We also reported that Chavez has designed a new regime based on absolutism and the elimination of civil and political rights while evangelizing these anti-democratic ideas throughout the region.

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But that was long before Hanes began moving much of its production offshore, and before the Tobacco Master Settlement Agreement (under which the tobacco companies agreed in 1998 to pay hundreds of billions of dollars in damages for harming people's health), the leveraged buy-out of RJR by a private-equity firm, the elimination of federal farm price support for tobacco and decades of anti-smoking advertising.

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That kind of anti-regulatory ideology brought us some of the legislation that fostered the global financial crisis, such as the elimination of the Glass-Steagall Act and the passage of the Commodities Futures Modernization Act, which prohibited some regulation of derivatives such as credit default swaps.

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