October 24, 2009 Obama praises Dodd, says he's one of his "favorites" Play video

(NECN: Stamford, Conn.) - President Barack Obama spoke at a fundraiser for Connecticut Senator Chris Dodd Friday.

Dodd is facing a tough re-election fight next year, and has struggled in recent polls.

The president says that Dodd has been one of his favorites from the moment he arrived in the United States Senate.

"Contrary to what Chris thinks its not his good looks," Obama said. "It's the fact that he's someone who believes deeply in the core ideals of out country, and the nobility of public service."

Obama urged Connecticut's wealthy hedge fund and Wall Street executives to support his administration's financial reforms.

Obama noted that several financial industry executives may be at the $1,000-per-plate dinner, and urged them to "join us, don't fight us." He says that the nation was dangerously close to a "Great Depression" and the financial industry will benefit from reform and a level playing field.

Obama credited Dodd for his role in pushing through banking and credit card industry reforms.

Information from the Associated Press is included in this report.