Minority Press Releases

September 25, 2008

DODD REACTS TO PRESIDENT'S ADDRESS

WASHINGTON, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement after the President's address tonight: "It is regrettable that 40 days before an election, it has taken the worst economic crisis in our nation since the Great Depression to finally get the attention of the President. Until this point, the cries for help from millions of Americans being forced from their homes and struggling to make ends meet fell… Continue Reading


September 22, 2008

DODD AVAILABILITY TODAY

WASHINGTON - Senator Chris Dodd (D-CT) will hold a meeting with some of his Democratic and Republican Banking Committee colleagues today to discuss the legislation that he has drafted based on the Treasury Department's proposal as received by Congress over the weekend. The meeting will occur at 3:15 p.m. TODAY in Russell Senate Office Building Room 448. Cameras are invited to spray the room at the top, and Dodd will be available to speak with reporters immediately following the meeting. -3… Continue Reading


September 22, 2008

CHAIRMAN DODD: WORKING TO STABILIZE ECONOMY

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today released the following statement after receiving a proposal from the Administration on how to address our economic crisis: "At this critical moment in time, we are working as expeditiously as we can to help stabilize the economy in a manner that protects taxpayers and promotes homeownership. I have spoken with Secretary Paulson, and am working with my Democratic and Republ… Continue Reading


September 19, 2008

DODD STATEMENT ON MEETING WITH ADMINISTRATION, CONGRESSIONAL LEADERS

"This evening's meeting is a testament to the extremely serious challenges facing our economy. Tonight, the Administration put forward some constructive ideas, and I look forward to receiving more details. Bad lending practices and lax oversight are the root cause of this crisis. As such, a comprehensive and constructive proposal must include relief for millions of American homeowners facing foreclosure. I am committed to working with the Administration and my Democratic and Republican colleague… Continue Reading


September 17, 2008

DODD STATEMENT ON AIG

"I appreciate Chairman Bernanke and Secretary Paulson informing me of their decision regarding AIG. This decision is a clear sign that the financial crisis - which is a direct consequence of this Administration's neglect and wayward economic policies - continues to deepen. Actions that were inconceivable just days ago are now occurring in a manner and at a pace that is certainly cause for concern. The Banking Committee will continue to play a constructive role in resolving this crisis. In or… Continue Reading


September 15, 2008

DODD STATEMENT ON MARKET TURMOIL

"The economic crisis facing our country is deepening, as we saw over the weekend with the failure of Lehman Brothers and the sale of Merrill Lynch. To fully understand the implications of these events, we need to learn more about the Administration's involvement, and its plans going forward. At the Treasury Secretary's request, I have postponed tomorrow's hearing. "Millions of Americans are struggling to make ends meet as unemployment rises, home values plummet, and everyday necessities like … Continue Reading


September 12, 2008

DODD: UNFAIR LENDING PRACTICES FORM DISTURBING TREND

Washington, DC - Today, Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement on Home Mortgage Disclosure Act data released by the Federal Reserve, which showed that denial rate differences based on race widened from 2006 to 2007: "This data is further proof of a disturbing and continuing trend of unfair lending practices in our country. At a time when turmoil in the mortgage markets caused by unfair and unsound lendin… Continue Reading


September 8, 2008

DODD STATEMENT ON ADMINISTRATION'S PLAN FOR FANNIE MAE & FREDDIE MAC

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement: "There are still many unanswered questions about the Administration's plan, and Americans deserve to know if this unprecedented proposal will help keep mortgages affordable, stabilize the markets, and protect taxpayer interests. Furthermore, we need to understand the circumstances which led the Administration to change course. Just weeks ag… Continue Reading


September 8, 2008

DODD STATEMENT ON PLAN FOR GOVERNMENT-SPONSORED ENTERPRISES

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement: "I spoke with Secretary Paulson yesterday and was advised of the Administration's intent to use its new authority to act in connection with the GSEs. Any government action must help to strengthen our economy, which is suffering a crisis brought on by the Administration's failure to stop predatory lending and promote sound economic growth. Th… Continue Reading


September 8, 2008

DODD STATEMENT ON UNEMPLOYMENT RATE

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement on the increase in the unemployment rate to 6.1%, the highest it has been in five years: "Today's data is cause for renewed concern about the state of our economy. More and more Americans are losing their jobs while the costs of fuel, food, and other everyday necessities continue to rise. Congress put forth a significant effort to strengthen… Continue Reading


