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...suspects Iranian involvement and sends an ultimatum to Tehran. Israel takes the American side; Russia lines up with the Iranians ... It's not a wholly implausible sequence. And some central bankers admit privately that they would have to struggle to counter the liquidity crunch that such a geopolitical shock would trigger. A stock-market shutdown in 2007? History warns us not to rule...

Author: /time Magazine | Title: The Next Meltdown | 1/5/2007 | See Source »

Mumma posted photos of the company's founders on his website and called them Cruise.com spammers." They sued Mumma in Virginia federal court for besmirching their reputations, and he countersued for violations under state and federal antispam laws. Much to Mumma's shock, the trial judge dismissed his suit, ruling that the e-deals weren't misleading enough to be spam. In November the U.S. court of appeals in Richmond agreed. But the founders' case survived, and as it heads for trial before the federal district in Virginia, Mumma faces the possibility of owing $3.8 million in damages for speaking...

Author: /time Magazine | Title: A Spammer's Revenge | 1/5/2007 | See Source »

...release of the Iraq Study Group's report gave me hope that the U.S. will move back to a more cooperative foreign policy [Dec. 18]. In the shock following 9/11, the U.S. Administration stepped into a trap laid by al-Qaeda. Five years later, civil rights are restricted the world over, Islamic radicals have gained strength, and the so-called war on terrorism has produced more hostile fighters. I hope it is now understood that bombs don't spread democracy, whether in Iraq or in Lebanon. Real strength means you reach out to the other side and work...

Author: /time Magazine | Title: Letters: Jan. 15, 2007 | 1/4/2007 | See Source »

...into Washington National Cathedral, you could hear the august music of Hail to the Chief. Inside the church, George W. Bush and three of his predecessors were gathered. But for the moment, there was only one chief who mattered, the man who once helped the nation weather a grievous shock to its system. In his eulogy, George H.W. Bush said it best: "Gerald Ford's decency was the ideal remedy for the deception of Watergate...

Author: /time Magazine | Title: Farewell to a Decent Man | 1/4/2007 | See Source »

...insult was very revealing. Like Saddam, most Iraqi Sunnis view Sadr as all but a paid-up Iranian agent, and his militia, the Mahdi Army, as an Iranian creation.The Sunnis are convinced that one day, given the opportunity, Sadr will hand Iraq over to Iran. For all the shock Iraq's Sunnis felt on hearing Sadr's name shouted at Saddam's execution, Iranian diplomats might as well have been in attendance...

Author: /time Magazine | Title: Saddam's Shi'a Lynch Mob | 1/4/2007 | See Source »

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