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As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now
(JTA) — As much of the financial world increasingly eyes political developments in Israel with concern, a company that specializes in assessing investments based on social responsibility criteria made a special announcement Wednesday in which it declared Israel “a low-risk country.”
That designation is both a signal to investors that they are unlikely to get entangled in human rights abuses or other scandals if they put their money in Israel, and a reassurance intended for pro-Israel advocates who have accused the company of bias against Israel.
The announcement from the multibillion-dollar Chicago-based financial research firm Morningstar is the latest entry in a debate about how companies around the world should regard the Israeli-Palestinian conflict. One side says that Israel should be treated as regular Western democracy and the other says that Israel’s treatment of the Palestinians should put the country in the class of authoritarian regimes.
But another debate about Israel’s investment worthiness has emerged in recent months following the election of a new Israeli government led by Benjamin Netanyahu, whose slim parliamentary majority relies on the support of parties with far-right platforms.
Netanyahu, who is on trial for corruption, has vowed to overhaul Israel’s judicial system and rein in the independence of the courts. Many financial analysts consider a weakened judiciary a red flag for investors.
Sarah Wirth, a spokesperson for Morningstar, said that its analysis designating Israel a low-risk country does not yet account for recent developments in Israel.
“Some of the changes developing in Israel may impact their Country Risk Rating once we incorporate them into our analysis,” Wirth wrote in an email to the Jewish Telegraphic Agency in reference to the judicial reform plan.
The latest warning about Israel’s place in the global economy emerged Friday with the leak of an internal report written by JPMorgan, one of the largest banks in the world.
The report compared Israel to Poland, which passed a similar judicial reform in 2016 and saw a downgrade to its credit rating, which was a major blow because national credit ratings can either attract or drive away investments from abroad.
JPMorgan analysts wrote that Israel’s credit rating still “stands comfortably in the investment grade bucket” but that Netanyahu’s plan could cause it to go down.
The report adds to a warning by another Wall Street giant, Goldman Sachs, which said last week that the Israeli shekel could be affected by “growing concern over domestic political developments.”
“The five most recent elections over the past three-year period have had typically limited read-through to financial markets,” Goldman Sachs economist Tadas Gedminas wrote in a report. “This is not to say that the current situation could not have a more meaningful impact this time around, and we will closely monitor ongoing developments.”
Netanyahu has rejected criticism of his judicial plan by saying that the proposed reforms are being misrepresented by his critics and that they would merely bring Israel’s courts in line with courts in other Western countries. The plan would limit the ability of the Supreme Court to rule laws and government actions as unconstitutional, give the government control over the appointments of new judges and end the independence of the position of legal advisor across various government offices, among other measures.
Netanyahu has also said that regardless of the warnings by analysts, international investors are excited about Israel and eager to acquire equity in Israeli companies. His latest pronouncement came from France where he said he met with 60 local business leaders.
“What they’re saying about investors running away is nonsense,” Netanyahu said. “We want to increase our investments in Israel.”
Some of Israel’s own business leaders are concerned enough about the country’s direction that they are choosing to decamp. The CEO of tech company Verbit, which was valued at $2 billion in 2021, announced Tuesday that he would leave the country to avoid paying millions in taxes as a protest of the judicial overhaul plan.
“Over the past few years, I’ve paid tens of millions of dollars in taxes and my company has paid hundreds of millions in taxes,” Verbit CEO Tom Livne said on Israel’s Channel 12. He encouraged others in Israel’s vaunted tech sector to do the same.
Livne’s announcement comes about a week after two Israeli tech firms, including one that was valued at $3.7 billion in 2021, said they would withdraw assets from Israel for the same reason.
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VIDEO: A Hasid gives us a tour of Morocco in Yiddish
דער ירושלימער יוטוב־שטערן וועלוול קירשנבוים האָט לעצטנס אַרויסגעשטעלט אַ ווידעאָ אויף ייִדיש פֿון אַ פּרעכטיקן וויזיט, וואָס ער האָט געמאַכט אין מאַראָקאָ. עס באַגלייט אים זײַן חבֿר אַבֿרהם פּרץ.
