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Robin Williams Time Magazine Cover
Photograph by Nigel Parry—CPi

Robin Williams: The Heart of Comedy
One man with a thousand voices brought joy to millions—but could not sustain it in himself

Obama Can Still Secure His Legacy
If he plays his last two years like the final quarter and not the back nine

An Evil That Must Be Stopped
ISIS is the most serious threat to American interests in a decade. Why we must counter it

Last Tango in Buenos Aires
Argentina’s debt snarl tells us how risky the global financial system still is

Ferguson’s Fatal Encounter
A police shooting puts the spotlight on race and lethal force in America

The Accidental War in Gaza
Entrenched interests drove Hamas and Israel to their deadliest impasse

What Comes After Ebola
The headquarters of the Centers for Disease Control and Prevention in Atlanta is buzzing because of a disease that has never killed a single person on U.S. soil. Here’s why

Kurds Finally Have America’s Attention
Obama sends in the military to repel a gruesome terrorist army

Crashing the Core Curriculum
New education standards have turned back-to-school into a battlefield

Memories of Mork: Robin Williams, RIP
To the kids who watched him in his first defining role, Williams proved that weirdness wasn’t just O.K. — it was amazing

Basking in Robin
We trace the evolution of a decades-long career, one signature role at a time

Dick Cavett: Robin Williams Won’t Be the Last Suicidal Star
“The non-actor has a major advantage because it’s harder to hide the symptoms”

10 More Questions With Robin Williams
In March 2011, TIME interviewed Robin Williams. Here are 10 exchanges that didn’t fit the first time around

Milestones

Lauren Bacall
Hollywood icon

Jim Frederick
Writer, editor, mentor

James ‘Jim’ Brady
Former White House press secretary

The Master Critic

Briefing

World

TIME

Obama Can Still Secure His Legacy

If he plays his last two years like the final quarter and not the back nine

aspen journal logo

The article also appears in the Aspen Journal of ideas

A question that faces president Obama, however the midterm elections turn out, is whether he’s going to play his final two years as the back nine of a casual afternoon of golf, coasting toward the clubhouse of former presidents, or as the final quarter of a tight basketball game.

When I was working with Steve Jobs on a biography in 2009, he had an inkling that he might only have a couple of active years left. As his cancer kept recurring, instead of slowing him, it spurred him on. In those two years, he refined the iPhone and launched the iPad, thus ushering in the era of mobile computing.

President Obama has scored two monumental achievements: helping to restore the financial system after the 2008 collapse and making it possible for every American to get health care coverage, even if they leave their jobs or have preexisting conditions. Obamacare may be undermined if the Supreme Court guts subsidies for the federal exchanges. If so the sweeping nature of the reform will survive only if Obama mounts a rousing, state-by-state campaign to rally passion for protecting the new health benefits.

As for rescuing the economy, this could be remembered as a hollow victory unless the recovery restores economic opportunity for all Americans. Growing inequality—of income, wealth, and opportunity—is the economic, political, and moral issue of our time. The fundamental creed of America is that if you work hard and play by the rules, you can support your family with dignity and believe that your children will have an even better future. But that is being lost as the middle class continues to be hollowed out and the poor get left further behind.

From the Pope to Thomas Picketty, and from Paul Ryan to Rand Paul, there has been a renewed focus on the moral imperative of economic opportunity. Obama seems ready to make that the defining passion of his final two years. Fighting for a fair deal for every American goes to the core of what he believes, rounds out the narrative of his presidency, secures his historic legacy, and leads naturally into what is likely to be the mission of his post-presidency.

The foundation for such a crusade could be a simple goal, one with moral clarity and patriotic resonance: that every kid in this country deserves a decent shot. He’s got a fresh team in place, and he’s already proposed many elements of an opportunity agenda in his My Brothers’ Keeper Initiative and other speeches. Among them: Universal preschool, so that no child starts off behind. Quality after school activities and summer internships. Apprentice programs like the bill proposed by Senators Cory Booker and Tim Scott. What also could be included is a public-private effort to create a service year program so that every kid after high school or college has the opportunity to spend a year serving their country in a military or domestic corps.

I’ve been reading Doris Kearns Goodwin’s magisterial narrative of the Teddy Roosevelt era, The Bully Pulpit. In 1903, Roosevelt felt a fierce urge to energize the American people around what he dubbed his “Square Deal for every man, great or small, rich or poor.” He spent nine weeks crossing the country by train, delivering 265 speeches. Most were carefully-crafted explanations of why corporate trusts needed to be reined in and workers needed to be respected. But when he arrived at the Grand Canyon, he began adding passionate calls to protect the environment and preserve nature. The trip not only refreshed his presidency, it refreshed him personally. The old boxer relished not only the “bully pulpit” but also being “in the arena.”

