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...result is a reform plan that's clearly had a lot of thought put into it, and responds to many of the most obvious failings of our financial regulatory setup, but doesn't really change the way the financial game is played. The Federal Reserve would have more power to snoop around financial institutions that it thinks pose a systemic risk, the FDIC would get the power to take over and wind down non-banks, most over-the-counter derivatives would be forced onto exchanges, and capital requirements would be ratcheted up across the financial system. But the current alphabet...

Author: /time Magazine | Title: Is Obama's Financial-Reform Plan Bold Enough? | 6/18/2009 | See Source »

...combination of escalating street demonstrations and the politicking of Mousavi's backers inside the regime's councils prompts Khamenei to conclude that an Ahmadinejad victory is untenable, he could press the Guardian Council to heed the opposition's demand for a new vote - or, more likely, "adjust" the result so that no candidate has a clear majority, forcing a runoff election between Ahmadinejad and Mousavi. Such a course would be a bitter pill for the Supreme Leader, dealing a body blow to his efforts to install Ahmadinejad and mocking his authority by forcing him to reverse himself. Whatever its outcome...

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

...eastern Iowa to mark the one-year anniversary of flooding that deluged cities large and small, upending many lives and causing an estimated $10 billion worth of damage ($6 billion in Cedar Rapids alone). Eighty-eight of Iowa's 99 counties were declared a natural disaster area as a result of last year's flooding and two deadly tornadoes. While progress has been made to recover from Iowa's worst disaster, many frustrated homeowners still await government help to rebuild or buy and level their flood-damaged homes. Iowa has been allocated $798 million in federal block grant money that...

Author: /time Magazine | Title: A Year After the Flood, Cedar Rapids Struggles | 6/17/2009 | See Source »

...notion that Ahmadinejad won this election by a landslide is farcical. And the tepid response of Western governments, who are clearly most concerned with nuclear negotiations under another Ahmadinejad government, has been shameful. If it hadn't been for the extraordinarily high turnout in Friday's election, the fraudulent result would not have been such a watershed moment for Iran. That Iranians buried their cynicism and turned out in such record numbers to vote is what makes this such a bleak and precarious moment for the nation. Any vestige of legitimacy that the government might have had in many Iranians...

Author: /time Magazine | Title: Even in a Tainted Election, Voting Still Matters | 6/16/2009 | See Source »

...mandate for Ahmadinejad and his policies. One of the only reliable, Western polls conducted in the run-up to the vote gave the election to Ahmadinejad - by higher percentages than the 63% he actually received. The poll even predicted that Mousavi would lose in his hometown of Tabriz, a result that many skeptics have viewed as clear evidence of fraud. The poll was taken all across Iran, not just the well-heeled parts of Tehran. Still, the poll should be read with a caveat as well, since some 50% of the respondents were either undecided or wouldn't answer...

Author: /time Magazine | Title: Don't Assume Ahmadinejad Really Lost | 6/16/2009 | See Source »

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