Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement after finalizing legislation to stabilize the domestic automobile industry:

“This legislation will provide solutions to stabilize our domestic automobile industry so that our economy does not suffer a devastating blow and so that millions of American workers do not find themselves out of a job.  It also takes tough measures to restructure and reform this industry.  This bill is a far cry from a blank check to the industry.  Rather, these companies will be required to pay back every dollar they borrow from hard-working American taxpayers.  Furthermore, the legislation requires these companies to make painful, fundamental changes if they are going to be competitive internationally and viable in the long-term.  And if they fail to make tough choices and reforms, they immediately have to repay their loan or line of credit, and face the full consequences of their failures.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement on data from the Bureau of Labor Statistics indicating that more than 500,000 American jobs disappeared last month, pushing the unemployment rate to its highest level in 15 years:

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement after President-Elect Obama announced several nominations for his economic team and outlined an economic recovery plan:

“I commend President-Elect Obama for announcing his economic team and for outlining a strong proposal for economic recovery.  These actions demonstrate that he is moving quickly and responsibly to address our nation’s economic crisis.  I look forward to considering these nominations swiftly and deliberately in the Banking Committee, and will work with my colleagues to ensure that these and other nominees are reviewed without delay.”

Senator Chris Dodd (D-CT) released the following statement in response to news reports that Connecticut exports have grown over the last year:

“This is welcome news during these tough economic times. Connecticut’s workers are among the best in the country and the products and services they produce continue to be in high demand around the world.  I will continue to fight to ensure that our business community has the resources and tools it needs to continue to grow and prosper in this difficult economy.”

As recent news reports show that foreclosures in Connecticut have risen 134% in the month of October, Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, held an oversight hearing today on the implementation of the Emergency Economic Stabilization Act, focusing on foreclosure prevention efforts, ensuring that lenders are using the federal funds for lending, and executive compensation policies.

"I appreciate the Treasury Department’s willingness to adjust to the current situation in our financial markets.  I am also gratified that they listened to Congress when we insisted on including alternative strategies, such as liquidity injections, in the financial rescue legislation.  It is alarming to imagine how limited the Treasury’s options would be if Congress had not made substantial changes to their three page proposal." 

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs and a senior member of both the Committees on Foreign Relations and Health, Education, Labor and Pensions, held a press conference today where he announced that he will continue to serve as the Chairman of the Banking Committee and laid out what his priorities will be for Connecticut and the Committee.

Senator Chris Dodd met with local Hispanic business owners and community leaders today.  Dodd visited businesses and non-profit organizations along Park Street and discussed how current economic conditions are affecting the Hispanic community in Hartford.

10/17/08: Dodd Discusses the State of the Economy in Norwich

October 17, 2008

Senator Chris Dodd, the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, spoke to the Chamber of Commerce of Eastern Connecticut this morning about the current state of the economy, the Hope for Homeowners program and his efforts to address the financial crisis in Washington, D.C.

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( published in: Banking | Business | Economic Security for Individuals and Working Families | Media Center | New London County | Photos and Events | Small Business | Southeast Connecticut | The Economy )

10/15/08: Statement of Chairman Dodd on Reports from Federal Reserve

October 15, 2005

As part of the recently-enacted Emergency Economic Stabilization Act, Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, successfully worked to require the Federal Reserve to report to the Congress when it undertakes loans made under unusual and exigent circumstances. Dodd released the following statement after receiving the first two reports from the Federal Reserve:

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( published in: Banking | Business | Economic Security for Individuals and Working Families | Housing | Media Center | Press Releases and Statements | Securities | Small Business | The Economy )

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