Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, tomorrow will hold a hearing on the nomination of the Honorable Steven C. Preston to be Secretary of the U.S. Department of Housing and Urban Development (HUD).  Preston currently serves as Administrator of the U.S. Small Business Administration.  Earlier this year, Dodd called for former HUD Secretary Alphonso Jackson’s resignation after he failed to adequately address questions from Banking Committee members about allegations of impropriety. Jackson resigned on March 31^st.

D.C. – As part of National Food Allergy Awareness Week, Senator Chris Dodd (D-CT), Chairman of the Senate Health, Education, Labor, and Pensions (HELP) Subcommittee on Children and Families, today convened a subcommittee hearing to examine the impact of food allergies on children and families.  Senator Dodd authored and introduced the Food Allergy and Anaphylaxis Management Act, a bill that addresses the critical need for uniform and consistent food allergy policies in our schools while providing them with the resources they need to implement them.   

Forty years ago, seven days after the assassination of Dr. Martin Luther King, President Lyndon Johnson signed the Fair Housing Act of 1968 ("Civil Rights Act"). The Fair Housing Act of 1968 prohibits discrimination against any person because of race, color, religion, sex, handicap, familial status, or national origin. After the act, neighborhoods could no longer be designated 'whites only' and restrictive racial covenants were outlawed. All Americans were given equal rights to the sale, rent, lease, and finance of their home in all housing markets. Senate Democrats are committed to safeguarding those rights. Senator Richard Durbin said, "If we're really going to strive for the kind of opportunity which is the hallmark of America, we really have to talk about economic opportunity. That means making certain that people have an opportunity for a job that gives them a chance to raise their family and a decent place to live in a safe neighborhood. That's why the Fair Housing Act is so important."

Good morning.  Today, the Senate Committee on Banking, Housing and Urban Affairs is meeting to hold its second hearing on the “HOPE for Homeowners Act” and other plans to address the historic levels of foreclosures the American people are experiencing. 

Remarks as Prepared: This morning, the Committee examines student lending. 

Approximately one year ago, in this room, I asked a Governor of the Federal Reserve a simple question: would the subprime mortgage market meltdown spread to other sectors of the credit markets.  The answer was no.  We on this Committee were told that the crisis was “contained.”

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Remarks as Prepared: Good morning.  Today, the Senate Committee on Banking, Housing and Urban Affairs is meeting to hold a hearing entitled “Turmoil in the U.S. Credit Markets: Examining Proposals to Mitigate Foreclosures and Restore Liquidity to the Mortgage Markets.”  Last week, we had an excellent hearing to look at one result of the turmoil we are experiencing in the capital markets – the decision of the federal government to commit $29 billion in taxpayer money to rescue Bear Stearns.  Today, we are focusing more on the other end of the spectrum – the impact of the crisis on homeowners.

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Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today spoke on the Senate floor on the housing crisis, the housing stimulus package proposed by Majority Leader Harry Reid (D-NV), and his efforts as Chairman to curb the unprecedented wave of foreclosures in order to help Americans keep their homes.

Remarks as Prepared: I want to welcome everyone to this important hearing to conduct oversight of the U.S. Department of Housing and Urban Development and examine the Administration’s proposed budget for Fiscal Year 2009.  The Department of Housing and Urban Development, or HUD, plays a vital role in the lives of millions of Americans around the country, both through direct housing assistance and initiatives which strengthen entire communities. 

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Remarks as Prepared: The Committee will please come to order. We gather here this morning to examine an issue of paramount importance: the condition of our nation’s infrastructure, and proposals for needed improvements to it.