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Old 04-22-2009, 10:49 AM   #1
vapid
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Default Freddie Mac CFO found Dead

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By Patrick Rucker

WASHINGTON (Reuters) - David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, was found dead on Wednesday in his suburban Virginia home after apparently committing suicide, a local police source said.

Police officials in Fairfax County would not confirm the death was a suicide but said police were called at 4:48 a.m. EDT to his home in the leafy suburb of Reston.

Police spokeswoman Lucy Caldwell did not elaborate on the cause of death, saying only that the incident was under investigation. ABC News said Kellermann was founding hanging in the basement of his home.

Kellermann, 41, was a 16-year veteran of the firm who had served in various accounting roles before he was named acting chief financial officer in September.

That move came after the Treasury Department seized the company, and its sibling mortgage agency Fannie Mae, as the agencies faced deep losses on a crashing U.S. housing market that was rapidly engulfing other financial institutions.

The two government-sponsored enterprises had a hand in about half of the entire U.S. mortgage market and were taken over in an effort to ward off further damage to the U.S. housing market.

Colleagues and former co-workers were shocked at the news.

"He was a smart guy who had risen fast. And people liked being around him. That's not something you could say about everyone there," said a former Freddie Mac executive who knew Kellermann.

Kellermann had been closely involved in many key accounting and financial issues since 2003 when regulators found that Freddie Mac had improperly booked years of losses.

Before taking over as acting CFO, he served as senior vice president, corporate controller and principal accounting officer.

(Additional reporting by Walden Siew; Editing by Frances Kerry)

Wow, guess he really shouldered a lot of the pressure/responsibility. Too bad Dick Fuld hasn't done the same.
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Old 04-22-2009, 11:46 AM   #2
Dasher
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Default Re: Freddie Mac CFO found Dead

His suicide points to even more impropriety in Freddie Mac's books.
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Old 04-22-2009, 11:48 AM   #3
Sanity
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Default Re: Freddie Mac CFO found Dead

Oh man I jokingly said it will be a matter of time before these dudes jump outta the window.
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Old 04-22-2009, 12:02 PM   #4
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Default Re: Freddie Mac CFO found Dead

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Originally Posted by Sanity
Oh man I jokingly said it will be a matter of time before these dudes jump outta the window.
I remember some guy was on TV telling these guys to kill themselves also. Oh well.
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Old 04-22-2009, 01:37 PM   #5
PistolPete
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Default Re: Freddie Mac CFO found Dead

Was he facing jail time or something? Or was it the weight of millions of people with no money cause of his shady dealings that caused him to take the easy way out?
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Old 04-22-2009, 02:20 PM   #6
ManlyStanley69
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Default Re: Freddie Mac CFO found Dead

Suicide is such an unmanly way to go out
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Old 04-22-2009, 04:03 PM   #7
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Default Re: Freddie Mac CFO found Dead

Nothing good or funny about this at all...

RIP
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Old 04-22-2009, 05:22 PM   #8
picc84
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Default Re: Freddie Mac CFO found Dead

I'm surprised it took so long. And i'm not joking at all, nor do I think this is funny.
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Old 04-22-2009, 09:40 PM   #9
crounsa810
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Default Re: Freddie Mac CFO found Dead

So do they write it off to miscellaneous expense?


I know, not funny at all. I just had to put that in there.
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