I was reading this story about insurance reform (hey, it’s a living) in Texas and was struck by a remarkable quote.

The insurance industry essentially struck a deal with Texas politicians. In exchange for a temporary freeze on homeowners rates, the state will move to what’s called a file-and-use system at the end of next year. Under that system, insurers would be free to set rates with only minimal regulation.

So here’s how Beam Floyd, an industry lobbyist, sums up the deal: “The first phase of this is to grab hold of the marketplace. Once we have a hold of the marketplace, we will move toward a system that allows for more market competition.”

Beautifully ironic.