RUTHFULLY YOURS

Iranian naval vessels approached to within 1,500 yards of the U.S. aircraft carrier USS Truman and fired several unguided rockets, according to sources at the Pentagon.

The official characterized the incident as “certainly unnecessarily provocative.” We could add “deliberately so.”

The Hill:

At around 10:36 a.m., several Iranian navy vessels approached the Truman, as well as other coalition and merchant vessels, the official said.

“They were observed quickly approaching their location as they transited the Strait of Hormuz into the Arabian Gulf,” said the official.

At 10:45 a.m., Iran warned of a “previously unannounced live-fire exercise over maritime radio and requested for nearby vessels to remain clear,” the official added.

Approximately 40 minutes later, the exercise warnings were repeated, and the ships started to launch the rockets, the official said.

It is unclear how many rockets were fired, the official said; however, they were fired in a direction away from the passing commercial and coalition ships. The ships departed after firing the rockets.

The Truman is the first U.S. aircraft carrier to enter the Gulf, after the USS Theodore Roosevelt left in October, leaving a U.S. carrier gap of several months. The U.S. has maintained a carrier presence in the Gulf for decades, even keeping two carriers there at the same time to support the Iraq and Afghanistan Wars.

When the Roosevelt left the Gulf in early October, Iran conducted a ballistic missile test.

America was born a land of speculators and opportunists. People have constantly moved across its great land mass in pursuit of the better life. But there’s a catch. A country of drifters and dreamers has provided rich pickings for grifters and con men. Not surprisingly, they crop up in countless American novels, plays and films, from Melville’s 1857 “The Confidence-Man” to “The Sting” (1973), a movie that was set in the 1930s, toward the end of what T.D. Thornton calls the “golden age of the con artist.” With “My Adventures With Your Money,” Mr. Thornton offers up a hugely entertaining biography of one such “artist.”

In an essay called “Diddling,” Edgar Allan Poe described confidence man as a “compound of which the ingredients are minuteness, interest, perseverance, ingenuity, audacity, nonchalance, originality, impertinence, and grin.” George Graham Rice, the anti-hero of Mr. Thornton’s book, had an abundance of “grin,” or what a later age would call chutzpah. A 1934 profile of him by the journalist A.J. Liebling described him as “contagiously optimistic,” with a “phosphorescent smile.” The title of Mr. Thorton’s book-length profile is taken from Rice’s own 1913 memoir, originally dedicated in a memorable way: “To the American Damphool Speculator, surnamed the American Sucker, otherwise described herein as The Thinker Who Thinks He Knows But Doesn’t—greetings! This book is for you! Read as you run, and may you run as you read.”
My Adventures With Your Money

By T.D. Thornton
St. Martin’s, 320 pages, $27.99

Jacob Herzig was born in 1870, the son of well-to-do Jewish immigrants in New York’s Lower East Side. As a young man, he stole money from the family’s furrier business. Sent to a reformatory, he befriended an elderly con, Willie Graham Rice, whose name he appropriated. For the next 40 years, his life was a whir of scams, fortunes quickly made and lost, and run-ins with the authorities.

Mr. Lehman was secretary of the Navy in the Reagan administration and a member of the 9/11 Commission.

The U.S. Navy, with 280 ships, is now far too small to effectively protect this country’s vital interests in the Pacific, Atlantic, Mediterranean, Persian Gulf and Arabian Sea. Yet on Dec. 14 Defense Secretary Ash Carter ordered the Navy to cut additional ships it was planning to build and instead to buy more missiles and airplanes.

The shortage of missiles, torpedoes and spare parts that concerns Mr. Carter is real. But by not rebuilding the fleet, the Obama administration is repeating the blunders of the 1970s—sending sailors and their too few ships on much longer deployments, now trending toward eight and 10 months instead of six. In response, the most experienced sailors and their families, as in the ’70s, are starting to leave the Navy, worsening the other corrosive result of longer deployments: ships and airplanes that break down from a lack of skilled maintenance. The Persian Gulf was recently left without a carrier for two months.

Is the solution to the problem simply a significant increase in the defense budget? No. The source of the problem is not primarily the amount of money, but how that money is spent, or misspent, by the military bureaucracy.

The Obama administration is preparing to impose its first financial sanctions on Iran since it forged a landmark nuclear agreement in July, presenting a major test for whether Tehran will stay committed to the deal.

The planned action by the Treasury Department, U.S. officials told The Wall Street Journal, is directed at nearly a dozen companies and individuals in Iran, Hong Kong and the United Arab Emirates for their alleged role in developing Iran’s ballistic-missile program.

Iranian officials have warned the White House in recent months that any such financial penalties would be viewed by Supreme Leader Ayatollah Ali Khamenei as a violation of the nuclear accord.

Senior U.S. officials have said the Treasury retained a right under the agreement to blacklist Iranian entities allegedly involved in missile development, as well as those that support international terrorism and human-rights abuses. Officials view those activities as separate from the nuclear deal.