The retirement announcement of Rep. Barney Frank no doubt had a lot of tongues wagging among insurance lobbyists on Capitol Hill and in carrier home offices around the country, with the focus on whether the financial-services reform law that bears his name will ultimately survive his departure—and if so, in what form.
The outspoken Massachusetts Democrat, who said he won't be running for re-election in 2012 after 32 years in the House of Representatives, made his mark when he chaired the House Financial Services Committee by leading the fight to pass the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Frank admitted he was worn down by the partisan bickering in Congress, particularly now that he's in the minority party in the House. Plus, he noted that his district has been redrawn, requiring a more vigorous and expensive campaign to hold his seat than he'd like to take on at the age of 71.
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