Remarks as Prepared: A year ago, the CEO of a trusted, respected securities firm and a former Chairman of Nasdaq said the following:

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement this evening after the Senate confirmation of two key members of President Obama’s economic team who were recently vetted by the Committee.  The Senate confirmed by unanimous consent Mr. Shaun Donovan to be Secretary of the U.S. Department of Housing and Urban Development and the Honorable Mary Schapiro to be Chairman of the Securities and Exchange Commission.

Remarks as Prepared: This morning, we meet to consider five distinguished individuals who President-elect Obama has designated for nomination to the Securities and Exchange Commission, to the Federal Reserve and to the President’s Council of Economic Advisers – positions critical to restoring confidence in our financial system and to stabilizing our underlying economy. I want to thank each nominee for appearing before this Committee 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, today announced that they are examining the reported fraud by Bernard Madoff. In a letter to Securities and Exchange Commission (SEC) Chairman Christopher Cox, the Senators specified that they are reviewing how federal regulators supervised and oversaw this firm and requested documents and other information about the case.

“As our country struggles through this severe recession, we need regulators who will be strong cops on the beat, rather than turn a blind eye to the reckless practices that have caused this crisis. The reported fraud by Bernard Madoff is a stark reminder of the need for regulators that are committed to supervision, oversight, and protecting American investors and consumers. 

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, held a conference call today with local Connecticut auto dealers, union officials and representatives from the Connecticut Automotive Retailers Association to discuss the ongoing efforts to stabilize the U.S auto industry and save the thousands of jobs in Connecticut that depend on it.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement after the Senate confirmed Neil M. Barofsky to be Special Inspector General for the Troubled Asset Relief Program.  The confirmation passed by unanimous consent last night.  Under Chairman Dodd’s leadership, the Banking Committee has been vigilant in its oversight of the Emergency Economic Stabilization Act, having held three hearings and coordinated frequent briefings since the passage of the law.

On Monday, Roll Call published the following op-ed by Senator Chris Dodd (D-CT). Senator Dodd is the Chairman of the Senate Banking, Housing, and Urban Affairs Committee.

On election night, President-elect Barack Obama said, “This is a defining moment in our history.” If that is so — and I believe it is — then putting our country back on a sound economic footing is our defining challenge. Our economic crisis is the center of gravity to which all our other problems are being pulled.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement after receiving a report from the Government Accountability Office (GAO) on the Treasury Department’s implementation of the Troubled Asset Relief Program.  Dodd incorporated the GAO reporting requirement in the financial rescue package in order to ensure adequate oversight of the law.