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from David Rohde:

Iran’s offer is genuine — and fleeting

President Barack Obama’s speech to the United Nations General Assembly in New York on Tuesday is not expected to generate much excitement. Battered by his uneven handling of Syria, no bold foreign policy initiatives are likely.

Instead, the undisputed diplomatic rock star of the gathering will be Iran’s new President Hassan Rouhani. In his first six weeks in office, the cleric has carried out one of the most aggressive charm offensives in the 34-year history of the Islamic Republic. And the Obama administration responded Thursday, saying the president would be open to having a meeting in New York.

If Obama and Rouhani, who will both address the assembly on Tuesday, simply shake hands in public, it will be the seminal event of the gathering’s first day.

“More than any words he might say, Rouhani's greatest gesture would be shaking hands with President Obama,” Karim Sadjadpour, an expert on Iran at the Carnegie Endowment for International Peace, said in an email Thursday. “It would be one of the most significant geopolitical handshakes in years.”

from Breakingviews:

Activist would contest Obama’s capital allocation

By Daniel Indiviglio
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

If Barack Obama were the chief executive officer of the United States, an activist investor would have a field day contesting his allocation of capital – political capital, that is. In the CEO analogy, an uppity shareholder would want more focus on the economy, jobs and fiscal challenges.

from The Great Debate:

Yellen: An economic tonic for the sluggish recovery

The money markets rejoiced when Larry Summers pulled out of the race to be Federal Reserve chairman. The reason was simple, self-serving and not necessarily wholesome: A different chairwoman -- most likely Janet Yellen -- would be more inclined to continue the Fed’s program of large-scale bond purchases and low interest rates.

Stock and bond markets, of course, love low interest rates. Cheap rates on bonds push stock values up as investors seek higher returns. Interest rates and bond prices move inversely -- so cheap money keeps bond prices high. And low interest rates are good for mortgage demand and housing prices.

from David Rohde:

From Cairo to Geneva, Obama steps back from Mideast

It started as “a new beginning” and ended as “America is not the world’s policeman.”

Between President Barack Obama’s historic 2009 address to the Islamic world in Cairo to his address to the American people on Syria last week, Obama has zigged and zagged on Mideast policy, angering supporters and detractors alike.

from David Rohde:

Dictators never looked so good

Dictators have never looked so good.

Vladimir Putin is saving the United States from another Mideast military intervention. Bashar al-Assad promises to 'thin the herd' of jihadists and hold Syria together. And Egypt’s new strongman, General Abdal Fattah el Sisi, says he is sorting out the Muslim Brotherhood. With each passing month in the Middle East, it seems, authoritarianism grows more attractive.

Leaders described as “repressive” sound eminently reasonable. They promise to bring order to chaos without dirtying American hands. Putin’s op-ed article in the New York Times on Wednesday was the latest example.

from The Great Debate:

A potential turning point for Syria

In the dizzying debate over U.S. military intervention in Syria, one key point of consensus stands out: Both the Obama administration and Congress recognize that the resolution to Syria’s conflict must come through a negotiated settlement. Key international actors share the same conclusion.

But how do we get there? Russia’s recent proposal to put Syrian chemical weapons under international control could open a viable path to a long-sought diplomatic solution.

from The Great Debate:

Is this why Obama won the Nobel Peace Prize?

In December 2009 the world was treated to the unexpected news that President Barack Obama had been awarded the Nobel Peace Prize. Among those most surprised was Obama himself. Not many sitting American presidents have won the award. In fact, Obama was only the third.

Now, as Obama stumbles his way through a proposed military strike on the Syrian government, it seems the president has not paid nearly enough attention to the history of world leaders who have won this international honor. The list of Peace Prize winners impresses: Henry Dunant, the founder of the International Red Cross; American social reformer Jane Addams; George Marshall, the architect of peaceful post-World War Two Europe; Martin Luther King Jr.; Burmese freedom fighter Aung San Suu Kyi, and Nelson Mandela.

from Ian Bremmer:

The vote on Syria hardly matters

The details of American involvement in Syria seem to change every minute. First the Obama administration was going to launch a “limited, narrow” attack, with international backing, against Syrian President Bashar al-Assad’s regime as a punitive response to chemical weapons use. Then the administration was going to do it more or less alone. A week and a half ago, Obama punted on the issue, asking for congressional backing (but all the while stressing he could strike without Congress’ permission). And now, thanks to gaffe diplomacy, it’s possible that America won’t strike Syria at all, as the administration is willing to delay a vote in favor of pursuing a diplomatic solution -- like Russia’s proposal that Syria hands over its chemical weapons to the international community. That Russia’s plan is likely aimed more at scuttling strikes than at actually rounding up Assad’s chemical arsenal seems beside the point.

For more than a week, the prospect of a strike has dominated headlines, with a vote billed as the all-important variable. Here’s what all that hype is missing: While Obama’s decision to punt to Congress had far-reaching implications, at this point whether the U.S. actually strikes hardly matters. Whether the vote goes through, goes down, or never happens, it doesn’t have a huge impact on Obama, Syria, or America’s underlying priority in the region -- Iran.

from David Rohde:

A Syria gift Obama must use wisely

In a sober, narrowly framed speech Tuesday night,  President Barack Obama argued that deterring chemical weapons use - not regime change - remained the goal of any American military strike in Syria. Ob ama said he would delay a vote in Congress on the issue, seek a UN resolution requiring Assad to give up his chemical weapons and explore Russia's surprising - and probably  - offer to help secure Syria's chemical weapons.

The speech's most interesting passage was its final one. On the eve of the 9/11 anniversary, Obama offered a rough outline of a new, more limited vision of America's role in the world.

from The Great Debate:

Making frenemies with Putin

Anyone who ever worried that Barack Obama might not be Made in the USA should take comfort from his quintessentially American response to Russian President Vladimir Putin’s decision to give temporary asylum to Edward Snowden: pouting.

Democratic and Republican presidents alike tend to believe that if other countries don’t act like our “friends,” then they must be our enemies. This attitude creates unrealistic expectations that slow the healing of old injuries, and subverts the potential for a meeting of minds on critical issues -- such as Syria’s chemical weapons arsenal.

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