June 20, 2013

Politics

Nelson increased federal involvement in insurance, then got a job dealing with federal regulation of insurance

BY: TIMOTHY P. CARNEY JANUARY 22, 2013 | 3:01 PM | MODIFIED: JANUARY 22, 2013 AT 4:00 PM
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“I am honored to serve as CEO during such an important and exciting time in the regulatory community,” says the newest chief of the National Association Insurance Commissioners, Ben Nelson, who was a U.S. Senator until about three weeks ago.

What makes this “such an important and exciting time in the regulatory community” regarding insurance? Two laws mostly — the Affordable Care Act and the Dodd-Frank financial regulation.

Ben Nelson, as a Senator, provided crucial support for both of these bills.

So, Nelson, as a Senator, worked to make himself more valuable to these industries by increasing regulations and subsidies for them.

This is one reason moderates have the quickest track to K Street. Their economic vision is generally both pro-business and pro-government. Whatever effect this has on business and the economy, it makes lots of work for lobbyists.

Like Democratic moderate Evan Bayh before him, Nelson is taking two K Street jobs. In addition to the NAIC, Nelson will be a “senior partner” at public affairs firm Agenda.

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