti-nodes.