Head of Senate banking to retire

Monday Shelby put his own stamp on the Appropriations panel by ousting the six top Republican aides to former chairman and ranking member Sen. Tad Cochran, R-Miss.

Top Democratic candidates for Johnson's seat are his son, Brendan Johnson, 37, and former U.S. Rep. Stephanie Herseth Sandlin. Brendan Johnson has served as U.S. attorney for South Dakota since 2009. However, the appointment was controversial because concerns were raised about his father's involvement in the process, South Dakota officials have indicated.

Johnson, 66, has been in Congress since 1986. He was elected to the Senate in 1996, and re-elected twice.

Johnson suffered a brain hemorrhage at work on Dec. 13, 2006, and underwent emergency brain surgery, a medically induced coma and months of grueling physical, occupational and speech therapy before returning to the Senate nearly nine months later.

Joel Wood, senior vice president for government affairs for the Council of Insurance Agents and Brokers, said he was "saddened" by Sen. Johnson's retirement, and added that "we know his departure from the United States Senate is a loss for the people of South Dakota and the country."

Wood said he thinks Johnson "always focused on achieving accomplishments and getting things done, but that didn't mean that he feared contentious battles where politics may not have always been on his side." Wood said he is reminded particularly of the debate over the Optional Federal Insurance Charter, where several senators stayed mum out of fear of political retribution, but Johnson was a leader in the effort. "The industry has, of course, been a circular firing squad on OFC, but I do think that we would be well-served by more senators taking a principled approach to politically complex issues like Tim Johnson did," Wood said. "His leadership, intellect, and dedication will be missed."

See also:

• Proposed Basel III cap rules worry Congress
• Crapo likely the new minority head of Senate banking
• Consumer Group Attack OFC Concept