Dodd Wants Flexibility to Hold Hearings on Economic Meltdown

Posted September 16, 2008 at 3:12pm

Banking, Housing and Urban Affairs Chairman Chris Dodd (D-Conn.) said Tuesday he would like to keep the Senate from recessing next week so he could respond with hearings on any additional news from Wall Street.

Dodd said he has asked Majority Leader Harry Reid (D-Nev.) to have a pro forma session once the Senate breaks.

“I want the ability to reconvene my Banking Committee as events unfold to bring before the committee respective members of the administration and others as we further examine the options we ought to be taking,” he said.

Dodd canceled a hearing today that scheduled testimony from Treasury Secretary Henry Paulson on the government takeover of Freddie Mac and Fannie Mae. The Banking chairman said he has rescheduled that hearing for next week, as well as ones that will bring Federal Reserve Chairman Ben Bernanke and Securities and Exchange Chairman Chris Cox to the Capitol.

Dodd also made a final plea for a second stimulus package, saying that consumers need additional relief in the wake of the financial fallout and rising energy costs. Dodd was optimistic the Senate could pass a stimulus package.