Barney Frank Demands the Four Biggest U.S. Banks to Write Down Second Mortgages

Rep. Barney Frank, chairman of the House Financial Services Committee, last week sent a letter to the CEOs of Bank of America, Citigroup, J.P. Morgan and Wells Fargo demanding “immediate steps” to write down second mortgages. Here is Barney Frank’s full letter: (via WSJ) Mr. Brian Moynihan Bank of America (BAC) Mr. Vikram Pandit Citigroup (C) Mr. James Dimon JP [...]