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...famous October admission that his antiregulation ideology had failed was a landmark on this front. Federal judge and Chicago Law School professor Richard Posner's new book, A Failure of Capitalism, is another. In it, Posner fingers financial deregulation as a major cause of the crisis. He's less clear about what we ought to do now, although one of his suggestions very much fits the crude-measure standard: we should consider raising income taxes on high earners "in order to reduce their appetite for risk-taking...

Author: /time Magazine | Title: Dumbing Down Regulation: The Quest For Simpler Rules | 7/6/2009 | See Source »

...thing for the U.S. to deny in word alone the carte blanche that Israel enjoyed during the Bush administration, and another to take some sort of action. With regard to the settlement “freeze,” Washington would be wise to demand a clear, concrete delineation, lest, in Judt’s words, it be “played yet again for a patsy...

Author: By James K. Mcauley | Title: An End in Sight? | 7/6/2009 | See Source »

...good in the first major offensive of President Barack Obama's war in Afghanistan. For the past four days, 4,000 U.S. Marines and 650 Afghan soldiers have been fighting their way into the southern reaches of Afghanistan's Helmand River valley, hoping to clear out insurgents there. But other than in one limited area of fierce resistance, the fighting has generally been restricted to small-scale skirmishes in which few Taliban have been killed because most of the insurgents appear to have slipped away - as guerrillas tend to do when confronted by overwhelming firepower. More important to U.S. goals...

Author: /time Magazine | Title: Why Obama's Afghan War Is Different | 7/5/2009 | See Source »

...concern secondary to Iraq, the Afghanistan theater will see the number of American soldiers serving there increase by 17,000 by this fall. And under McChrystal, they'll be waging a different kind of war. Limited troop availability in the past meant that while NATO forces could clear an area of insurgents, they were unable to hold the terrain. Now the plan is for the Marines to set up combat posts in villages to provide the residents with lasting security. Still, some Afghans are skeptical. "I hope this operation gives a positive result," says Haji Nimatullah, a businessman in Lashkar...

Author: /time Magazine | Title: Why Obama's Afghan War Is Different | 7/5/2009 | See Source »

...McChrystal has also declared - in a soon-to-be-released tactical directive - that soldiers should hold their fire if there is even the slightest risk of a civilian presence in the target zone. "Suppose the insurgent occupies an enemy home or village and engages you from there with the clear idea that when you respond, you are going to create collateral damage," explains McChrystal. "He's going to blame that on you. Even if you kill the insurgents, what happens is you have made the insurgency wider. You are going to run into more IEDs. You are going...

Author: /time Magazine | Title: Why Obama's Afghan War Is Different | 7/5/2009 | See Source »

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