It’s probably not feasible for President Obama to embark on a weeks-long whistle-stop tour barnstorming for a new Fair Deal and a dedication to preserving the planet, though it would sure be fun to watch. It’s hard to break through all of the static, but after the midterms, it may be possible for him to propound a narrative that ties together his proposals for economic opportunity, poverty reduction, and immigration. A vision of a land of opportunity would appeal to most Republicans as well as Democrats.

For the final two years of his term, President Obama could stay above the fray and recognize that it would be pointless, given the dysfunctional nature of Congress, to try to accomplish anything significant. A rational calculus of risks and rewards, and a sober assessment of the possibilities for accomplishing anything in Washington, would argue for that approach. But I can’t help but hope that he decides to race against the clock rather than run it out.

TIME Iraq

An Evil That Must Be Stopped

ISIS is the most serious threat to American interests in a decade. Why we must counter it

Ryan Crocker, who probably knows the Middle East better than any other living American diplomat, recently cut to the chase about the situation in Iraq. “This is about America’s national security,” he told the New York Times. “We don’t understand real evil, organized evil, very well. This is evil incarnate. People like [ISIS leader] Abu Bakr al-Baghdadi have been in a fight for a decade. They are messianic in their vision, and they are not going to stop.”

We’ve been in the fight for more than a decade too. It began as a proportionate attempt to retaliate against those who attacked America on Sept. 11, 2001. We successfully ousted the Taliban government that supported Osama bin Laden in Afghanistan, but Osama and many of his top aides escaped. The war against al-Qaeda should have continued as a targeted special-forces operation, but the flagrantly disproportionate Bush-Cheney invasion of Iraq changed all that … and the Obama surge in Afghanistan didn’t help much, either. Suddenly we found ourselves locked in the middle of civil wars in both countries (or perhaps I should say “countries”). The President was right to extricate our combat troops from those futile fights.

But the rise of the Islamic State in Iraq and Syria (ISIS–or the Levant, ISIL, if you prefer) has changed the game again. Terrorism has a new name, and now, for the first time, it has a well-organized, well-funded, well-armed military with the ability to take and perhaps hold territory. There have been reports of al-Qaeda elements linking up with the Islamic State. There are reports of hundreds of would-be jihadis from around the world joining ISIS, including dozens from the U.S. ISIS is considered so extreme that Ayman al-Zawahiri, the leader of al-Qaeda’s central command, has condemned it. The Islamic State is metastasizing and committing mass atrocities with astonishing ferocity. It aspires to attack the U.S. and will, no doubt, soon attempt to do so. This is a threat we cannot ignore.

Yes, we’re sick of war, sick of the region and particularly sick of Iraq–but, as seemed clear in the days after 9/11, and less clear since, this is a struggle that is going to be with us for a very long time. It doesn’t need to be the thunderous, all-consuming fight that the Bush-Cheney government made it out to be. It will require a strategic rethink of who our friends and enemies are in the region. We may find that Iran is part of the ISIS solution rather than part of the problem–a problem that Saudi Arabia’s support for Sunni extremism helped create. We may even find ourselves on the same side as Syria’s disgraceful Bashar Assad: ISIS is the greatest threat to his continued rule.

There are real dangers here. We don’t want to take sides in what may well become a cataclysmic regional war between Sunni and Shi’ite. We don’t want to become the “air force of Shi’ite militias,” as former CIA director David Petraeus has said. The best way forward would be to work through a reconstituted Iraqi government, led by newly appointed Prime Minister Haider al-Abadi. But we’ve seen the danger of arming the Iraqis in the past; those arms are now being used against us by ISIS. In the best-case scenario, al-Abadi builds a government that wins back the trust of Iraq’s Sunnis, but that won’t happen overnight.

In the worst-case scenario, the U.S. military would have to fight the Islamic State from a Kurdish base; support for the peshmerga forces is essential. Any direct U.S. military action should be measured and proportionate–an insinuation rather than an invasion, taken in concert with allies who are capable of sophisticated covert operations. This time, as opposed to 2003, more than a few of the regional players on both sides of the sectarian divide want our help in the war on ISIS. The President may hope that he can keep U.S. involvement at current levels–air strikes and the presence of 800 special operators on the ground, who are mostly scouting the enemy and working up new targeting sets. But no one should be surprised if we find ourselves on a slippery slope toward more violence. There will be no escaping this fight, unfortunately.

