It was a year ago this month that the first revelations of Central Intelligence Agency dabbling in Chilean politics came out. Since then, more than a quarter-century's worth of skeletons (not to mention exotic weapons) have tumbled from the agency's closet. Today the CIA is the least secret espionage service in the world, and its director, William Colby, the most visible and interrogated master spy in recent history. The agency has been in hot water before, of course. But unlike the uproar that followed the Bay of Pigs fiasco in 1961, the current controversy threatens the very existence of the CIA.
The...