Senator Chris Dodd (D-CT), a senior member of the Senate Committee on Health, Education, Labor, and Pensions and the Chairman of its Subcommittee on Children and Families, released the following statement today on a new study by researchers at the University of Missouri indicating that obese children and teens are at risk of heart disease at an earlier age.

“This is a constructive step forward.   However, I regret that the industry did not take it much, much earlier when it might have done more to stem the overwhelming tide of foreclosures ravaging our neighborhoods and forcing thousands of American families from their homes.  Moreover, this should not be considered a replacement for the guarantee program authorized by the recently-enacted financial rescue law which the FDIC has agreed to operate.  We are still awaiting agreement from the Treasury Department to move this program forward, despite indications given to me weeks ago that an agreement was imminent.  I have been in contact with both Secretary Paulson and Chairman Bair on this issue, and I intend to keep pushing for more aggressive and effective action.”

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs and a senior member of both the Committees on Foreign Relations and Health, Education, Labor and Pensions, held a press conference today where he announced that he will continue to serve as the Chairman of the Banking Committee and laid out what his priorities will be for Connecticut and the Committee.

Senator Chris Dodd (D-CT) and Congressman Joe Courtney (CT-2) sent the following letter today to Jeffrey B. Kindler, CEO of Pfizer Inc, expressing their concern over recent reports that suggest the company has been training foreign contractors to replace local workers at their facilities in New London and Groton.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, along with several other members of the Committee, today sent a letter to President Bush urging the Administration to address the root cause of our nation’s economic problems – the foreclosure crisis.  The Emergency Economic Stabilization Act gives the Administration considerable new authority to prevent foreclosures.  While recent news reports have indicated that the Administration plans to use this authority – which was granted nearly four weeks ago – the Treasury Department has yet to announce any efforts dedicated to helping people keep their homes.

“Today's interest rate cut is a welcome step to the extent that it facilitates the unlocking of our credit markets so that businesses can continue to operate and American families are able to afford homes, cars and to send their children to college.  Recent rate cuts, including today's, also underscore Chairman Bernanke's foresight in rejecting calls by other Federal Reserve Governors to raise interest rates several months ago.

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, held a hearing on today entitled “Turmoil in the U.S. Credit Markets: The Genesis of the Current Economic Crisis.”  The hearing focused on what led to our country’s economic crisis, and solutions to restore stability and soundness to our financial markets and the American economy.

Senator Chris Dodd (D-CT) released the following statement today on the Administration’s announcement that it is releasing the funding for the Low Income Home Energy Assistance Program (LIHEAP) that was included in a comprehensive funding measure passed by Congress and signed by the President last month.  The bill provided $5.1 billion for LIHEAP including over $125 million for the state of Connecticut, nearly twice the amount of funding Connecticut received last year.

As part of the recently-enacted Emergency Economic Stabilization Act, Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, successfully worked to require the Federal Reserve to report to the Congress when it undertakes loans made under unusual and exigent circumstances. Dodd released the following statement after receiving the first two reports from the Federal Reserve:

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, today announced that he is supportive of the Administration’s plan to use the authority granted by the Emergency Economic Stabilization Act passed by Congress last month.  This legislation expanded the range of options that federal agencies can use to intervene in the economy, including direct liquidity injections into our nation’s banks.  This assistance will be subject to the protections Congress put into the law, including warrants, limits on executive compensation, and a prohibition on golden parachutes for companies receiving government assistance.  Dodd met with Treasury Secretary Henry Paulson earlier today to discuss the details of the plan.