Jay Solomon of the Wall Street Journal reports on a huge throwing of the dice:

The Obama administration is considering lifting a ban on regular diplomatic contacts with Iran and looking at ways to develop a direct line of communication to Supreme Leader Ali Khamenei, said officials briefed on the deliberations.

American and European officials say Mr. Khamenei is the only Iranian leader who can make the ultimate decision to suspend or freeze Iran’s nuclear program.

"The key issue is now to find a channel to Khamenei," said a senior Western diplomat briefed on the Obama administration’s policy review in recent days. "If the supreme leader moves, he’s going to do it in a very prudent and incremental way."

The consensus view, according to Solomon, is that this outreach should occur before the June elections, "despite concerns that such recognition could strengthen the position of hard-line President Mahmoud Ahmadinejad."

But hey: you guys capped Chas Freeman, so, you know, you’re winners too.