Wednesday, April 22, 2009

Just what was going on, here?

It was just reported that David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home.

WUSA-TV and WTOP Radio have said he was found dead in his Northern Virginia home. Kellermann, 41, was Freddie Mac's chief financial officer. He had held that post since September,2008. Suicide is suspected.

Freddie Mac and sister Fannie Mae, which together own or back more than half of the home mortgages in the country, have been rocked with skyrocketing defaults and have together received about $60 billion in federal bailouts.

Kellermann became acting chief financial officer in September 2008, after the resignation of Anthony Piszel, who stepped down after the September 2008 government takeover. The chief financial officer is responsible for the company's financial controls, financial planning and oversight of the company's budget and financial reporting.

Kellerman had served as a senior vice president, a corporate controller and a principal accounting officer for over 16 years prior to his more recent appointment.

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