Senator Chris Dodd (D-CT) continued his series of “Road to Economic Recovery” events today at the Atlantic Steel & Processing Company in Waterbury.  Dodd met with the company’s employees and management to hear from them about how they are creating new jobs as many companies are being forced to cut their workforce.  Dodd also toured the facility.

Senator Chris Dodd  held a series of “Road to Economic Recovery” events throughout the state to address the challenges facing Connecticut families. Dodd discussed the impact of home foreclosures in Connecticut at the home of Yolanda and Edwin Cruz in East Windsor, CT. Dodd is the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs and author of the Housing and Economic Recovery act, bipartisan legislation before the Senate to help Americans keep their homes and bring much-needed reforms to our housing system.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today announced that the Committee confirmed the nominations of three individuals to serve on the Securities and Exchange Commission, as well as several other nominees for positions within the Administration.  During the 110^th Congress, the Banking Committee has approved a total of 24 nominees, including those confirmed today. 

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement on the historic decline in home values as recorded by the Case-Shiller index, which measures home values in 20 metro areas across the country, and the record drop in consumer confidence as surveyed by the Conference Board:

“This is a disappointing response.  We believe this legislation represents a compromise that will bring relief to hundreds of thousands of homeowners and the housing markets without putting the American taxpayer at risk.  All the pieces of this package have overwhelming bipartisan support.  Furthermore, the legislation includes two major provisions that the Administration has urged the Congress to pass, FHA Modernization and GSE reform.  We hope the White House will reconsider its position.”

Senator Chris Dodd (D-CT), with Senators Dick Durbin (D-IL) and Bob Menendez (D-NJ), last week introduced legislation that will help lower gas prices by compelling big oil companies to begin utilizing the 68 million acres that they lease but thus far have not used to produce energy.  Representatives Edward Markey, Maurice Hinchey, Rahm Emanuel, and Nick Rahall announced companion legislation in the House of Representatives earlier this past week.     

Today, Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, announced that they have completed bipartisan legislation that includes major efforts to address the housing crisis.  By providing relief to hundreds of thousands of American homeowners and introducing broad improvements to the nation’s housing system, the legislation will help to contain the current problems in the housing markets and prevent another crisis of this magnitude. The Senate may begin debate on the bill as soon as today.

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

When the Committee last gathered to examine this critical issue, we considered the perspectives from individuals who held expertise in public and private financing, civil engineering, labor, and business.  They were unanimous in voicing compelling support for increased investment in our nation’s infrastructure and for the need to develop and implement alternative ways to finance this critically important investment in our nation’s future.

Senator Chris Dodd (D-CT) today delivered the following remarks at a Senate Foreign Relations Committee hearing entitled “Sovereign Wealth Funds: Foreign Policy Consequences in an Era of New Money.” Dodd is a senior member of the Foreign Relations Committee and the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, which has jurisdiction over foreign investment. The Banking Committee held the first Congressional hearing on sovereign wealth last year, and has undertaken several oversight initiatives, including convening another hearing in April to evaluate the regulation of these funds. In addition, last year Dodd passed bipartisan legislation to reform procedures for assessing the national security implications of foreign investments in the United States.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement on data from the Bureau of Labor Statistics that the unemployment rate rose by half a percentage point, the sharpest monthly increase in over 20 years, while the economy lost jobs for the fifth consecutive month.