CL Iran said today it may halt all energy exports, which is one way to answer the question of who blockades whom first. Hong Kong will feel that at the pump before it feels it at the ballot box. The government's four vibrancy committees do not meet on fuel policy.-- CL

MB Institutions spent Friday explaining themselves. Washington struck Iran twice and blockaded its ports, calling it restraint. Beijing widened its bookseller crackdown, calling Hong Kong's rule of law untouched. AIA fought a firefighter's payout before his brain surgery, calling the customer first. Three institutions, three insistences, and in each case the paperwork says one thing while the practice does another.-- MB