Wednesday, April 22, 2009

Freddie Mac CFO found dead…

This is disturbing. This is not your average guy, this was a Vice President within one of our largest Government Sponsored Entities (GSE), THE person who has the most inside information on the state of Freddie’s finances which we know are depressing, but suicidal?
Freddie Mac CFO Found Dead

Police say there are no signs of 'foul play' in the death of David Kellermann.

NEW YORK (CNN) -- The acting chief financial officer of mortgage financier Freddie Mac, David Kellermann, was found dead Wednesday morning, police said.
Eileen Fitzpatrick, a spokeswoman for Freddie Mac, confirmed the death.

Police are investigating the death as an apparent suicide, WTOP-FM reported, quoting Mary Anne Jennings, a spokeswoman for police in Fairfax County, Virginia.
Authorities said there were no signs of foul play when officers were called to Kellermann's home on Raleigh Hill Road shortly before 5 a.m., according to Fairfax County police spokeswoman Lucy Caldwell.

"At this point there are no signs of foul play," Caldwell said. "It's under investigation. I don't believe we have categorized it yet at this point."

Kellermann, 41, who also served as the company's senior vice president, had been with the company for more than 16 years.

He was named to those positions in September 2008, and was responsible for the company's financial controls. This included overseeing the company's financial reporting, compliance with tax requirements and regulations, and annual budgeting and financial planning.

Kellerman reported to former CEO David Moffett.

Before assuming his current posts, Kellerman was senior vice president, corporate controller and principal accounting officer.

Kellerman held a master's degree in finance from George Washington University and a bachelor's in political science and accounting from the University of Michigan. He has served as a volunteer board member of the District of Columbia Coalition for the Homeless.

Freddie Mac (FRE, Fortune 500) was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.

I’m sorry, but CFO’s who are doing the right things, working in institutions that are financially healthy DO NOT KILL THEMSELVES! WHAT IS GOING ON IN FRE?