The Strategy Behind Israel’s Killing of Two More Iranian Leaders

Summary

Podcast Summary: WSJ What’s News
Episode: The Strategy Behind Israel’s Killing of Two More Iranian Leaders
Date: March 17, 2026
Host: Alex Osola, The Wall Street Journal

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Episode Overview

This episode examines Israel’s targeted killings of two top Iranian leaders, the strategic purpose behind these actions, and the wider ramifications for regime dynamics in Iran and US policy. Additional coverage includes the resignation of a senior US counterterrorism official over the war, an escalating debate over voter ID legislation in the Senate, developments in Illinois primary races, Middle East-driven oil price hikes, shifts in US retail space, and the fintech world’s fierce loyalty to the Bloomberg Terminal over new AI competitors.

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Key Segments & Discussion Points

1. Israel’s Strategy in Iran: Targeted Killings

[00:26–05:12]

• Background: Israel has assassinated Ali Larijani (Iranian Security Chief) and Golum Reza Soleimani (head of the Basij militia)—the largest blow to Iran’s leadership since the war began.
  • "Israel continues its strategy of taking out top enemy leadership with the killing of Iranian security chief Ali Larajani." – Alex Osola [00:26]
• WSJ Reporter Anat Peled explains:
  • Larijani’s dual reputation: both a “violent crackdown” enforcer and, paradoxically, a “pragmatic” moderate open to West.
    • "He had a very prominent role in the regime. He oversaw the violent crackdown of anti government protests... he also had a reputation... of being a bit pragmatic, more moderate compared to other people in the regime." – Anat Peled [02:59]
  • Israel has replicated this leadership-targeting strategy elsewhere (Gaza with Hamas, Lebanon with Hezbollah).
  • Effectiveness Questioned:
    • "While this is a strategic military achievement in the long term, the problem is these groups are still standing... It's just not clear that it's going to move the needle in terms of regime change." – Anat Peled [03:33]
  • Assassinations may create paranoia and complicate leadership communication, possibly degrading the regime—but also risk ushering in even harder-line successors.
    • "It actually has the risk of someone even more radical or more hardline could step in." – Anat Peled [04:18]
• Alignment with U.S. War Goals:
  • Israel and the U.S. initially emphasized regime change but have shifted to the more limited goal of “degrading Iran’s military threat.”
    • "Both Israel and the US... have tempered expectations... and have focused more on degrading Iran's military threat." – Anat Peled [04:38]
  • Notable Quote:
    • "The exit strategy of this war is not clear." – Anat Peled [05:03]

2. Political Fallout in the U.S.

[00:45–01:59]

• Resignation of US Counterterrorism Chief Joe Kent:
  • Kent resigned over his objections to the US war with Iran, stating, "Iran posed no imminent threat to our nation... the US had started the war because of pressure from Israel." [00:45]
  • President Trump dismissed Kent’s view:
    • "It's a good thing that he's out because he said that Iran was not a threat. Iran was a threat. Every country realized what a threat Iran was." – President Trump [01:43]

3. Iran’s Domestic Crackdown

[01:59–02:59]

• Following the strikes, Iran’s rulers have cracked down on dissent with armed patrols and widespread arrests.
  • "Security forces are using fear to keep a tight grip on the streets... At least 500 people have been arrested since the start of the war." – Alex Osola [01:59]

4. Pakistan-Afghanistan Tensions Escalate

[05:19–06:03]

• Pakistani airstrikes hit targets in Afghanistan, with disputed accounts over civilian casualties.

5. US Senate Debates Voter ID Legislation

[06:37–08:59]

• The Save America Act: Would require in-person documentation of citizenship to register to vote.
  • Strong Republican support, Democrats argue it would disenfranchise millions, especially those without easy access to documents.
    • "Democrats have estimated that it's going to lead to millions of Americans not voting or finding it harder to vote." – Onvi Bhutani [07:25]
  • Bill includes criminal penalties for officials registering ineligible voters.
• Procedural vote passed; extended debate and amendment votes to follow.

6. Illinois Primaries: Political Stakes

[09:07–09:55]

• Illinois Governor J.B. Pritzker seeks a third term and boosts his Lieutenant Governor’s Senate bid, angering members of the Congressional Black Caucus and intensifying Democratic infighting.

