Majority Press Releases
REID AND DODD, IN LETTER, CALL ON MCCONNELL TO STOP PROTECTING WALL STREET AND START SUPPORTING WALL STREET ACCOUNTABILITY
Washington, D.C. - Senate Majority Leader Harry Reid and Senate Banking Committee Chair Chris Dodd sent a written response to Senate Republican Leader Mitch McConnell today, responding to a recent letter from the Senate Republican Caucus outlining Republicans' intent to protect Wall Street and keep the same rules in place that brought America's economy to the brink of collapse. In their response, Reid and Dodd call out Republicans for "mischaracterizing the legislation and protecting Wall Stre… Continue Reading
April 16, 2010
DODD STATEMENT ON MCCONNELL LETTER
"Bring me your ideas, let's work on this together, let's debate the bill, and pass strong Wall Street reform to protect our country from the kinds of abuses that lost so many their jobs, their homes, and their life savings. But let's not engage in nonsense." WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement in response to a letter by Senate Republicans rejecting Dodd's Wall Street reform bill as being "partisan." "We can disagree over … Continue Reading
April 16, 2010
DODD STATEMENT ON SEC CHARGES AGAINST GOLDMAN SACHS
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on news the Securities and Exchange Commission charged Goldman, Sachs & Co. and one of its vice presidents with defrauding investors. "The SEC lawsuit against Goldman Sachs makes serious allegations involving securities fraud. I will not comment on ongoing litigation." "But let's be clear, we don't need to know the outcome of this case to know that the opaque nature of unregulated … Continue Reading
March 29, 2010
FACT CHECK: COMMUNITY BANKS WIN WITH FINANCIAL REFORM
WASHINGTON - Giant Wall Street banks are spending millions of dollars to lobby against financial reform. These giant firms face one problem, money can't buy you love. So, to try and sway public opinion, they are trying to take advantage of the well deserved reputation of their responsible smaller colleagues, community banks. Some giant Wall Street firms abused their customers and took enormous risks that nearly brought down our economy while our nation's nearly 8,000 community ban… Continue Reading
March 23, 2010
DODD STATEMENT: FINANCIAL REFORM MARKUP
Opening Statement of Sen. Chris Dodd Financial Reform: Full Committee Markup For three years now, dating back to our first hearings on home foreclosures in 2007, this committee has been studying the causes and effects of the worst financial crisis since the Great Depression. The effects are obvious. Some of the most prominent financial institutions in our country have been destroyed or seriously weakened - but as bad as that has been the far worse damage has been done to m… Continue Reading
March 19, 2010
DODD CALLS FOR DOJ TASK FORCE TO INVESTIGATE CRIMINAL ACTIVITIES AT LEHMAN & ELSEWHERE
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) sent a letter to Attorney General Eric Holder asking that he commission a task force to investigate activities at Lehman Brothers and other companies that may have engaged in similar accounting manipulation with a view to prosecution of those who broke of the law. Below is the text of the letter: March 19, 2010 The Honorable Eric H. Holder, Jr. Attorney General of the United States United States Department o… Continue Reading
March 16, 2010
RESTORING AMERICAN FINANCIAL STABILITY
Remarks of Sen. Chris Dodd March 15, 2010 As prepared for delivery Two years ago today, Bear Stearns - a fixture of the American financial system for 75 years - was collapsing. Six months later to the day - September 15, 2008 - Lehman Brothers filed for bankruptcy. Today, it is tempting to see those shocking failures as the beginning of the crisis that has claimed millions of jobs, billions of dollars in retirement security, and trillions of dollars in American wealth. … Continue Reading
March 11, 2010
DODD STATEMENT ON FINANCIAL REFORM
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on financial reform. "On Monday, I will present to my colleagues a substitute to the original financial reform package, unveiled last November." "Over the last few months, Banking Committee members have worked together to try and produce a consensus package. Together we have made significant progress and resolved a many of the items, but a few outstanding issues remain." "It has alw… Continue Reading
March 4, 2010
DODD REITERATES PRIORITIES FOR CONSUMER PROTECTIONS
WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) today issued the following statement on financial reform in which he reiterated the importance of including a strong, independent consumer protection watchdog with real authority to crack down on abusive practices. "A lot of attention is being paid to what address the new consumer watchdog will have, but the critical question is will this office have the authority and independence it needs to prevent a replay of the abuses … Continue Reading
February 25, 2010
DODD: RECOVERY “NOT GOOD ENOUGH”
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) outlined just how much work is left to be done to repair our economy at a hearing to consider Federal Reserve Chairman Ben Bernanke's Semiannual Monetary Policy Report to Congress. "Today, as you testify before us, it is worth taking a moment to recognize that our economy is showing signs of emerging from this recession. During the last two quarters, GDP has shown positive growth, as has gross private domestic investmen… Continue Reading
