Gov. Andy Cuomo made it abundantly clear that any regulated financial and insurance industry that wanted to function in New York, which is code for Wall Street, would do well to flex its muscle by snubbing the National Rifle Association.
This is about as uncontroversial as an unprincipled dictate could be in New York City, where guns are neither loved nor appreciated by most voters. It’s not a gun haven, and most New Yorkers have a serious hate on guns.
But financial and insurance institutions care nothing about guns. They care about money, and they are regulated up the ying yang. And regulators can make their ability to function, to avoid administrative demands, monstrous delays in approvals, hearings, litigation, fines, a nightmare. In the scheme of making money, the NRA is just one player, and while not an insignificant player, not a big enough player to go to the mattresses over. And so Andy’s gambit played out as intended. Continue reading
