U.S. Senate Committee on Banking, Housing, and Urban Affairs

WASHINGTON, DC – Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement after the Bush Administration announced a plan to provide assistance to Citigroup:

“Our financial system is facing unprecedented challenges. More than a million Americans have lost their jobs this year alone, millions of homeowners are facing foreclosure, and hundreds of billions of dollars in retirement savings and investments have evaporated. Significant steps must be taken to stabilize our markets and get credit flowing again. In that context, I understand the actions taken by the Administration with regard to Citigroup. I look forward to reviewing the details of the plan.”