Senator Chris Dodd, the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, spoke to the Chamber of Commerce of Eastern Connecticut this morning about the current state of the economy, the Hope for Homeowners program and his efforts to address the financial crisis in Washington, D.C.

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, today performed the swearing-in of members to the National Commission on Children and Disasters.  Dodd was the Senate sponsor of the legislation approved by Congress last year that created the Commission, which is charged with analyzing how the Federal government can better meet the specific needs of children before, during and after disasters.  The bill was endorsed by Save the Children, based in Westport, Connecticut.  Save the Children’s Vice President and Managing Director Mark Shriver is the elected Chairman of the Commission.   

Download the podcast here:

Remarks as Prepared: The Committee will please come to order.  We gather this morning at an extraordinary and perilous moment in our nation’s history. The landscape of our nation’s economy has been radically re-shaped by the United States government over the course of just a few days and in a totally ad hoc manner.  Companies that form the foundation of our financial markets are shrinking and disappearing practically overnight.  Their insatiable appetite for risk has permeated all sectors of the financial services industry, and has spread beyond our shores.  It has felled giants like Bear Stearns and Lehman Brothers; brought others to their knees like Merrill Lynch, A.I.G., Fannie Mae, and Freddie Mac; prompted the largest thrift failure in our history – IndyMac Bank; and eliminated the final two independent investment banks – Morgan Stanley and Goldman Sachs.

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, will tomorrow convene a hearing entitled “Turmoil in U.S. Credit Markets:  Recent Actions Regarding Government Sponsored Entities, Investment Banks and Other Financial Institutions.”  Secretary of Treasury, Henry Paulson, Chairman of the Federal Reserve, Ben Bernanke, and Chairman of the Securities and Exchange Commission, Christopher Cox, will testify before the full Committee. Video coverage courtesy of C-SPAN

“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 colleagues in Congress to develop robust solutions to these serious problems.”

Download the podcast here:

Prepared Remarks: Last month’s war between Russia and Georgia began in the small region of South Ossetia, but it cast a shadow that crosses continents.  In the aftermath of the conflict, the United States and our allies face serious new challenges. 

Senator Chris Dodd (D-CT) made the following opening statement at today’s Senate Foreign Relations Committee hearing on protocols making Croatia and Albania members of NATO. Dodd, who is a senior member of the Foreign Relations Committee and Chairman of its Subcommittee on the Western Hemisphere, Peace Corps, and Narcotics Affairs, chaired the hearing at the request of Chairman Joe Biden (D-DE)

Senator Chris Dodd (D-CT) and Representative Joe Courtney (D-CT-2) visited the Boys and Girls Club of Southeastern Connecticut this afternoon to meet with children who participate in Mystic Aquarium’s Immersion Presents program.  Senator Dodd and Representative Courtney, who championed funding for this initiative in Congress, also heard from the President of Mystic Aquarium and the Executive Director of the Boys and Girls Club.

In an effort to combat the epidemic of obesity sweeping the nation, Senators Chris Dodd (D-CT), Tom Harkin (D-IA), and Jeff Bingaman (D-NM) today introduced the Federal Obesity Prevention Act of 2008. This legislation, which is cosponsored by Senators Edward Kennedy (D-MA) and Barbara Mikulski (D-MD), would establish a federal interagency taskforce responsible for creating a national strategy for combating obesity across America.