Dodd Lays Out Plan to Protect American Homeowners

Press Release

DODD LAYS OUT PLAN TO PROTECT AMERICAN HOMEOWNERS

Presidential Candidate Chris Dodd today released a comprehensive plan to protect American homeownership. Saying that we needed proven leadership to address the issue, Dodd laid out a plan that would help keep Americans affected by the mortgage crisis in their homes through immediate action and proposed structural reform of the system to ensure that families have access to affordable mortgages in the long run.

"Homeownership is the cornerstone of the American dream and essential to the strength of a healthy and vibrant middle class," said Dodd. "It will take proven leadership that knows the issue and how to get things done, if we are going to get immediate action to help families threatened with foreclosure in the wake of the subprime mess and forge long term solutions to keep home loans affordable."

In his capacity as Senate Banking Committee Chairman and with his skill for bringing together leaders to find solutions to the most complex and pressing problems, Chris Dodd has already started to work to put the subprime mortgage market back on track. Earlier this week, he convened a meeting with Federal Reserve Board Chairman Ben Bernanke and U.S. Secretary of the Treasury Henry Paulson and received a positive response that was reflected in the markets.

BREAK IN TRANSCRIPT

Source