Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today released the following statement after the Senate voted against a resolution to block the release of funds authorized by the Emergency Economic Stabilization Act:

“The Senate sent an important message today.  The incoming Administration will face many challenges in the days and weeks ahead, and none will be more important than addressing our economic crisis swiftly and strategically.  With this vote, the Senate is providing the Obama Administration with an important tool to stabilize our economy, to help homeowners keep their homes, and to protect the savings of millions of American families.  I am committed to continuing the Committee’s aggressive oversight of this program and to working with the Obama Administration to provide any additional tools it may need to create jobs, to stem the foreclosure crisis, and to put our economy back on a sound footing.”

-30-