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...what these firms could charge and how much they could make. That would limit the risk-taking and excess use of leverage that caused the two firms to collapse. "I think it would be bad for the mortgage market to get rid of them completely," said Kanjorski, who also spoke at the conference on Friday morning. "But if they were smaller, perhaps next time we won't be in the situation where these firms are too big to fail." (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: The Future of Fannie and Freddie: Chief Says Government Ownership Is Bad | 6/19/2009 | See Source »

...Supreme Leader spoke for the best part of 100 minutes, offering no concessions whatsoever to protesters demanding that the vote be held again. He went on to say that the demonstrations should cease with protesters being "held responsible for chaos if they didn't end" and that a "street challenge is not acceptable." But Khamenei didn't just reserve his remarks for the Iranians. He called the British government "the most evil opponent" (The U.K. government has since summoned the Iranian ambassador to protest against the comment) and blamed external "enemies of Islam" for trying to stoke anger. "Some...

Author: /time Magazine | Title: Iran's Supreme Leader: Ahmadinejad Won the Election | 6/19/2009 | See Source »

...Iranian equivalent of Karl Rove. They appeared paralyzed by what they considered his coarse impertinence; in American terms, these might have been debates between George Bush the Elder and Newt Gingrich, a gentlemanly establishmentarian against a rude populist brawler. Ahmadinejad was a slick combination of facts and accusations. He spoke directly into the camera. He deployed little charts, as Ross Perot did in the 1990s, to show that things weren't as bad as people thought. His statistics were heavily massaged and challenged by his opponents, but he had muddied his greatest vulnerability - the stagflating Iranian economy. The real...

Author: /time Magazine | Title: Joe Klein: What I Saw at the Revolution | 6/18/2009 | See Source »

...sensationalism" for "domestic use" is what political campaigns are usually all about. During more than a week in Iran, I interviewed as many people who admired Ahmadinejad as were appalled by him. On election day at the Hossein Ershad Mosque in north Tehran, I spoke with Ismail Askari, the head of the taxi drivers' union in the city of Malard, just west of Tehran. He was a Mousavi supporter, but he admitted, "Most of the people in my cab have been happy with the present government...

Author: /time Magazine | Title: Joe Klein: What I Saw at the Revolution | 6/18/2009 | See Source »

...truth, the reformers I spoke with seemed as unyielding as Ahmadinejad, if more politely so, when it came to discussing what Iran would be willing to concede in negotiations with the U.S. They were adamant on Iran's nuclear enrichment program, which is permitted for peaceful purposes under the nuclear nonproliferation treaty. None of them, except Mousavi, was willing to acknowledge that weaponization of uranium might be in the works and therefore be a subject for negotiation. (Mousavi told me that if such a program existed, it would be negotiable, but he didn't say, and may not know, that...

Author: /time Magazine | Title: Joe Klein: What I Saw at the Revolution | 6/18/2009 | See Source »

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