WASHINGTON – Congressman Barney Frank, Ranking Member of the House Financial Services Committee, today released the following statement in response to the news that Moody’s Investor Service has downgraded Bank of America, Wells Fargo, and Citigroup. 

“I can’t comment on the absolute value of Moody’s ratings, but I am pleased that the rating agency recognizes that such large institutions are not “too big to fail.”
 

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