אינעם ווידעאָ זעט מען ווי קירשנבוים דאַוונט שחרית מיט די אָרטיקע ייִדן און באַזוכט אַ גוט אָפּגעהיטענעם בית־עולם, וווּ עס ליגן באַערדיקט גרויסע צדיקים ווי למשל הרבֿ חיים בן עתר (1696–1743), באַקאַנט ווי דער „אור החיים“. „מענטשן מיינען, אַז נאָר אין אייראָפּע זענען דאָ קבֿרים פֿון צדיקים!“ זאָגט קירשנבוים.
מיר זעען אַ גרויסע, שיינע שיל מיט אַ פֿײַנער אַרכיטעקטור אין קאַזאַבלאַנקאַ; דעם גרויסן אַראַבישן שוק, וווּ קירשנבוים קויפֿט זיך אײַן מלבושים פּונקט ווי די מאַראָקאַנער גייען אָנגעטאָן. ער באַוווּנדערט אויך די שיינע טיי־גלעזער און טשײַניקן, וואָס מע פֿאַרקויפֿט דאָרט, און באַקענט זיך מיט אַ ייִדישן סוחר וואָס האַנדלט מיט זילבער און גאָלד, פּונקט אַזוי ווי זײַן טאַטע און זיידע האָבן געטאָן פֿאַר דור־דורות.
The post VIDEO: A Hasid gives us a tour of Morocco in Yiddish appeared first on The Forward.
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Conservative and Christian movies are coming for Hollywood
A star-studded new movie set in a Soviet prison is coming out in November. James Franco and Rob Lowe anchor the cast of Confession, playing a brutal prison guard and an imprisoned dissident professor, and a disheveled Nick Nolte appears as a fellow prisoner.
These actors were once huge gets, and their names could convey legitimacy to a project. Nolte and Franco both have received Academy Award nominations. Lowe was a member of the Brat Pack, and was a regular on The West Wing.
Confession, written by Ben Shapiro and produced by the rightwing tabloid-esque news site The Daily Wire, is not the expected fare for actors with that kind of name recognition; Shapiro’s screenwriting aspirations have been the target of ridicule for years.
Nevertheless, this isn’t the only Daily Wire production getting big names; Danny Trejo signed onto a pro-ICE movie about Minneapolis in the aftermath of the Renee Good shooting, and Jonathan Majors led Run, Fight, Hide: Infidels earlier this year.
Each one of these actors has been, in some way, canceled or in career doldrums so may have been more open to working with The Daily Wire. And some have claimed that they did not know who Shapiro was, or what his politics were; Trejo’s son, Gilbert, said his 82-year-old father did not endorse ICE and was misled about the movie before he signed his contract.
Movie studios have struggled through the pandemic and the streaming era, both of which have tanked box office receipts, leaving the field open for movies from offbeat production studios. In addition to The Daily Wire, there has been a whole ream of Christian movies attempting to shift the stereotype of bible movies — that they’re preachy, low-budget straight-to-TV affairs with cardboard acting — to something more prestigious, or at least profitable.
The Christian company Angel Studios has been placing screenings of the half philo-semitic, half-antisemitic Jesus TV series The Chosen in movie theaters across the country, produced the right-wing hit The Sound of Freedom and is pumping out faith-based movies like the animated King of Kings Christmas story and David, a kiddie movie about the biblical king. Recently, Pinnacle Peak Pictures, another faith-based production company, premiered Daniel and the Fiery Furnace, another bible movie that was notable enough to merit a review in The New York Times. (Though admittedly it wasn’t a particularly positive one.)
