The bill contained just 83 words, one of the shortest ever to be dropped into the House hopper. It said simply that the Sherman and Clayton Antitrust Acts, as amended, shall not be construed to "apply to the business of insurance." Thus, just 17 days after the U.S. Supreme Court broke a 75-year-old precedent in holding that insurance is subject to the antitrust laws (TIME, June 12), the House moved last week to nullify the ruling.
Missouri's Representative Walter Ploeser, an insurance salesman for 20 years, told the House: "The insurance business is in mental chaos...
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