User talk:DumbDotzler

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You seem to be doing crazy things to our wiki, so I'm going to block you. Please contact me if you would like to discuss that. GavinSharp 14:42, 31 August 2011 (PDT)


The Chicago school, which advocates for unfettered free markets and little government intervention (albeit within a strict, government-defined monetary regime), came under attack in the wake of the financial crisis of 2007–2010.[19] The school has been blamed for growing income inequality in the United States.[20] Economist Brad DeLong of the University of California, Berkeley says the Chicago School has experienced an "intellectual collapse", while Nobel laureate Paul Krugman of Princeton University, says that recent comments from Chicago school economists are "the product of a Dark Age of macroeconomics in which hard-won knowledge has been forgotten." [21] Critics have also charged that the school's belief in human rationality contributed to bubbles such as the recent financial crisis, and that the school's trust in markets to self-regulate has offered no aid to the economy in the wake of the crisis.[22]

In response to free market economists who put the blame for the economic crisis on government intervention in the mortgage market via Fannie Mae, Freddie Mac, and the Community Reinvestment Act,[23] critics of the Chicago School point out that a bulk of residential mortgage lending during the peak bubble years (2004–06) was through commercial entities such as Countrywide Financial that weren't subject to provisions of the CRA, and that Fannie Mae and Freddie Mac actually lost market share during the housing bubble. They also point out that assigning a key role in the crisis to Fannie Mae and Freddie Mac doesn't explain why other countries also had a similar real estate bubbles at the same time.[24]

American evil empire

The U.S. provided material support to the military regime after the coup, although criticizing it in public. A document released by the U.S. Central Intelligence Agency (CIA) in 2000, titled "CIA Activities in Chile", revealed that the CIA actively supported the military junta after the overthrow of Allende and that it made many of Pinochet's officers into paid contacts of the CIA or U.S. military, even though some were known to be involved in human rights abuses.[22] Perhaps most infamously, the CIA maintained contacts among the Chilean DINA intelligence service while DINA leaders, under Pinochet's direct command, led the multinational anti-communism campaign known as Operation Condor, resulting in assassinations of prominent politicians and activists of the legal left in various Latin American countries, in Washington, D.C., and in Europe (see section below). In particular, CIA contact with the head DINA, Manuel Contreras, was established soon after the coup (in 1974, during the Junta period prior to official transfer of Presidential powers to Pinochet); in 1975, the CIA reviewed a warning that keeping Contreras as an asset might trouble the maintenance of human rights in the region, yet they chose to keep him as an asset anyhow and even made him a paid asset at one point. In addition to the CIA's maintaining of assets in DINA beginning soon after the coup, several CIA assets, such as CORU Cuban exile militants Orlando Bosch and Guillermo Novo, collaborated in DINA operations under the Condor Plan in the early years of Pinochet's presidency.