Remarks as Prepared: Today, the Committee meets for second time in as many weeks to consider the state of the domestic automobile industry.

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, today announced that the Committee will hold a hearing next week on Neil M. Barofsky, President Bush’s intended nominee to be the Special Inspector General for the Troubled Asset Relief Program. This position was designed to conduct, supervise, and coordinate audits and investigations of the purchase, management and sale of assets under the Troubled Asset Relief Program.

Remarks as Prepared: Today, the Committee continues its oversight of the implementation of the Emergency Economic Stabilization Act of 2008, known as “EESA.”

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), a senior member of the Foreign Relations Committee and Chairman of its Subcommittee on the Western Hemisphere, Peace Corps, and Narcotics Affairs, today spoke in support of the U.S. – India Nuclear Cooperation Agreement currently being considered by the Senate.  Dodd is serving as the manager of the bill on the Senate floor today. 

Senator Chris Dodd (D-CT) today made the following statement on the floor of the Senate to honor his longtime friend and Connecticut resident Paul Newman: 

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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