September 25, 2008


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 on the President’s deaf ears.  Now, we face challenges that were entirely preventable and avoidable.
“The Administration has put forth a proposal to address the crisis they helped to create.  It would be a grave mistake to sign away billions in taxpayer dollars with no questions asked.  For that reason, the Congress is working around the clock to develop a solution that includes more oversight, stronger protections for taxpayers, and measures that will address the root cause of this crisis – the collapse of the housing market.  We are making progress, and are committed to sending the President a proposal in an expeditious – but judicious – manner."
Senator Dodd will meet with Republicans and Democrats from the Senate Banking Committee and the House Financial Services Committee tomorrow at 10 a.m. A press availability will follow; location to be determined.  Senator Dodd has also accepted an invitation to attend a meeting at the White House with Congressional leaders tomorrow afternoon.