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☆ SBF Faces Prison, but ‘Effective Altruism’ Lives On
▼ + stars: | 2024-01-15 | by ( Andy Kessler | ) www.wsj.com time to read: +1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson, Jason Riley and Dan Henninger. I was looking forward to the March trial and seeing the politicians who accepted the convicted fraudster’s donations squirm like worms. Beyond trying to stave off crypto regulations, he was shoveling millions to the effective-altruism movement, which continues to infiltrate governments more than most people realize. With SBF facing a long term in the big house, has effective altruism landed on the ash heap of history? Did you know proponents of the movement basically wrote the Biden administration’s recent executive order on artificial intelligence?

Persons: Kim Strassel, Kyle Peterson, Jason Riley, Dan Henninger, Mark Kelly, Sam Bankman Organizations: Getty, Justice Department, Biden

☆ California Invents a Crazy New Tort
▼ + stars: | 2024-01-15 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson, Jason Riley and Dan Henninger. Images: AP/AFP/Getty Images/wawog_now via Instagram Composite: Mark KellyBusinesses are often sued for selling allegedly faulty products that aren’t actually defective. Last week a California appeals court ruled that businesses can also be sued for failing to develop a product. Some 24,000 patients have sued Gilead Sciences in California state court for failing to introduce an allegedly safer version of an HIV drug. The plaintiffs don’t argue that the drug is defective or lacked adequate warnings.

Persons: Kim Strassel, Kyle Peterson, Jason Riley, Dan Henninger, Kelly, Gilead Organizations: Getty, Gilead Sciences, Drug Administration Locations: California

☆ Wisconsin’s Act 10 Is in Jeopardy
▼ + stars: | 2023-12-06 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

Journal Editorial Report: The week's best and worst from Bill McGurn, Kyle Peterson, Allysia Finley, Dan Henninger & Paul Gigot. Images: Getty Images/AP/ Composite: Mark KellyWisconsin progressives went for a judicial abuse trifecta last week, filing a lawsuit to overturn Act 10, the landmark 2011 law that limited the ability of public unions to bargain collectively. The case is part of the Democratic campaign to use the new liberal majority on the state Supreme Court to redraw the state’s legislative district maps and end school choice. Scott Walker , has saved the Badger State from turning into Illinois or New York, where public unions essentially run the state government for their own benefit. According to the MacIver Institute, Act 10 has saved Wisconsin taxpayers $16.8 billion since it was passed in 2011, making public finances more manageable at every level of government.

Persons: Bill McGurn, Kyle Peterson, Allysia Finley, Dan Henninger, Paul Gigot, Mark Kelly Wisconsin, Scott Walker Organizations: Democratic, Gov, Badger, MacIver Institute Locations: Illinois, New York, Wisconsin

☆ Can Washington Still Do Anything?
▼ + stars: | 2023-12-04 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Bill McGurn, Kyle Peterson, Allysia Finley, Dan Henninger & Paul Gigot. Images: Getty Images/AP/ Composite: Mark KellyCan the United States government still act to solve problems and aid allies in the national interest? President Biden has asked Congress for $106 billion in supplemental spending, but he needs Republican votes to do it. Republicans want to do something to reduce the flood of migrants pouring across the border and burdening American cities, but they need Democratic votes to pass it. The necessity for compromise is obvious, but America’s polarized politics and Mr. Biden’s political weakness may tank the effort.

Persons: Bill McGurn, Kyle Peterson, Allysia Finley, Dan Henninger, Paul Gigot, Mark Kelly, Biden Organizations: United Locations: United States, Ukraine, Israel, U.S

☆ Elizabeth Warren Has an ObamaCare Epiphany
▼ + stars: | 2023-11-25 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyIt took 13 years, but Elizabeth Warren is at long last acknowledging that ObamaCare has increased healthcare prices and industry consolidation. Government price controls and profit caps have resulted in unintended consequences. The Massachusetts Senator and Republican Sen. Mike Braun of Indiana this week wrote a letter to the Health and Human Services Department inspector general complaining that the nation’s largest health insurers are dodging Obama Care’s medical loss ratio (MLR). The result, they say, is higher costs for patients.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Mark Kelly, Elizabeth Warren, ObamaCare, Republican Sen, Mike Braun, Obama Organizations: Getty, Zuma, Republican, Health, Human Services Department Locations: Massachusetts, Indiana

☆ Germany Faces the Green Fiscal Truth
▼ + stars: | 2023-11-24 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyThings have gone from bad to worse in Germany this week after a court ruling that’s forcing the government to do something truly shocking: level with voters about how much the net-zero energy transition will cost. Please pass the smelling salts. The country’s highest constitutional court ruled this month that one of the coalition government’s main gimmicks for funding green projects violates Germany’s version of a balanced-budged amendment. That amendment, known as the debt brake, caps the government’s fiscal deficit at 0.35% of gross domestic product per year except in emergencies (as defined by special legislation passed with a majority in the Bundestag).