7. Market & Economic Updates

[09:55–12:36]

• Oil Prices: Surge past $103/barrel due to Middle East instability.
• Airlines: Delta, American, JetBlue, and Frontier all report optimistic revenue expectations.
• Stocks: NASDAQ up; ExxonMobil performs strongly.
• Arizona Sues Kalshi: State alleges unlicensed gambling.
• US Housing: Uptick in homes under contract; future sensitive to interest rates.
• American Retail Space: Shift—with more “spas and gyms than stores selling actual stuff”; attributed to services boom and e-commerce.
• Amazon: Expands one-hour/three-hour delivery (with fees).

8. Fintech & Bloomberg Terminal Debate

[12:36–13:36]

• Bloomberg Terminal vs AI (Perplexity):
  • Viral claims about new AI alternatives threaten Bloomberg’s cultural dominance.
  • Traders push back: "You can pry my terminal from my cold, dead hands." [12:33]
  • WSJ’s Isabel Busquet details its status-symbol allure:
    • "Some people say they spend more time on their terminal than they do with their spouse... It's a status symbol and a rite of passage... It's also the real time information. They rely on that for everything, for their jobs." – Isabel Busquet [12:36]

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Memorable Quotes & Moments

• On Targeted Killing Strategy:
  "Leadership... planned for war in which many would be killed and had prearranged replacements ready to step in." – Anat Peled [03:47]

• On the Difficulty of Regime Change:
  "It could also maybe complicate communications as people become more nervous to communicate... It's just not clear that it's going to move the needle in terms of regime change." – Anat Peled [03:58, 04:26]

• On the Emotional Attachment to Bloomberg Terminal:
  "I know of at least one person who had a wedding cake designed in the shape of a Bloomberg terminal." – Isabel Busquet [12:55]

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Key Timestamps

• 00:26 — Israel strikes Iranian leadership, US official resigns
• 02:59 — Profile and significance of Ali Larijani, with Anat Peled
• 03:33 — Rationale and limits of Israel's strategy
• 04:38 — US & Israel war goals divergence
• 06:37 — Senate debate on Save America Act
• 07:25 — Voter ID impact described
• 09:07 — Illinois primary preview
• 09:55 — Market, energy, and airline updates
• 12:36 — Fintech / Bloomberg Terminal debate
• 13:36 — Episode wrap-up

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This episode provides a concise, incisive overview of how targeted killings fit into Israel and the US's evolving war strategies, the political consequences in Iran and America, and the broader currents shaping US politics, economics, and Wall Street culture.

Transcript

[A]

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[B]

In the latest on Iran, a top US Official resigns over the war while Israel continues its strategy of taking out top enemy leadership with the killing of Iranian security chief Ali Larajani.

[C]

While this is a strategic military achievement, it's just not clear that it's going to move the needle in terms of regime change.

[B]

Plus, the Senate kicks off debate on a contentious voter ID bill pushed by President Trump and finance bros say hands off my Bloomberg terminal, even when AI claims to do the same thing for less. It's Tuesday, March 17th. I'm Alex Osolleff for the Wall Street Journal. This is the PM Edition. What's news, the top headlines and business stories that move the world today. The top US Counterterrorism official said today that he had resigned over his concerns about the war with Iran. Joe Kent, director of the National Counterterrorism center, posted a screenshot of his resignation letter, adding that he could not support the war and that, quote, iran posed no imminent threat to our nation. He also said that the US had started the war because of pressure from Israel. It's the first significant departure from the Trump administration due to the conflict. When asked about it by reporters in the Oval Office today, President Trump said that Kent's assessment was wrong.

[D]

When I read his statement, I realized that it's a good thing that he's out because he said that Iran was not a threat. Iran was a threat. Every country realized what a threat Iran was. The question is whether or not they wanted to do something about it.

