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...demons" rot away his policy judgment? Will he exaggerate Iran's power, as the Israelis and neoconservatives routinely do, turning a relatively modest regional player into an existential threat - mad mullahs ready to blow up the world? Will he allow Republicans to force him into a tough-guy pose for domestic consumption? Will he suffer the delusion that U.S., or Israeli, power can "take out" the Iranian nuclear program without disastrous retribution...

Author: /time Magazine | Title: Obama on the World Stage: What Power Means | 3/26/2009 | See Source »

...Unlike economic risks that TALF may be exposed to, political risks may pose a greater threat because they are less susceptible to accurate forecasting. The furor over AIG bonuses demonstrates that the political attitudes of the administration and the legislature are subject to the vagaries of populist outrage. The proposed legislation to impose a tax of 90 percent on the retention bonuses received by AIG executives, currently before the Senate, calls the sanctity of private contracts into question. It demonstrates that the government may retroactively alter the terms of financing agreements between it and private companies. It is likely that...

Author: /time Magazine | Title: Why the People Who Broke the Financial System Will Profit | 3/25/2009 | See Source »

...money. That could cause the public to question why a wealthy financial manager makes millions of dollars from the arrangement while the taxpayer gets very little. That may very well stir memories of excessive AIG compensation in a year or so. Ironically, the success of the secondary market may pose the greatest threat to its revitalization...

Author: /time Magazine | Title: Why the People Who Broke the Financial System Will Profit | 3/25/2009 | See Source »

Even as Iraq's Sunni-Shi'ite divide appears to be tenuously mending, another seam in the country's patchwork multiethnic and sectarian society is on the verge of unraveling. Territorial disputes between Arabs and Kurds - in the provinces of Nineveh, Kirkuk and Diyala - now pose a serious risk of violence...

Author: /time Magazine | Title: Arab-Kurd Tensions Could Threaten Iraq's Peace | 3/24/2009 | See Source »

...concluding that greenhouse gases pose a threat to human welfare, the EPA's finding could lay the groundwork for nationwide regulation of CO2 emissions - just as the EPA is require to regulate pollutants like smog-causing sulfur dioxide. But regulating CO2 will be immensely more complicated - the U.S. emitted over 6 billion metric tons of CO2 in 2007 from countless sources - and business groups have raised the specter of a meddlesome EPA using greenhouse gases as an excuse to regulate projects large and small...

Author: /time Magazine | Title: EPA Calls CO2 a Danger — At Last | 3/23/2009 | See Source »

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