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Kelly Organizations: Getty, Zuma, Bundestag Locations: Germany

☆ The Wilders Message From the Netherlands
▼ + stars: | 2023-11-24 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyDutch elections rarely stir much excitement abroad, but the voting in the Netherlands Wednesday marks an exception. The big winner was Geert Wilders , a veteran right-wing campaigner, and the freakout his victory has triggered across Europe is something to behold. His next nearest competitor, a Labor-Green coalition led by Frans Timmermans , won 25 seats. Politicians will now negotiate to form a governing coalition, a process that often takes months in the Netherlands’ highly fragmented electoral system, and Mr. Wilders may not emerge as prime minister.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Mark Kelly Dutch, Geert Wilders, Frans Timmermans, Wilders Organizations: Getty, Zuma, Freedom Party, Labor, Green Locations: Netherlands, Europe

☆ The IRS’s Act of $600 Mercy
▼ + stars: | 2023-11-22 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyWhile rarely a bearer of good news, the Internal Revenue Service on Tuesday postponed a $600 reporting threshold for payments received via online platforms such as Venmo, eBay and Airbnb . The IRS is doing a favor for itself and President Biden as much as it is for Americans. Readers may recall that the American Rescue Plan Act in March 2021 lowered the threshold for third parties reporting transactions on Form 1099-K to $600 annually from $20,000. Democrats’ goal was to nab Americans who allegedly dodge taxes by failing to report income earned from, say, driving for Uber or renting out second homes on Airbnb.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Mark Kelly, Biden, ’ Organizations: Getty, Zuma, Internal Revenue Service, eBay, IRS, American, nab Locations: Airbnb

☆ OpenAI’s Ineffective Altruists vs. Sam Altman
▼ + stars: | 2023-11-21 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyCorporate power struggles aren’t rare, and most companies survive them. But the OpenAI board’s sudden ouster of CEO Sam Altman last week looks increasingly like a misguided kamikaze run. Mr. Altman helped launch OpenAI in 2015 with the mission of responsibly developing artificial intelligence to benefit humanity. He has since become the technology’s public face, with media appearances and testimony to Congress.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Kelly, Sam Altman, Altman Organizations: Getty, Zuma Locations: Silicon

☆ Argentina Gambles on Milei
▼ + stars: | 2023-11-20 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyWhen there’s no real alternative, there’s no problem, as the saying goes. And that may be the logic of Argentina voters on Sunday who rejected the catastrophe of Peronist rule in favor of impulsive and charismatic outsider Javier Milei , who promised what for Argentina is the radical change of free-market economics. Mr. Milei, a Congressman and self-described libertarian, won the Presidency in a rout with 56% of the vote to 44%. He defeated Sergio Massa , the incumbent economic minister and architect of the policies that have produced runaway inflation, declining living standards, a government shedding foreign reserves, and the worst economic crisis in decades.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Mark Kelly, Javier Milei, Milei, Sergio Massa Organizations: Getty, Zuma, Sunday Locations: Argentina

☆ Major Mea Culpa From MLB
▼ + stars: | 2023-11-20 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyWill Rob Manfred apologize to the state of Georgia and its citizens? The commissioner of Major League Baseball announced Thursday that the annual All-Star Game will be held in Atlanta in 2025, two years after he moved the game from the city because of a controversial election law. Not the bulk of the law, the Election Integrity Act of 2021, which tightened up vote-by-mail and voter ID rules. Brian Kemp in 2018 but had refused in Donald Trump fashion to accept the result, also played the race card.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Mark Kelly Will Rob Manfred, What’s, Manfred, Biden, Jim Crow, ” Stacey Abrams, Brian Kemp, Donald Trump Organizations: Getty, Zuma, Major League Baseball, Democratic Party, Gov Locations: Georgia, Atlanta

☆ The Covid Vaccine Windfall Turns for Pfizer and Moderna
▼ + stars: | 2023-11-19 | by ( Allysia Finley | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyThe U.S. was in a fit of Covid panic during Thanksgiving week two years ago. Share prices in Pfizer and Moderna surged. By month’s end, Pfizer’s stock-market value had surpassed $300 billion, up 50% from the start of the pandemic. In 2022 Pfizer became the first pharmaceutical company to book more than $100 billion in annual sales owing to government purchases of its vaccines and antiviral pill.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Mark Kelly The Organizations: Getty, Zuma, Pfizer, Moderna Locations: Mark Kelly The U.S

☆ The Murder of a Great Educator
▼ + stars: | 2023-11-06 | by ( Robert Maranto | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from from Kyle Peterson, Mary O’Grady and Dan Henninger. Images: AP/Zuma Press/Reuters Composite: Mark KellyNov. 6 is the 50th anniversary of one of the most important assassinations in U.S. history. Fifty years ago, while leaving a school-board meeting, the nation’s first black big-city school superintendent, Oakland, Calif.’s, Marcus Foster , was ambushed and killed instantly by a volley of cyanide-filled bullets. Marcus Foster was one of America’s greatest educators. As a principal in his native Philadelphia, he turned around three inner-city public schools in the 1950s and ’60s.