[B]

Meanwhile, in Iran, the country's rulers have unleashed a new crackdown against domestic dissent. In an effort to hold back the risk of an uprising, security forces are using fear to keep a tight grip on the streets. Armed men ride around on motorcycles, brandishing their weapons to intimidate people and have set up checkpoints where they routinely stop and search cars. At least 500 people have been arrested since the start of the war. And on the topic of the country's leadership, on this morning's show, we mentioned that Israel announced today that it has killed Iranian security chief chief Ali Larijani. Israel also said that in a separate strike, it killed Golum Reza Soleimani, head of the country's repressive Basij militia. Those two deaths are the biggest hit to the country's leadership since Supreme Leader Ali Khamenei at the beginning of the war. It's also the latest example of Israel's strategy of killing the leaders of enemy organizations in an effort to weaken them. WSJ reporter Anat Peled joins me now from Tel Aviv. Anat, who was larajani? What was his reputation as a leader?

[C]

Yeah, so Larijani was the secretary of the Supreme National Security Council, and he had a very prominent role in the regime. He oversaw the violent crackdown of anti government protests in January that left thousands dead. Interestingly, he also had a reputation, diplomats talked about this, of being also a bit pragmatic, more moderate compared to, you know, other people in the regime and someone that could talk to the West.

[B]

So just thinking about Israel's strategy here. How does taking out the leadership advance Israel's war goals? Yeah.

[C]

So Israel has gone about this strategy in several other arenas. We've seen this in Gaza with Hamas. We've seen this in Lebanon with the Hezbollah militant group. Those are both proxies or allies of Iran. While this is a strategic military achievement in the long term, the problem is these groups are still standing. Hezbollah is shooting at Israel still, it joined the war with Iran. Iran's leadership planned for war in which many would be killed and had prearranged replacements ready to step in. Analysts do tell us that it could increase the paranoia of leaders who know they are walking around with a target on their back because Israel has said they will continue to go after leadership, political and military leadership. It could also maybe complicate communications as people become more nervous to communicate. It could have results of degrading the regime and making decision making harder. It's just not clear that it's going to move the needle in terms of regime change. And it actually has the risk of someone even more radical or more hardline could step in.

[B]

And how does this align with the U.S. s war goals as we understand them?

[C]

Both Israel and the US they opened the war with speeches evoking regime change and talking about the Iranian people taking to the streets to topple the regime. What we've seen since then is that both Israel and the US have tempered expectations about that publicly and have focused more on degrading Iran's military threat. Prime Minister Ben Benjamin Netanyahu of Israel has still called on Iranians to rise up, but the assessment is the conditions are not there yet and the exit strategy of this war is not clear.

[B]

That was WSJ reporter Anat Pelid. Thanks, Anat.

[C]

Thanks for having me.

[B]

And in other international news, Pakistan launched airstrikes against Afghanistan overnight. The Taliban government and an international aid group said that the strikes hit a drug rehab center and other locations, killing hundreds of civilians. Pakistan has denied hitting the clinic, saying that it carried out precision strikes that destroyed militant support infrastructure and ammunition storage facilities. There has long been a conflict between the two countries. In late February, Pakistan said it was in a, quote, open war with Afghanistan. Coming up, today's market moves and why having President Trump's backing may not be enough to make a voter ID bill into law. That's after the break.

[E]

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[B]

Today, the Senate is kicking off debate on new voter eligibility legislation that President Trump has pushed hard for. The Save America act would require Americans registering to vote to provide in person to an election official documents that give evidence of their citizenship, such as a birth certificate or U.S. passport. The legislation has already passed the House, but it's unlikely to pass in the Senate because Democrats oppose it. Journal reporter Onvi Bhutani joins me now from the Senate Press Gallery. Onvi, what's in the Save America act and why has it been so contentious?

[F]

This bill is contentious primarily because widespread voter fraud as alleged by President Trump, has largely been disputed. A lot of studies have found non citizen voting to be rare, and there are millions of Americans that lack the necessary documentation to prove their citizenship. So Democrats have estimated that it's going to lead to millions of Americans not voting or finding it harder to vote. The legislation also includes creating criminal liability for any election officials that register voters that are non citizens.

[B]

As I mentioned, this bill is unlikely to pass because Democrats oppose it. Republicans are bringing it to the floor anyway. Why are they doing that?

[F]

Since before 2020, President Trump has talked about voter fraud and has wanted to crack down on that, and this legislation is his way to do that. Republican lawmakers have definitely been falling in line with President Trump and encouraging this legislation. There are some Republicans who are still wary of the Save America act. One good example is Senator Lisa Murkowski of Alaska. There are a lot of rural voters who have to sometimes take a plane to go into the county office to vote. And those folks would definitely face barriers if they had to first go in to prove their citizenship and then go in to vote.

