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This week, however, the Obama Administration said it was not going to do anything to help California right now, believing that the state should try to get its budget mess in order first. There are good reasons for the Treasury not to rush to California's aid. If it backstops Sacramento, rewarding the state's bad behavior, it would set an example for other states to follow. A nightmare scenario: the Federal Government backs California's loans, which leads to a downgrading of the Treasury's credit rating and the unnerving of the global credit markets. Spooked, the Chinese government...

Author: /time Magazine | Title: Can the U.S. Afford to Let California Fail? | 6/19/2009 | See Source »

...Divine" Retreat? Khamenei blundered when he yoked his position as Supreme Leader - which is typically above the factional fray of the regime's politics - so closely to Ahmadinejad. He issued a barely disguised public endorsement of the candidate and then rushed to proclaim Ahmadinejad's "divine victory" and order all Iranians to accept it. But the mounting instability on the streets appears to have sent Khamenei into retreat as he ordered the Guardian Council to investigate claims of electoral fraud. If the combination of escalating street demonstrations and the politicking of Mousavi's backers inside the regime's councils prompts...

Author: /time Magazine | Title: Iran: Four Ways the Crisis May Resolve | 6/18/2009 | See Source »

...oversaw an office that ran operatives abroad, from Lebanon to Kuwait to Iraq. This was the heyday of Khomeini's theocratic vision, when Iran thought it really could export its revolution across the Middle East, providing money and arms to anyone who claimed he could upend the old order. Mousavi was not only swept up into this delusion but also actively pursued...

Author: /time Magazine | Title: Robert Baer: Don't Forget Mousavi's Bloody Past | 6/18/2009 | See Source »

...culinary innovator - but in 2000 he changed forever the way we think about food with the publication of Kitchen Confidential, his scabrous, astoundingly funny, weirdly touching tell-all about his career in New York City restaurant kitchens. It's not just that he told us not to order fish on a Monday (because it's probably been around since last Thursday) and that the bread on our table probably got recycled from the table of somebody else who maybe sneezed on it. He changed our whole cultural idea of what a kitchen is. Pre-Bourdain, it was a warm, cozy...

Author: /time Magazine | Title: Chef Lit: Kitchen Writing | 6/17/2009 | See Source »

...British secondary school students attend citizenship classes, but this 20-week course is designed to complement those lessons, incorporating Koranic scripture as a key teaching tool. The classes cover topics including What is Democracy?; Law and Order; and British or Muslim, or British Muslim? Officials say the trial classes, which ended in April, were a success. "The feedback we received was very positive," says Khalid Mahmood, project manager. "Teachers have said [the materials] kept the children very engaged." From May 22, final versions of the lessons went online at theiceproject.com. While it's a voluntary program, "we expect there will...

Author: /time Magazine | Title: Battling Extremism with Education | 6/17/2009 | See Source »

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