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The rise of Israel's finance minister Bezalel Smotrich

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The rise of Israel's finance minister Bezalel Smotrich

A look at the rise Israel’s finance minister who has become perhaps the most influential man in the country, alongside Prime Minister Benjamin Netanyahu.



MARY LOUISE KELLY, HOST:

Israel’s finance minister has become arguably the most influential man in the country, alongside Prime Minister Benjamin Netanyahu. He’s an ultranationalist and a West Bank settler who has repeatedly called for Israel to resettle the Gaza Strip. He has threatened to collapse Netanyahu’s government if the war in Gaza ends. And this week, the war resumed after a 42-day ceasefire ended with Israeli strikes that killed more than 400 Palestinians. NPR’s Hadeel Al-Shalchi looks into his rise to power in Israel.

HADEEL AL-SHALCHI, BYLINE: Israeli Finance Minister Bezalel Smotrich was once a wanted man by Israel’s version of the FBI. In 2005, Israel was rocked by mass protests. Israeli settlers were demonstrating against the removal of Jewish settlements from Gaza. At the time, Dvir Kariv was an agent with Israel’s internal security agency, the Shin Bet.

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DVIR KARIV: (Non-English language spoken).

AL-SHALCHI: Kariv says late on July 11, 2005, they raided a home in central Israel.

KARIV: (Non-English language spoken).

AL-SHALCHI: He says, in the basement, we found several jerry cans filled with a lot of oil and fuel.

KARIV: (Non-English language spoken).

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AL-SHALCHI: They arrested five people there. One of them was a student called Bezalel Smotrich. Kariv says the men were interrogated for 3 1/2 weeks.

KARIV: (Non-English language spoken).

AL-SHALCHI: “From the Shin Bet’s perspective, we successfully thwarted what Bezalel Smotrich and his group had planned,” Kariv says. While he says he can’t divulge what that was, Israeli media has reported that Smotrich and his group were planning to blow up a major Israeli highway. Smotrich remained completely silent during his interrogations and was released without charge. He did not give away his secrets, but later, as a politician, he spoke a lot about what drives his political motivations.

(SOUNDBITE OF ARCHIVED RECORDING)

BEZALEL SMOTRICH: (Non-English language spoken).

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AL-SHALCHI: “My long-term desire is for the state of Israel to be governed according to the Torah or Jewish holy scripture,” he once told Israeli radio.

Smotrich is an ultranationalist religious Zionist, a type of Judaism that branched out from the secular Zionist movement that founded Israel. While many ultrareligious Jews historically rejected the Zionist movement, a minority accepted it. Many of them embraced the settlement movement after Israel took control of the West Bank and Gaza Strip in the war of 1967. Tomer Persico is a scholar of Jewish extremism.

TOMER PERSICO: The more Jews settle the lands that the state of Israel has conquered, the more redemption is coming close. So it’s a Messianic movement – very motivated, pious and devoted religion.

AL-SHALCHI: Persico says Smotrich is on the far right of the spectrum of religious Zionism, also known as ultra-Orthodox nationalists, who follow Jewish law and reject values like feminism, liberalism and LGBTQ rights. Smotrich and his followers believe that the Israeli-occupied West Bank is the Jewish people’s ancestral home featured in the Bible, a God-given land they must make a permanent part of Israel.

Smotrich, a lawyer, was first elected to parliament in 2015. Two years later, he wrote a manifesto called “Israel’s Decisive Plan.” In it, he writes how to tackle the main obstacle to settling the West Bank – the Palestinians.

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PERSICO: Smotrich gives the Palestinians basically three options – emigrate, surrender and live as, let’s say, subjects without the right to vote, or fight and die.

AL-SHALCHI: Only a few years later, Smotrich became the leader of the Religious Zionist Party. Ohad Tal is a lawmaker in Smotrich’s party.

OHAD TAL: I think that he’s a very clever and smart person who understands the reality. He’s presented as somebody radical because people find it hard to accept the truth.

AL-SHALCHI: Smotrich was perfectly poised for what happened in the most recent Israeli national election. Prime Minister Benjamin Netanyahu won and looked for allies to form a coalition, but he’s facing trial on corruption charges. Persico says Netanyahu was desperate.

PERSICO: He didn’t have anyone else. Because of his ongoing trial, people said they would not sit in parliament with him.

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AL-SHALCHI: The only parties that would agree to form a government with Netanyahu were the ultra-Orthodox and religious Zionists, including Smotrich’s party. Netanyahu formed a coalition with them, giving them more power than they had ever had before. The prime minister appointed Smotrich as finance minister and to the Ministry of Defense. Jewish extremism scholar Persico.