For decades, Hollywood, and the media industry at large, has been associated with liberalism, progressive politics and diversity. (This is part of why conservative conspiracy theorists often insist that Jews control the media.) Even when conservatives are in power, satirical movies have poked fun at the ruling class — Team America: World Police spoofed George W. Bush’s foreign policy, while M*A*S*H critiqued Richard Nixon. During the current Trump administration, we’ve seen One Battle After Another lambasting immigration policies and rising white nationalism, Eddington on misinformation and populism, and The Apprentice depicting Trump directly.
But a rising number of higher-budget, bigger releases from the right wing, whether The Daily Wire’s conservative political parables or the Christian fables, are bringing a new kind of messaging — about the importance of God and country, about gender roles, about about the centrality of Jesus to the U.S. — to the American movie-going public.
This is no accident. A group of powerful conservative Christians, many of whom worked on Project 2025, are proponents of the Seven Mountains Mandate, a blueprint for Christian nationalism that instructs Christians to gain influence and control over the “seven mountains” of society — which include media, entertainment and the arts. The Mandate is part of the New Apostolic Reformation, a decentralized evangelical movement embraced by millions of Americans.
Jeremy Boreing, the director of many Daily Wire movies — though he has since left the company — said on a podcast hosted by businessman Patrick Bet-David that “It had always been part of our strategy to move into making culture, not just criticizing culture” as a way of proving that “there is a future where conservatives aren’t losing. There’s a future where we have political power and cultural power.”
Cultural power, of course, requires more than just a lot of movies; they have to be well-done, or at least appear to be. Previous Daily Wire productions, as well as other right-wing, MAGA movie ventures, have been hacky. Lady Ballers, about an unsuccessful men’s basketball team pretending to be women so they can dominate the league, was an unsubtle, unfunny and ultimately unwatchable spoof of transgender athletes. And even plenty of higher-budget attempts, like Daniel and the Fiery Furnace, can still fall victim to wooden acting and writing.
But now, with the financial success of movies like The Sound of Freedom and biblical parables like The Chosen, bigger stars are being drawn to projects like the Daily Wire’s lineup of pro-ICE, anti-immigration and anti-LGBTQ movies. With those bigger stars may come new audiences who might not have watched a Christian movie or Daily Wire project otherwise. And where there is money and viewers, mainstream Hollywood will go, too, no matter how progressive people expect the industry to be. We’ve already gotten a biblical epic from Amazon Prime, with The House of David, and there are likely to be many more to come.
After all, it wasn’t so long ago, after all, that Cecil DeMille’s The Ten Commandments was the biggest movie in town.
The post Conservative and Christian movies are coming for Hollywood appeared first on The Forward.
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‘Heil’ Mary? New Atlanta Falcons logo inspires Nazi comparisons
If there was something off about the logo the Atlanta Falcons unveiled on social media Wednesday, whoever runs their accounts did, uh, not see it.
Behind the black falcon graphic that began appearing on the football team’s helmets in the 1960s was a new background — a flag of red, tan, black and white vertical stripes. To thousands of people who responded to the logo, it looked distinctly German — in a 1930s kind of way.
“The Atlanta Falcons are preparing to invade Poland,” one fan wrote.
A day after its posting, the new profile picture had unleashed a deluge of Nazi memes in the 4,000-plus replies on X. One picture swapped in the logo for Nazi flags in the background of a historical photo of a Hitler rally. Another edited the Falcon claw to look like a Nazi salute.
Others depicted Hitler in a Falcons cap, references to Inglourious Basterds and the Battle of the Bulge and a World War II joke invoking a blown lead in Super Bowl LI.
“Falcons were up 28-3 at Dunkirk,” that tweet read.
The Falcons’ snafu enters a small but growing catalogue of Reich-coded brand mixups. Who can forget the German national soccer team’s ‘44’ soccer jerseys? There was also the swastika-emblazoned Hallmark gift wrap; the accidental Hitler mugs; and (for my money) the worst of the bunch, Zara’s concentration camp uniform shirt.
All of those have been addressed; so far, the Falcons’ has not. We’ve reached out to them for comment.
The post ‘Heil’ Mary? New Atlanta Falcons logo inspires Nazi comparisons appeared first on The Forward.