[B]

So today's vote was procedural. Now that it's passed, what happens next?

[F]

That will kick off debate on the SAVE act, which could be a week or two weeks or even longer. And that's when individual senators will have the opportunity to also bring amendments to this legislation. And each amendment will be voted on individually, after which we'll see a vote on the final SAVE Act.

[B]

Sounds like we'll be speaking to you again soon. But for now, thank you so much. That was WSJ reporter Onvi Bhutani.

[F]

Thanks for having me.

[B]

And in Illinois today, there are primary elections for the governor, House and Senate races. J.B. pritzker, a Democrat, is running for a third term as governor, but he's also considered a possible candidate for the 2028 presidential election. And his political brand is at stake today. That's because he spent millions to boost Juliana Stratton, his lieutenant governor, who is now running for Senate. His involvement has especially angered the Congressional Black Caucus, which is backing Representative Robin Kelly in that Senate race. Both Stratton and Kelly are black. The Senate candidate who's raised the most money, meanwhile, is current Representative Raja Krishnamoorthy. Oil prices rose today after more attacks on energy infrastructure in the Middle East. Futures for Brent crude, the international benchmark, rose about 3% to more than $103 a barrel. But higher prices haven't yet taken a toll on people booking flights. Today, Delta and American Airlines raised their revenue outlooks, while JetBlue and Frontier Airlines lifted their unit revenue expectations. Delta said that there was healthy demand for corporate and leisure travel, both internationally and domestically. That demands helping counter the pain of higher fuel costs. Delta shares closed up 6.6%. Stocks overall ended the day higher. The NASDAQ led gains and finished up half a percent. Energy shares were among the strongest performers, with ExxonMobil up 1%. In other corporate news, Arizona has sued the parent companies of prediction platform Kalshi for operating what the state said was an illegal gambling business without a license. Kalshi called the charges flawed. The national association of Realtors says that the number of homes under contract in the US rose 1.8% in February from the month before. The group's chief economist said this was likely due to greater affordability, but could be reversed if mortgage rates rise. The war in Iran has raised worries about inflation that could keep rates higher for longer. The US now has more spas and gyms than stores selling actual stuff. That's according to data on retail leasing from the firm Costar. Last year, service based tenants businesses like salons, spas and fitness studios leased more space than retailers did for the first time ever. That suggests that Americans are spending more on services while retailers need less physical space to sell goods because of E commerce. And speaking of e commerce, Amazon said today that it's expanding its one hour and three hour delivery services across the US on offer will be household essentials, health and beauty items and over the counter medications. The quick delivery comes with extra fees. And finally, people on social media over the past few days have been duking it out over a piece of business software. A series of viral posts claim that AI has created a worthy alternative to the Bloomberg terminal, a computer system ubiquitous among professional investors. A new AI tool from startup Perplexity promises to do much of what the terminal does for $2,400 a year instead of the annual $30,000 that the terminal costs on X. Some users breathlessly said that Perplexity's new tool is the future and that, quote, bloomberg is cooked. But traders and investment research teams say, you can pry my terminal from my cold, dead hands. WSJ tech reporter Isabel Busquet says Wall Street's obsession goes beyond the financial information the terminal offers.

[G]

Wall street traders are obsessed with their terminals. This is a fascinating relationship. Some people say they spend more time on their terminal than they do with their spouse. Some people met their spouses on the instant chat feature on the terminal. Everyone in the financial services industry is on it and you can message them at any time. I know of at least one person who had a wedding cake designed in the shape of a Bloomberg terminal. Another trader told me that using his terminal is like crack. These terminals are expensive, so when you get the chance to have one, it's a status symbol and it's a rite of passage. And these people spend hours and hours and hours on it every single day. It's also the real time information. They rely on that for everything, for their jobs. So it's an important relationship. And I think the idea that AI could come in and displace it was sad and threatening to them.

[B]

And that's what's news for this Tuesday afternoon. Today's show is produced by Pierre Vienna May with supervising producer Tali Arbel. I'm Alex Osola for the Wall Street Journal. We'll be back with a new show tomorrow morning. Thanks for listening.

[H]

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