PERSICO: And in that position, he has basically taken over the civil management of settlers in the occupied territories, meaning he is on the verge of official annexation.

AL-SHALCHI: After the October 2023 attacks on Israel, Netanyahu called on Smotrich to be part of his war cabinet. The finance minister reached for his faith.

(SOUNDBITE OF ARCHIVED RECORDING)

SMOTRICH: (Non-English language spoken).

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AL-SHALCHI: “I struggled with this decision and gathered my rabbis to consult with them. After all, I want to influence the war,” he told a group of religious students last year in a video posted online.

Smotrich is reported to regularly consult with a group of rabbis known as the Five. Rabbi Yehoshua Shapira is one of them. He has opposed a hostage deal.

(SOUNDBITE OF ARCHIVED RECORDING)

YEHOSHUA SHAPIRA: (Non-English language spoken).

AL-SHALCHI: “There is joy that hostages will return, but despite that joy, this is a very bad deal for Israel,” Shapira said in an online lecture.

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Persico says Smotrich’s faithful devotion is evident every time he threatens to collapse Netanyahu’s coalition if the war doesn’t continue in Gaza, where he ultimately wants to see Jewish settlements rebuilt.

PERSICO: He is the primal force that is withholding the end of the war.

AL-SHALCHI: Smotrich has leveraged this power to further settler ambitions in the West Bank. Just days after Israel paused the war in January and agreed to a deal with Hamas for the release of hostages, Netanyahu ordered the escalation of incursions in the West Bank, causing massive destruction in urban refugee camps and displacing thousands of Palestinians. Israel says it’s to weed out Palestinian militants.

PERSICO: It’s very feasible to say this is just a card Netanyahu gave Smotrich in order to appease him when going into the hostage deal.

AL-SHALCHI: Smotrich was sidelined under President Biden’s administration for his anti-Palestinian rhetoric, and in Israel, polls show that he would not survive another election. Only 11% of the Israeli population voted for Smotrich’s party in the last elections in 2022. This month, Smotrich was invited to Washington, D.C., to meet with his counterpart in President Trump’s administration.

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(SOUNDBITE OF ARCHIVED RECORDING)

SMOTRICH: (Non-English language spoken).

AL-SHALCHI: Smotrich rarely gives interviews to U.S. Western media. This month, he gave his first press conference since his trip to the U.S., and I posed a question to him.

(SOUNDBITE OF ARCHIVED RECORDING)

AL-SHALCHI: I have two questions. Do you know anything about…

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I ask him about plans for the annexation of the West Bank. Smotrich objects to the word annexation.

(SOUNDBITE OF ARCHIVED RECORDING)

SMOTRICH: (Non-English language spoken).

AL-SHALCHI: “Annexation implies taking something that isn’t yours,” the minister says. “Judea and Samaria” – the biblical name for the West Bank – “belongs to us.”

Trump told reporters his administration would announce its position on West Bank annexation by early March. That date has passed.

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(SOUNDBITE OF ARCHIVED RECORDING)

SMOTRICH: (Non-English language spoken).

AL-SHALCHI: Smotrich says, “Israel and the U.S. are in dialogue about it, and I prefer not to go into details.” I reply…

(SOUNDBITE OF ARCHIVED RECORDING)

AL-SHALCHI: Is Trump the man who will make it happen for you? Will he support you to make it happen?

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SMOTRICH: (Non-English language spoken).

AL-SHALCHI: “We believe this is the right thing to do,” he says. “We’re engaged in discussions and dialogue.”

So while Smotrich firmly believes he has God’s mandate to take over the West Bank, the question is whether he also has Trump’s blessing.

Hadeel Al-Shalchi, NPR News, Jerusalem.

(SOUNDBITE OF MUSIC)

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NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

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Finance

How can I illustrate our financial position to a spouse who shows little interest?

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How can I illustrate our financial position to a spouse who shows little interest?

Reader question: My spouse has little interest in our financial position. As we age, this concerns me. I try to share some basic information (income, spending, account balances, debt, and so on) each month but rarely get a response. I think graphs or charts might be of more interest to her than a bunch of numbers. What recommendations would you have for illustrating our financial position so that I am not the only person aware of how we are situated? Thanks!

Answer: Your situation is pretty common. Most couples I know develop a division of labor over time, where one person is in charge of financial matters and the other person is less involved. That’s definitely the case for my husband and me. He’s in charge of paying all the monthly bills and preparing our tax returns, but the financial planning and investment decisions are up to me. This type of arrangement might work well for a long time, but can become less sustainable with age, particularly if the “finance person” in the relationship dies or develops a major health issue.