September 8, 2008

DODD ANNOUNCES HEARING ON HOW PUBLIC TRANSPORTATION MAY HELP ACHIEVE ENERGY INDEPENDENCE

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, announced that he will hold a hearing next Tuesday entitled "Strengthening the Ability of Public Transportation to Reduce Our Dependence on Foreign Oil." After months of high gas prices, a record number of Americans are using public transportation to travel to and from their jobs, school, and other responsibilities. The hearing will examine the effects of rising energy costs on pu… Continue Reading


August 26, 2008

STATEMENT FROM CHAIRMAN DODD ON MANAGED FUNDS ASSOCIATION'S HIRING OF ROGER HOLLINGSWORTH

"Roger has served me, the Committee, and our country exceptionally well during a period of unprecedented challenges to the financial markets and the economy. He has provided invaluable assistance as the Committee has successfully addressed those challenges, and his efforts help leave the Committee well-positioned to continue to address those challenges in the coming months and into next year. I have no doubt that he will bring to his new position the same judgment, intelligence, and dedication t… Continue Reading


July 31, 2008

DODD URGES INVESTMENT IN NATION'S INFRASTRUCTURE

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today spoke on the Senate floor on the state of our nation's infrastructure and the importance of long-term investment in our roads, bridges, mass transit, drinking water, and wastewater removal systems. Dodd's speech comes on the eve of the one-year anniversary of the tragic I-35 bridge collapse in Minneapolis. Tomorrow also marks one year since Dodd introduced the National Infra… Continue Reading


July 30, 2008

PRESIDENT SIGNS DODD'S LEGISLATION TO HELP HOMEOWNERS, STRENGTHEN ECONOMY

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement after President Bush signed into law the Housing and Economic Recovery Act, which Dodd authored along with Senator Richard Shelby (R-AL): "Today marks an important change in the federal government's response to the economic strain being felt by millions of Americans across the country and our financial markets. This is the most sweeping housin… Continue Reading


July 29, 2008

TODAY: DODD CONVENES HOPE FOR HOMEOWNERS BOARD

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today will convene a meeting with members of the Oversight Board of HOPE for Homeowners to ensure the timely implementation and operation of the program. HOPE for Homeowners, an initiative established by the Housing and Economic Recovery Act which passed the Senate on Saturday and which the President has said he will sign into law, is expected to help prevent foreclosure for hundr… Continue Reading


July 28, 2008

TOMORROW: DODD TO HOLD HEARING ON THE STATE OF THE NATION?S INSURANCE INDUSTRY

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, will hold a hearing tomorrow to examine the state of our nation's insurance industry. The Committee will hear from industry and consumer experts on the current state of insurance regulation and oversight. Witnesses are also expected to testify on ways to promote competition and efficiency in the U.S. insurance marketplace, and how to enhance consumer protection. WHO: … Continue Reading


July 28, 2008

MAJOR LEGISLATION TO STRENGTHEN ECONOMY AND HELP HOMEOWNERS NATIONWIDE PASSES SENATE 72-13

WASHINGTON, DC - Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, today announced that the Senate passed the Housing and Economic Recovery Act by a vote of 72-13. This legislation is expected to help hundreds of thousands of Americans who are struggling to keep their homes, as well as countless homeowners and communities who are already experiencing the devastating effects of foreclosure. The legisl… Continue Reading


July 24, 2008

DODD AND SHELBY ANNOUNCE AGREEMENT ON HOUSING BILL, COMMEND BILL PASSAGE IN HOUSE

WASHINGTON, DC - Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, today formally announced an agreement with the House of Representatives and the Administration on comprehensive legislation to address the current housing crisis and strengthen our economy. Dodd and Shelby also commended the House of Representatives for passing the legislation, which was sent to the House from the Senate last week and… Continue Reading


July 23, 2008

DODD, SHELBY TO SPEAK ON HOUSING BILL

WASHINGTON, DC - Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, will hold a press conference today to discuss the housing legislation that is being considered by Congress. WHO: Senators Chris Dodd (D-CT) and Richard Shelby (R-AL) WHAT: Press conference to discuss housing legislation WHEN: 12:30 P.M. TODAY, Wednesday, July 23rd WHERE: Senate Radio/TV Gallery -30-… Continue Reading


July 23, 2008

DODD, SHELBY STATEMENT ON HOUSING LEGISLATION

"We have been working diligently for months on legislation to address the housing crisis. Last week we sent legislation to the House. Since then, we have been engaged in extensive and largely fruitful discussions with our counterparts in the House of Representatives, as well as Administration officials. We remain optimistic about the prospects for this legislation." -30-… Continue Reading

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