Dodd raises alarm about crisis in mortgage industry

Dodd082007 During Q&A with reporters in Des Moines (3 min MP3), Connecticut Senator Chris Dodd detailed his beefs with the Bush Administration and the Federal Reserve when it comes to the looming crisis in the home mortgage industry. Dodd meets tomorrow in DC with the Treasury Secretary and the chairman of the Federal Reserve. Here’s Dodd’s statement, via news release: 

"The American dream is at stake, and that demands leadership now. We must act to restore confidence in the markets to revitalize our economy.  I am pleased that Chairman Bernanke, Secretary Paulson and I will have the opportunity to meet tomorrow to try to address these issues. At the same time, I find it troubling that President Bush is sitting by idly – while millions of Americans face foreclosure on their homes – instead of offering the leadership and ideas that this country and our economy need."

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About O.Kay Henderson

O. Kay Henderson is the news director of Radio Iowa.