Persons: Kyle Peterson, Mary O’Grady, Dan Henninger, Mark Kelly, Marcus Foster, Foster “, ”, ” John P, Spencer, “ Organizations: Zuma Press, Reuters, American School Reform Locations: Oakland, Calif, Philadelphia

☆ Is AI a Painkiller or a Vitamin?
▼ + stars: | 2023-11-05 | by ( Andy Kessler | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from from Kyle Peterson, Mary O’Grady and Dan Henninger. Images: AP/Zuma Press/Reuters Composite: Mark KellyLast week, the White House issued an executive order for command and control of artificial intelligence, strangely invoking the Defense Production Act. Added to the order were a mishmash of unhelpful notions like “advancing equity” and collective bargaining. It feels longer, with so many new players and capabilities beyond text, including open-source large language models that run on PCs and maybe on phones. Will generative AI take our jobs?

Persons: Kyle Peterson, Mary O’Grady, Dan Henninger, Mark Kelly, Biden, It’s, OpenAI’s ChatGPT Organizations: Zuma Press, Reuters, White House

☆ The Best and Worst Dressed Senators
▼ + stars: | 2023-09-28 | by ( Joseph Epstein | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Mene Ukueberuwa and Kyle Peterson. Images: AP/Getty Images/Zuma Press Composite: Mark KellyWhen I began teaching at Northwestern University half a century ago, I had to decide what to wear to work. Fifteen or so years before, the question would never have arisen. I would have worn a suit or sport jacket and pleated trousers, always a tie. That was before the 1960s, revolutionary in so many ways, including how professors could dress.

Persons: Kim Strassel, Mene Ukueberuwa, Kyle Peterson, Mark Kelly Organizations: Getty, Northwestern University

☆ A Salute to Rupert Murdoch
▼ + stars: | 2023-09-24 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kyle Peterson, Mary O’Grady and Dan Henninger. Images: AP/Reuters Composite: Mark KellyRupert Murdoch announced Thursday that he’s resigning as chairman of his two media companies after seven consequential and highly successful decades. Few entrepreneurs have had a bigger impact on public life across the world, and allow us on the occasion to say a word about his role at the Wall Street Journal.

Persons: Kyle Peterson, Mary O’Grady, Dan Henninger, Mark Kelly Rupert Murdoch, he’s Organizations: Reuters, Wall Street

☆ Indexing Is Still the Best Bet for Investors
▼ + stars: | 2023-09-14 | by ( Burton G. Malkiel | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: Zuma Press/EPA/Shutterstock Composite: Mark KellyActive portfolio managers claim that agile stock picking is the best way to invest. Many have lately argued that simple indexing is a bad strategy in today’s environment because the stock market is dangerously “narrow.” Seven stocks—Alphabet, Amazon , Apple , Meta , Microsoft , Nvidia and Tesla—constitute close to 20% of the S&P 500’s value and have been responsible for almost 90% of the index’s gains this year. Now these “Magnificent Seven” are beginning to falter. The simple index investor, the active managers warn, will soon be overly concentrated in a small number of stocks that are overpriced and have been hyped by the promise of artificial intelligence.

Persons: Kim Strassel, Kyle Peterson, Dan Henninger, Kelly Organizations: Zuma Press, Apple, Meta, Microsoft, Nvidia, Tesla

☆ There's a buy opportunity in this little-known software company, Needham says
▼ + stars: | 2023-09-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Needham analysts believe the recent pullback in software company Alight warrants a deeper look. The cloud-based business solution company has lost more than 18% in the current quarter, dragging shares down 9.5% for the year. The selloff came following its second-quarter earnings in August, during which the company reported a 36.3% year-over-year decline in business process as a service bookings. A follow-on offering also contributed to the selloff, according to analyst Kyle Peterson. "We believe the sell-off is overdone, with the shares trading at an EV/EBITDA multiple of 8x our FY24 estimate," he said.

