DOLE URGES BERNANKE, BAIR TO LET WACHOVIA DO WHAT'S BEST FOR WACHOVIA
Today U.S. Sen. Elizabeth Dole made the following statement after speaking with Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair on the federal government's role in the merger of Charlotte, N.C.-based Wachovia Corporation:
"Today I called the Chairman of the Federal Reserve, Ben Bernanke, as well as the head of the FDIC to voice my concerns regarding the future of Wachovia and to stick up for the people of North Carolina. I urged them to let the private marketplace work and allow Wachovia to do what is best for thousands of North Carolina jobs and the city of Charlotte. I have asked both the Fed and the Treasury Department to keep me closely apprised of the situation as it moves forward and cautioned them to not interfere where the private marketplace has clearly spoken."