There has been endless debate about who “lost” Iraq and Syria. Even Hillary Clinton and Barack Obama are squabbling about it. We don’t have the luxury of wasting time or political energy on that now. There is not a politician, policymaker or journalist who hasn’t been wrong about Iraq at some point. What’s needed is a clear and united sense of national purpose … as clear and united as it was on Sept. 12, 2001. Our war against al-Qaeda-style extremism isn’t over; it may have only just begun.

TO READ JOE’S BLOG POSTS, GO TO time.com/swampland

TIME Economy

Last Tango in Buenos Aires

Argentina’s debt snarl tells us how risky the global financial system still is

There’s a legal adage that goes, “Hard cases make bad law.” A recent U.S. court ruling against Argentina, which pushed the country into a new technical default on its sovereign debt, is a case in point. In 2001, Argentina defaulted on $80 billion worth of sovereign debt, the bonds that a country issues to raise money. It had to restructure, just as Greece had to more recently, and over the years, some 93% of creditors went along with the cut-rate deals, taking “exchange” bonds that paid 30¢ on the dollar. But some, like Elliott Management, the hedge fund started by Wall Street titan Paul Singer, held out. Tens of millions of dollars in legal fees later, Elliott won its case.

U.S. federal judge Thomas Griesa ruled earlier this summer that unless Argentina paid creditors like Elliott and other holdouts 100% of their claims, it couldn’t pay anybody else either. Paying Elliott in full would mean that, contractually, the country would also have to pay everyone else in full too–a $29 billion commitment. The case is full of gnarly legal and financial issues. But what it tells us is dead simple: the world financial order is still far too complex and opaque.

It’s tough to cry for Argentina–or the hedge funds. Elliott says Argentina’s claim that it has been victimized by “vulture funds” is a populist political strategy to drum up support for President Cristina Fernández de Kirchner’s flagging party. “Argentina isn’t a poor country. It’s a G-20 nation,” says Jay Newman, Elliott’s Argentina-portfolio manager. “It’s chosen for political reasons not to negotiate a fair settlement with us or more than 61,000 other bondholders.” Certainly no one would argue that the Argentine government is a paragon of best practices; Argentina, which had the same per capita GDP as Switzerland in the 1950s, has defaulted eight times.

Then again, the vultures haven’t done so badly either. Many bought bonds postdefault for pennies on the dollar. Now they are eschewing an already rich return for a regal one, while setting a precedent that could make creditors reluctant to cooperate when nations default in the future. “This has become a morality play which has given rise to a host of new legal problems,” says Jonathan Blackman, the Cleary Gottlieb partner defending Argentina. Both sides are waging an ugly media war complete with ad campaigns, as thousands of other creditors and financial institutions around the world nervously await the final result.

The Argentine crisis says three important things about the global economy. First, the balance between creditors and debtors has shifted. As data from the McKinsey Global Institute (MGI) show, there’s more debt globally than there was before the 2008 financial crisis. But now, the largest portion of it consists of public-sector debt. “Debt in the economy is like a balloon,” explains Susan Lund, a partner at MGI. “When you squeeze it out of one place, it grows in another.” With the rise in public debt comes a greater risk of sovereign defaults, which can wreak havoc on the global economy. (Remember the euro crisis?)

Second, the global economy is becoming more fragmented. The fact that a federal court in New York City ruled in favor of the holdouts is a sign that the global economy is splitting along national and ideological lines: British courts tend to go with majority rule in sovereign cases, and local markets have any number of other ways of handling sovereign-debt deals. The BRIC nations, aside from increasingly cutting their own trade deals, have set up a new development bank, which may become a source of capital for countries like Argentina if they remain shut out of the Western credit markets. That could give Russia and China more leverage over, for example, Argentina’s natural resources. (The country has the world’s second largest shale-gas deposit.)

Finally, the case shows how much work remains to be done in making our financial system more transparent. In addition to establishing a single standard for sovereign default, we desperately need to make complex security holdings more visible. Academics like Joseph Stiglitz say Elliott Management actually stands to benefit from an Argentine default, since nearly $1 billion worth of credit-default swaps exist on the country; that’s insurance that will pay out now that Argentina has defaulted. While the Elliott subsidiary that went to court against Buenos Aires says it holds no such swaps, the hedge-fund firm as a whole doesn’t disclose trading positions, and the swaps holdings of individual companies aren’t public record. They should be. Knowing exactly who stands to gain–or lose–from fiscal turmoil that can affect all of us could help make the right fixes at least a little more apparent.

TO READ MORE BY RANA FOROOHAR, GO TO time.com/foroohar

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