Nearly three years ago TNEC ("Monopoly Committee") asked SEC to investigate insurance. To make the investigation (which they limited to legal reserve life insurance), SEC appointed Ernest J. Howe and Gerhard A. Gesell. For weeks their report has been ready, emitting occasional hisses like a buried bomb, waiting for TNEC Chairman Joseph O'Mahoney to make up his mind to release it. Last week he did so. The explosion was loud. But very few people got hurt.
The report was a 466-page going-over of insurance practices in general, the Big Five life companies (Metropolitan,...
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