Hank Johnson: “I thank the chairman for yielding. Madam Speaker, last week I was shocked to learn that in the middle of the great…”

“I thank the chairman for yielding. Madam Speaker, last week I was shocked to learn that in the middle of the great recession, which was caused by the deregulation, hands-off policies of the prior administration, and during this time when families across my district and across the Nation are struggling with rising unemployment and while health insurance companies have recently announced that last year was their best year on record as far as profits are concerned, $12 billion last year in profits for the insurance industry, and while that's the case, they are announcing plans to raise insurance premiums by 40 percent in some markets. During this time of hurt and pain and also making money by the insurance industry off these people who are hurting and in pain, we are considering today removing the antitrust exemption that insurance companies have enjoyed for over 60 years. And it's time for this protection and immunity from antitrust law and this anticompetitive behavior, it's time for it to come to an end.”