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, announced that the Committee will hold a hearing on Thursday entitled “Turmoil in the U.S. Credit Markets: Examining Recent Regulatory Responses.” Tomorrow’s hearing will focus on the federal regulators’ role in the economic crisis and solutions to restore stability and soundness to our financial markets.

Senator Chris Dodd (D-CT) will visit Cheshire High School tomorrow morning to speak to Juniors and Seniors.  Dodd will discuss the current financial crisis and other issues with students.

Senator Chris Dodd visited Norden Systems in Norwalk on Monday to announce new funding that will allow this defense contractor to continue building critical radar equipment for the U.S. Military. Dodd made the announcement in a meeting with company employees and also toured the plant.

Senator Chris Dodd met with local Hispanic business owners and community leaders today.  Dodd visited businesses and non-profit organizations along Park Street and discussed how current economic conditions are affecting the Hispanic community in Hartford.