Straight out of some James Bond or Tom Clancy Rainbow six novel, longtime hostage and cause celebre Ingrid Betancourt was rescued from captivity in a bloodless operation carried out Wednesday involving some admirable ingenuity, trickery and betrayal. In all seriousness, this was great news, not just because of her status and length captivity but also the fact no blood was shed.

The background of this event is the recent declining fortune of FARC-Revolutionary Armed Forces of Colombia, the leftist rebel army that has been fighting a longstanding guerilla war against the Colombian state for over 40 years. Over the past year, they've suffered some defeats and setbacks including the assasination of top leaders, the capture of key documents which almost precipitated a Colombia-Venezuela war a few months ago, and numerous defections. The US government has helped Colombia a lot with confronting the FARC, providing over $4 billion in military aid (Plan Colombia) since 2000 such as training and providing equipment. While this aid is ostensibly for anti-narcotic actions on cocaine, which the FARC also derives a significant income from, much of the military aid goes towards anti-FARC military operations.
The FARC has its origins in the aftermath of concentrated state campaigns against Marxist enclaves in the sixties but it seems over time their goals have shifted from Marxist revolutionary social change to greed, trafficking and wanton thuggery. Newsweek has a recent piece on this decline of the FARC to "a bunch of crooks".

This does not mean they are wholly responsible for this enduring civil conflict because right-wing paramilitaries and even the state have also engaged in oppressive and violent acts as well.
Global exchange has a bunch of articles critical towards the role of the US and Colombian state in the civil conflict. But in all essence, this is a guerilla movement who has lost its purpose, fighting for no one but itself.