Bring a large pot of lightly salted water to a boil. Add pasta and cook for 8 to 10 minutes or until al dente; rinse under cold running water, and drain.
In a large bowl, combine the salsa, mayonnaise, green pepper, garlic powder, salt, black pepper, and olives; mix well. Pour pasta into mixture, and stir to coat thoroughly. Cover, and refrigerate at least one hour before serving.