Chris Dodd
The Public Record
Christopher Dodd is a former U.S. Senator from Connecticut, serving from 1981 to 2011. A member of the Democratic Party, Dodd was known for his work on issues such as health care, education, and financial regulation. He played a significant role in the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which aimed to prevent the kind of financial crisis that occurred in 2008. Dodd also served as the Chairman of the Senate Banking Committee, where he was influential in shaping policies related to housing and banking.
What plans do we have, if any, to assist our regional banks and community banks?
I appreciate your invitation to testify on my experiences with the SEC with regard to the Bernard Madoff scandal.
There can be no excuse for that colossal failure. But I demand--the victims of this fraud...demand--an explanation.
Bernard Madoff stole $50 billion. He stole from individuals and pension funds and charities and municipalities like Fairfield in my home state.
The SEC received more than ample information in the form of detailed and substantive complaints, but a thorough and competent investigation or examination was never performed.
Yes. How about, just in terms of you have the Boston office, the New York office. These things kind of go on.
Bernie Madoff stole $50 billion, and maybe more. He stole from individuals, he stole from pensions funds, he stole from charities and municipalities.
So a single phone call, a single letter, would have exposed this for what this was----
I support the President in his efforts to withdraw American forces from Iraq in the most responsible and rapid means possible.
The question is how do you do this. We all recognize the problem. Now what is the answer?
We appreciate that very much. And let me just say we appreciate very much as well the Administration's continuing conversation with us.
Instead of helping people understand risk, it was hiding risk, in effect, too often and relying on the people who paid their salaries.
I again want to commend you, your colleagues, and the Committee staff for the serious way in which you have attacked this national problem.





