Acting CFO Of Freddie Mac Found Dead This Morning
David Kellermann, a former Freddie Mac senior vice president who had been serving as the acting chief financial officer of the mortgage buying company since its takeover by the federal government last September, was found "hanging in the basement of his Reston home, dead from an apparent suicide" early this morning. Police were called to his home by someone inside the house at about 5 am today and found Kellermann's body.
We'll update the post with more information as it comes in.
"Freddie Mac Official Dead in Apparent Suicide" [Washington Post]
"Freddie Mac CFO found dead " [CNN]
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Comments:
@JGKojak: He only took over after the company failed. I think there is so much anger and hate over what happened, that some people become quick to point fingers, and it's harsh to be the subject of so much scorn. I don't presume to know what predisposed this, but I think I can safely say that the failure of Freddie Mac and the anger from the fallout contributed to this. Such a tragedy.
@pecan 3.14159265: Yeah, this could easily end up being a case where he was just overwhelmed by the backlash and criticism and didn't have or seek out the nessessary support to deal with it.
@Nicolai Hilckmann: That was my initial thought.. A failing company, The CFO is under contract and can't be fired...
Either that or he invested in his own company and lost everything! Why would his companies financial well being have any effect on his life (lost job, so what....!) Wouldn't make me commit suicide and I am a really depressive personality!
This dude was formerly the head of accounting or something like that. I wouldn't be surprised if we see the mother of all frauds/screwups come out of this (something that dwarfs what we've previously seen). I have no specific information...just a feeling that comes from spending many years in the financial industry. This just doesn't smell right.
@Nicolai Hilckmann: That was my first thought also
I figured that the online conspiracy theory wackies will be linking this to Vince Foster's death, the Kennedy Assasination, crop circles, the New World Order, and the Illuminati by lunchtime...
@metaled: But then, I imagine certain personality types are attracted to this particular job, so while you or I could say...hey, lost my job, that's sucks, but so what? But for him, it's like the end of the world.
@Anthony Rinaldi: So the proper way for Mr. Kellerman to deflect wrongly pointed criticism at himself (criticism of an indiviudal I hadn't before heard of from any of my pitchfork-wielding populist brethren) would have had to start with him firing himself from his job (as it's not a wholly private enterprise and requires taxpayer dollars to operate)?
@bmwloco: You're right, you can't ever really know what goes on in someone's mind. There's intense pressure to be the kind of person you always imagined yourself to be, and for many people, it becomes too much to bear. I certainly can't imagine how heavy of a burden it must be to contemplate death, but for some people it's a daily occurrence.
He worked for the company in 16 years. During a series of accounting scandals, he was a controller and in position to have signed off on some pretty major fraud. I wouldn't claim his innocence just yet.
Big parts are about money, though. Life isn't about breathing, but if you stop, you die!
@ADismalScience: Until companies started failing, CEOs and advisors have been more or less in the background...it wasn't necessarily pertinent for the public to know who they were. I can't say for sure that there wasn't something that passed by his desk, but I cannot possibly come to presume that he was absolutely complicit in anything. I'm just not comfortable laying blame.
If there is, Wall Street does not seem to care, the stock is only down by a few pennies.
@bmwloco: Actually, we know why lemmings appear suicidal. When the population explodes (every 4-6 years), the predators can't eat them fast enough, and they are -everywhere-. With lemmings, it's either they are barely there, or your almost stepping on them it's so many. The cliff thing is just an urban myth. It's more because they are literally everywhere and predators can just eat them at will.
..sorry.. kind of off topic
I'm not saying this isn't a tragedy. I'm just saying that he wasn't new to this company and his job titles during his tenure imply a connection to some very serious allegations of wrongdoing.
@Anthony Rinaldi: The only serious problem Atlas Shrugged ever solved was the unfinished high school literature class syllabus.
@Cafezinha: If we made that much money and lived like "Masters of the Universe", you might feel different.
I am also on the conspiracist side. I am sure those companies have a lot of powerful people scare since the implosion. If this guy was a good guy and wanted to change some shit, he would be a mark immediately.
@Megan Squier: He did. She was 5 and she is a kindergartener at the school where my GF works. She said that the media has since swarmed her school.




















Wow. My condolences to his loved ones.