Persons: Needham, Kyle Peterson, Peterson, Michael Bloom

☆ Makers vs. Taylor Swift Shakers
▼ + stars: | 2023-09-11 | by ( Andy Kessler | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: Zuma Press/EPA/Shutterstock Composite: Mark Kelly“I think Taylor Swift is great for the soft landing,” Columbia Business School economist Brett House declared in the New York Times . Not wanting a recession, I almost rushed out and bought $1,000 tickets and $25.99 friendship bracelets, but then I remembered that isn’t how the economy works. There are two sides of the economy: the productive side and the spend side. We have makers and, appropriate to Swifties, shakers.

Persons: Kim Strassel, Kyle Peterson, Dan Henninger, Mark Kelly “, Taylor Swift, Brett House Organizations: Zuma Press, Columbia Business School, New York Times

☆ Requiem for a Dumpster Full of Books
▼ + stars: | 2023-09-10 | by ( Lance Morrow | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Bill McGurn, Kate Bachelder Odell, and Kyle Peterson. Images: AP/Zuma Press Composite: Mark KellyThe dumpster behind the arts center in our upstate New York village is filled to the brim with discarded books—thousands of volumes that now, after a rainy August, have grown soggy and begun to dissolve, reverting squalidly to pulp. The mass grave is an unsettling sight to someone who was brought up in the worship of books.

Persons: Bill McGurn, Kate Bachelder Odell, Kyle Peterson, Mark Kelly Organizations: Zuma Locations: New York

☆ Jimmy Buffett Departs With the Summer
▼ + stars: | 2023-09-03 | by ( Bob Greene | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Bill McGurn, Kate Bachelder Odell, and Kyle Peterson. Images: AP/Zuma Press Composite: Mark KellyThere was always a sly grin, a sweetly sardonic message, in just about everything Jimmy Buffett sang or did. So if he had to die, of course it would be at the beginning of Labor Day weekend—summer’s end, the annual last breath of looseness and laughter.

Persons: Bill McGurn, Kate Bachelder Odell, Kyle Peterson, Mark Kelly, Jimmy Buffett Organizations: Zuma, Labor

☆ The Plan to Boost GOP Primary Turnout
▼ + stars: | 2023-08-21 | by ( Kyle Peterson | ) www.wsj.com time to read: 1 min

Prosecutors have put a political whirlpool in motion. Presidential candidates converged again this month on the Iowa State Fair to flip sizzling pork chops, nibble peculiar speared foods, and scout for undecided caucus-goers. Yet history suggests most Iowans, and even most Republicans, are more into the fair rides and butter sculptures than primary politics. In the November 2016 election, Iowa’s 2.4 million adults cast 1.6 million votes, 801,000 for Donald Trump. How many Iowans were counted in that year’s GOP caucus?

Persons: Donald Trump Organizations: Iowa, Fair, GOP

☆ China’s Deflation Danger Isn’t What You Think
▼ + stars: | 2023-08-11 | by ( Joseph C. Sternberg | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson, Kate Bachelder and Dan Henninger Images: Reuters/AP Composite: Mark KellyIf you’re American or European, your first thought on hearing this week that China is slipping into deflation probably was, “We should be so lucky.” Undeterred, investors now are fretting about price declines in China, although probably for the wrong reasons. As with anything involving China’s economy, what’s really happening is complex.

Persons: Kim Strassel, Kyle Peterson, Kate Bachelder, Dan Henninger, Mark Kelly, “, ” Organizations: AP Locations: China

☆ A Gambit to Duck Supreme Court Review
▼ + stars: | 2023-08-07 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson, Kate Bachelder and Dan Henninger Images: Reuters/AP Composite: Mark KellyAbuse of the U.S. legal system is rampant, and the Supreme Court has agreed to address an egregious example that has roiled and divided lower courts. But the plaintiff who started it all is now trying to dodge High Court review by claiming her case is moot. Let’s hope she and her lawyers don’t get away with it.

Persons: Kim Strassel, Kyle Peterson, Kate Bachelder, Dan Henninger, Kelly, don’t Organizations: AP

☆ Chris Christie Prosecutes the Political Case Against Trump
▼ + stars: | 2023-08-05 | by ( Kyle Peterson | ) www.wsj.com time to read: 1 min

Images: Jane Rosenberg/Reuters/AP Composite: Mark KellyChris Christie has a theory for how to defeat Donald Trump: Attack him. If that sounds like something out of “Elections for Dummies,” it remains mostly untested in the 2024 Republican contest, which Mr. Trump leads with 53% support, according to Friday’s RealClearPolitics average. “Nobody else in this race is willing to take him on,” Mr. Christie says. “They all are either playing for a position in a potential Trump cabinet, or they just don’t have the ability to do it. And there’s no way to beat this guy unless you beat him.”

Persons: Jack Smith's, Jane Rosenberg, Mark Kelly Chris Christie, Donald Trump, Trump, Mr, Christie, “, ” Organizations: U.S, Democratic, AP, Republican, Trump

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