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Pelosi, Senior Democrats' Remarks at News Conference on Repealing Health Insurance Industry Anti-Trust Exemption
Date:2/23/2010

Chairwoman Slaughter. Thank you, Madam Speaker. It is because of you and the Majority Leader that we have reached this point, and it is a very important point for us to have reached. It is totally appropriate that the Congress of the United States lift this exemption because they created it. In 1945, both the Senate and the House passed legislation following a Supreme Court ruling that anti-trust should indeed govern the insurance industry. Each house passed legislation that gave a three-year transition period at which point they would be covered by anti-trust. By the time the bill got to conference and came out of the conference, the exemption had been made permanent, which did not in any way follow what each house had voted but it was ratified then by each house. It was a bad day as far as I am concerned because I know of no industry in the United States which should be exempt from anti-trust, which and their sole purpose is to protect consumers and heaven knows when it comes to insurance we need it.

I am here today to introduce somebody that I have grown so fond of, Wendell Potter. He and I are from the same part of the country, so I was not surprised that Wendell would stand up to insurance industries. All of us can tell anecdotal stories and tell about what people would say to us, but only Wendell Potter who was on the inside—he was the executive at an insurance company—could really give us the true story of what was going on there and he did. He has been so generous with his time, with his expertise, with his friendship and he got started in this because he knew that chicanery was g
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SOURCE Office of the Speaker of the House
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