Online tools and mind maps

Illustrating your financial situation with charts and graphs is a great idea that might help your spouse become a little more involved. Morningstar’s  Portfolio X-Ray  tool includes a variety of images that help illustrate your financial situation. Websites for most major brokerage firms also include some visual tools. Schwab, for example, offers a Portfolio Checkup and a bar graph illustrating your account’s monthly income from dividends and interest income. Vanguard has a Portfolio Watch tool and a variety of performance illustrations, tools, and calculators.

A  mind map, which we used with clients when I worked for a financial advisory firm, can be another way to picture your entire financial situation on one page. There are various  softwaretemplates  for drawing a mind map, or you can simply sketch it out with a large sheet of paper and a pencil. Start with your names at the center of the page. Then draw spokes connecting to various categories, such as names of other family members; investment accounts; real estate and other assets, insurance policies, estate plans, key goals and values, and contact information for accountants, estate planners, and other professionals. It can be helpful to go through the mind map together and make any updates needed at least once a year.

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Other ways to communicate about money

A few other ideas—though not related to charts and graphs—might also be useful.

I like the idea of putting together a  net worth statement  that itemizes cash, taxable accounts, real estate, retirement accounts, and debt for each member of the couple as well as items owned jointly. It’s a good idea to update this document at least once a year and  discuss it as a couple. If you set up the document as a spreadsheet, you can include columns with additional information such as account numbers, what each account is used for, which accounts are subject to required minimum distributions, or tax issues like potential capital gains.

Many couples also put together a  binder  (sometimes humorously called a “Doomsday Book”) that contains information about where to find important paperwork, insurance policies, how bills are paid, what each account is for, steps the surviving spouse will need to take, final wishes, and any other critical information.

A well-qualified financial adviser can bridge the information gap

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Finally, you could consider working with a good  financial adviser,  who can help involve your spouse in financial matters while you’re still living and step in to fully manage investments and personal finance decisions if you pass away before your spouse. Make sure the adviser holds the Certified Financial Planner designation and charges fees that are reasonable. Although a 1% fee is still the industry standard for accounts of $1 million or less, it’s possible to find advisers who charge significantly less, including a few who price their services based on hours worked instead of a percentage of assets under management.

_____

This article was provided to The Associated Press by Morningstar. For more personal finance content, go to https://www.morningstar.com/personal-finance.

Amy C. Arnott, CFA, is a portfolio strategist for Morningstar and co-host of The Long View podcast.

Related links:

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What If This Turns Out to Be a Terrible Time to Retire?

https://www.morningstar.com/personal-finance/what-if-this-turns-out-be-terrible-time-retire

Bill Bengen: ‘Inflation Is the Greatest Enemy of Retirees’

https://www.morningstar.com/retirement/bill-bengen-inflation-is-greatest-enemy-retirees

3 Big Questions to Ask Your Aging Parents

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https://www.morningstar.com/personal-finance/3-big-questions-ask-your-aging-parents

Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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Finance

Proximo Congress 2026: US Energy & Infrastructure Finance | Insights | Mayer Brown

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Proximo Congress 2026: US Energy & Infrastructure Finance | Insights | Mayer Brown

Mayer Brown is a proud sponsor of Proximo Congress 2026. This senior meeting of the US energy, infrastructure, and digital infrastructure finance community is shaped around the questions credit and investment committees are actually asking in 2026: how asset classes are converging, how risk is being priced in a recalibrated policy and geopolitical environment, and how public and private capital are being structured together to deliver projects at scale.

Mayer Brown has also been recognized for three separate awards which will be presented during the event. These awards include:

  • Proximo North America Transport Deal of the Year 2025 – SR 400 Peach Partners
  • Proximo North America Rail Deal of the Year 2025 – Brightline West
  • Proximo North America LNG Deal of the Year 2025 – Port Arthur LNG 2

For more information, visit the event website. 

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Finance

What are nonconforming mortgages and what are the risks?

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What are nonconforming mortgages and what are the risks?

If you have ever taken out a mortgage, you’ll know there are a lot of requirements to meet. You may need to put down a certain amount and have a debt-to-income ratio below a certain threshold. You may also run into limits on how much you can borrow or what sources of income the lender will count.

These rules do not apply to all mortgages — just to conforming mortgages, which is what the majority of borrowers take out. However, mortgage lenders are increasingly offering what are known as nonconforming loans, or mortgages that do not “comply with every one of the strict standards put in place after the housing crisis,” said The Wall Street Journal. While “still a small portion,” the “share of mortgages using alternative lending practices” has “doubled in size over the past three years.”

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