Sen. Richard Burr (R-N.C.) told his wife to pull the family's cash out of an ATM at the height of last fall's financial crisis — but he advised North Carolinians not to panic when Charlotte-based Wachovia was taken over by Citigroup in an emergency transaction around the same time.
In September 2008 Burr put out the following statement:
“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."
It's not clear precisely when, but around that time Burr called his wife in North Carolina, telling her to withdraw all the family's cash from the bank.
"On Friday night, I called my wife and I said, 'Brooke, I am not coming home this weekend. I will call you on Monday. Tonight, I want you to go to the ATM machine, and I want you to draw out everything it will let you take. And I want you to go tomorrow, and I want you to go Sunday,'" Burr told the Henderson County Chamber of Commerce on Monday.
Read on.
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