This weekend both House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid came out and publically called for ending the anti-trust exemption now granted the insurance industry in this country.
In 1945 the insurance industry was granted an exemption from being regulated by the Sherman Anti-Trust Act as its activities were not considered “commerce” and as such were not subject to anti-trust regulation.
The Supreme Court in 1945 affirmed the legal presumption that the insurance industry was not actually engaged in “commerce” but it also went on to ultimately conclude that the final arbiter in this matter was Congress and that the Court would follow the lead of Congress.
On March 9, 1945 the McCarran-Ferguson Act was passed whereby the insurance industry was to be regulated by the states. In effect, this left the insurance industry exempt from any anti-trust regulation.
Pelosi and Reid are signaling that Congress will soon end this exemption for the insurance industry.
Is it any wonder that the insurance industry has been able to carve up the entire country merely to guarantee the ever-increasing profits for the small cadre of large companies that remain and thus “milk” profits from a captive/hostage consumer base. I had no idea that the industry was operating with this exemption and I daresay very few people in general were aware of this. This should be the final straw in any attempts at “making nice” with the Republican opposition over this issue.
A “Pox” on the Republican House. That party needs to be rolled up and taken out with the trash!
I can sense that the Public Option will ultimately be a major component in any new health care legislation. The tide is turning and turning fiercely due to the robust efforts of progressives over the last two months.
I’ll mention it again – PLEASE CALL THE CONGRESSIONAL SWITCHBOARD – (202) 225-3121.
Don’t just call Senator Boxer and Senator Feinstein.
In addition, when you call the Congressional Switchboard ask for Senators Blanche Lincoln/AK, Ben Nelson/NE, Bill Nelson/FL, Mark Warner/VA, Kent Conrad/ND and Max Baucus/MT. These latter senators are the recalcitrant ones who need to be “brought on board” with the Public Option concept.