Three years after the Wall Street crisis and three years into the worst economic downturn since the Great Depression, the federal government all of a sudden decides to sue major banks on behalf of Fannie Mae and Freddie Mac. Jim Boswell, who’s no friend of the big banks, isn’t buying into the idea that the two federal housing giants were ripped off:

Enough is enough. At this point in time the Government and the FHFA have no right to sue the banking industry on behalf of Fannie Mae and Freddie Mac. That is a joke. When it comes to the financial crisis, Fannie Mae and Freddie Mac were Players (Big Players)—not naïve, innocent victims who were bedazzled by the banks. Not only were the GSE’s as bad as the banks leading up to the crisis, in more ways than not, they were ahead of the banks (and the regulators) in finding ways to add to their coffers while ignoring the risk they placed on the people of the United States of America.

Like Boswell, we have little sympathy for the Too Big To Fail banks. But it’s ludicrous to argue they were the sole cause of the housing bubble and subsequent crash. It’s even more ludicrous to go after them at a time when the economy is so fragile. Every dollar banks end up paying out to the government to settle lawsuits is one less dollar they can loan to businesses and individuals. Do we really want that?

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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