Week of the U.S.-Iran Understanding, Trump’s Birthday, Police and the Capital Market Regulator
The column argues that Israel needs a state commission of inquiry into the decision-making that led to what it calls the Iran fiasco, but says Benjamin Netanyahu’s government will not provide a serious investigation. It says the cabinet has become dysfunctional, with ministers attacking the attorney general, the army chief and other officials instead of challenging the prime minister or asking hard questions about the campaign’s goals and Donald Trump’s role. The opposition is also criticized for remaining silent.
A second section describes Trump’s weekend in Washington after signing a memorandum of understanding with Iran, which the writer says marked an American strategic defeat. Trump then hosted a UFC event on the White House lawn, where he celebrated his 80th birthday with fight spectacle, fireworks, flyovers, and what the piece calls a $60 million party. The column says the scene showed a president behaving like a child while a major power’s hegemony appeared to be collapsing.
Another section criticizes the police under Itamar Ben Gvir. Police spokesperson Aryeh Doron called Yair Golan “one of the greatest enemies of Israel,” later apologizing, while police separately banned a Pride March T-shirt reading “Fuck Ben Gvir.” The writer argues both cases show a dangerous democratic backslide, with the police adopting Ben Gvir’s political tone rather than remaining neutral and professional.
The final section turns to the Israel Capital Market, Insurance and Savings Authority and says Phoenix has repeatedly found ways around regulatory limits. Phoenix invested NIS 135 million in a dedicated cell within a foreign reinsurer, enabling it to sell reinsurance to Israeli companies under that global body’s rating, despite regulator Amit Gal previously blocking a similar deal with Ayalon over competition concerns. The article says Phoenix also bypassed a limit on its holdings in El Al’s frequent-flyer program by moving the asset among unregulated group entities. It argues regulators are missing the core problem, since large financial groups can neutralize oversight through corporate structure alone.
