August 10, 2007

Statement of Senator Dodd on the Ongoing Subprime Mortgage Problems

“People all across America are hurting because of serious and on-going problems in our housing markets. The Administration can’t continue to close their eyes to the scope of the problem and hope it goes away. This problem isn’t ‘contained’ as the Administration contends. The President needs to immediately reconsider his ill-advised position that he won’t even consider the possibility of easing GSE credit caps, provided it is done in a safe and sound manner by regulators, until there is statutory reform. I believe that both can be done and the Administration shouldn’t use that as an excuse for doing nothing.”