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“Shut Down Fannie Mae and Freddie Mac,” says James Boswell, Award-Winning Public Risk Manager and Author of Crush Depth Alert
Released
on: May 25, 2010, 04:44 am Burgess, VA. In the early 1990’s James Boswell managed risk for Ginnie Mae’s $500 billion portfolio of mortgage-backed securities during the Savings & Loan crisis. A hands-on manager, Boswell used his unique analytical skills to help rescue the U.S. mortgage banking system and to save taxpayers billions of dollars during those years, for which he received a Vice-Presidential Hammer Award.
Taking aim at these Government Sponsored Enterprises—not as an academic or political pundit, but as a risk manager—Boswell recommends an immediate shut down, but he goes further. “Fannie Mae and Freddie Mac should be replaced with a simple program that rewards responsible homeowners, who have excellent credit and significant equity, with a fixed 30-year mortgage at a 4% interest rate on any home up to $500,000. People who are paying down their mortgages are the real heroes in this economy and should be treated as such.” Boswell also adds, “This new program should be under the Federal Reserve where other interest rates are handled. Such a move would do much to stimulate our economy and reward the deserving. I’m working on these figures now. Continuing as we have maintains the same weaknesses and encourages another housing crisis down the line.” A Fannie Mae/Freddie Mac shut down is just one of the solutions covered in Crush Depth Alert, the only book written about this financial crisis by a manager who has successfully navigated a previous one. Look to Crush Depth Alert— Timely and optimistic, Crush Depth Alert: Solutions for Supplying Power to America’s Distressed Financial System is a book for all who want America to regain its financial footing and prefer practical, reasoned analysis and solutions formulated through successful direct experience rather than speculation or theoretical options. Author: James Boswell, ISBN 978-0-971-78068-2, $15.95, 148 pages. Foreword by Tristan Yates, author of Enhanced Indexing Strategies. Publisher: Fourth Lloyd Productions, LLC, 512 Old Glebe Point Rd., Burgess, VA 22432, 804-453-6394. Contact: Richard or Nancy Stodart, stodart@kaballero.com Order from www.FourthLloydProductions.com, bookstores, Amazon.com, Ingram, Baker and Taylor, Barnes and Noble, Amazon.co.uk, and Ingram International.
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