Banking Chairman Holds First Hearing of the Year
"Strengthening Our Economy: Foreclosure Prevention and Neighborhood Preservation"
January 31, 2008 Archive Stream of Hearing
January 31, 2008
Real Player RequiredWatch Video As the nation experiences a dramatic economic slowdown and Congress considers economic stimulus packages to present to the President, Senator Chris Dodd (D-CT), Chairman of the Banking, Housing, and Urban Affairs Committee, held his first hearing of the year on the root cause of the current problems in the economy: the tumult in the mortgage markets and the rising number of home foreclosures. Dodd focused the hearing on both short- and longer-term solutions to address the housing crisis, based on the premise that the mortgage meltdown is largely responsible for the current economic downturn.