March 14, 2007
DODD TO U. S. CHAMBER OF COMMERCE: I take a back seat to no one in my commitment to the preeminent power of America’s Markets.Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today asserted his confidence in America’s capital markets and offered his thoughts on how to strengthen those markets when addressing the U.S. Chamber of Commerce at its Capital Markets Summit. Chairman Dodd is considered an authority on financial and economic issues, having served on the Banking Committee for over 26 years, through the 1987 stock market crash, the Asian financial crisis, and the burst of the internet bubble. Chairman Dodd’s analysis of the markets emphasized: · The dominance and strength of American’s markets, due to foreign investment in U.S. financial stock, the market capitalization of the major markets, and the number of foreign IPOs on U.S. exchanges. · The importance of the legal framework in sustaining our markets, and the need for effective, efficient rules and regulations that protect our investors. · The need to educate, train, and recruit the best talent in the world in order to maintain and build upon our competitiveness and to continue America’s strong economic performance. “We are at a critical moment in our nation’s history,” said Dodd. “Our leadership in the world has been achieved over a period of two and a quarter centuries by the vision and sacrifice of generations of patriots. That leadership is today being questioned and in some ways squandered as it has never been before. The stakes for all of us as Americans could not, in my view, be higher. The topic of today’s gathering is the future of America’s capital markets. But in reality, we are all here out of a shared concern about the future of America itself. The issue before us today presents an opportunity for us all—Democrats and Republicans, private entrepreneurs and public leaders—to come together to have a serious discussion about ways to move our country forward.” Sen. Dodd also announced that he intends to hold hearings on capital markets and competitiveness in the coming months.
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