09.29.08

Burr Statement on the Citigroup Acquisition of Wachovia

Today, U.S. Senator Richard Burr issued the following statement regarding the announcement of Citigroup's acquisition of Wachovia:

"Today's news of Citigroup's acquisition of Wachovia might be unsettling to many in North Carolina. While these are difficult times in our economy, it is important to remember that this move provides for the protection of accounts and the soundness of savings for Wachovia's customers. FDIC has said that all services for customers should continue uninterrupted."

"Today's news once again shows that our financial markets are currently facing tremendous uncertainty, and it is an absolute necessity to move quickly to bring some stability to the crisis."