February 22, 2010
DODD ASKS REGULATORS FOR ANSWERS ON COMMERCIAL REAL ESTATE MARKET
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) wrote Federal bank regulators and asked them to report on their efforts to stabilize the very troubled commercial real estate market (CRE). Despite positive signs in the economy, Dodd noted evidence the commercial real estate market continues to struggle. · Last month, the Congressional Research Service reported "delinquency rates for commercial mortgages climbed from 4% at the end of the third quarter of… Continue Reading
February 19, 2010
DODD: WATCH FOR NEW CREDIT CARD PROTECTIONS
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) reminded consumers to look for important new credit card protections on Monday when major provisions of Credit CARD Act take effect. These provisions will stop unfair interest rate hikes and changes in terms, prohibit exorbitant and unnecessary fees, defend the rights of responsible credit card users, and protect young consumers against aggressive credit card solicitations. "Starting Monday, credit card customer… Continue Reading
February 11, 2010
DODD TO NEGOTIATE FINANCIAL REFORM WITH SEN. CORKER
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on developments in financial reform negotiations. "For over a year, the Senate Banking Committee has been grappling with how best to address the many problems that led to the financial crisis." "In that time Senator Corker has proved to be a serious thinker and a valuable asset to this committee. For that reason, I called him Tuesday night and asked him to negotiate the financial refor… Continue Reading
February 5, 2010
DODD MOVING FORWARD ON FINANCIAL REFORM
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on the status of Financial Reform in the Senate. "Last night, Senator Shelby assured me that he is still committed to finding a consensus on Financial Reform, but for now we have reached an impasse." "While I still hope that we will ultimately have a consensus package, it is time to move the process forward." "I have instructed my staff to begin drafting legislation to present to th… Continue Reading
February 4, 2010
DODD CONTINUES TO PRESS NEED FOR FINANCIAL REFORM
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held his committee's second hearing on recent proposals by the Obama Administration to rein in Wall Street Banks and made the case for urgent action on financial reform. "… nearly two years after the collapse of Bear Stearns, we still have not updated the laws governing our financial sector, leaving our fragile economy with the same vulnerabilities that led to the economic crisis in the first place," Dodd warned. … Continue Reading
February 2, 2010
DODD HOLDS 1ST HEARING ON NEW PROPOSALS TO REIN IN WALL STREET
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on recent proposals by the Obama Administration to rein in Wall Street Banks. "The Obama administration has proposed bold steps to make the financial system less risky. We welcome those ideas," said Dodd. "The first would prohibit banks - or financial institutions that contain banks - from owning, investing in, or sponsoring a hedge fund, a private equity fund, or any proprietary trading operation unrelat… Continue Reading
January 28, 2010
SENATE PASSES DODD-SHELBY IRAN SANCTIONS BILL
WASHINGTON - Today the U.S. Senate unanimously approved the Dodd-Shelby Comprehensive Iran Sanctions, Accountability, and Divestment Act. "The Iranian regime has engaged in serious human rights abuses against its own citizens, funded terrorist activity throughout the Middle East, and pursued illicit nuclear activities posing a serious threat to the security of the United States and our allies," said Chris Dodd (D-CT), Chairman of the Senate Banking Committee. "With passage of this bill, we … Continue Reading
January 28, 2010
DODD STATEMENT ON BERNANKE CONFIRMATION VOTE
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) called on the Senate to vote to confirm Ben Bernanke for a second term as Chairman of the Board of Governors of the Federal Reserve System during the Senate debate on that nomination. "I am a strong supporter of this nomination, and I want to explain why," Dodd said. "Over the last year, the chairmanship of Ben Bernanke has in no small measure made it possible for this nation to avoid a catastrophe that I think would… Continue Reading
January 27, 2010
DODD, REED PRAISE SEC DECISION ON CLIMATE RISK DISCLOSURE
WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) and Securities, Insurance, and Investment Subcommittee Chairman Jack Reed (D-RI) praised the Securities and Exchange Commission's decision to encourage companies to appropriately disclose climate-related issues facing their business. While climate change and laws to deal with climate change have the potential to seriously effect business operations, little information has been available to investors in the past. "Climate … Continue Reading
January 23, 2010
DODD AND GREGG ISSUE JOINT STATEMENT EXPRESSING CONFIDENCE THAT BERNANKE WILL WIN CONFIRMATION VOTE
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) and Banking Committee Member Judd Gregg (R-NH) issued a joint statement on their confidence that Federal Reserve Chairman Ben Bernanke will be confirmed by the Senate for a second term. "In the last few days there have been a flurry of media reports on Chairman Bernanke's confirmation prospects, highlighting a very vocal opposition. Chairman Bernanke has done an excellent job responding to one of the most significant fi… Continue Reading
