David Kellermann, the chief financial officer of Freddie Mac was found dead in his home Wednesday morning according to reports. The 41 year old was reported to have committed suicide. Kellermann was a 16 year employee at Freddie Mac and had been named CFO of the company this past September.
My thoughts go out to the family during this horrible time.
But I also wonder if the issues at Freddie Mac may have caused this, and what else needs to come out. It is terrible to speculate at this time, I recognize it, and the issues that created this tragedy may have had nothing to do with the lending giant.
RIP David Kellermann.
WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac’s chief financial officer since September.
Sabrina Ruck, a Fairfax County police spokesman, confirmed to The Associated Press that Kellermann was dead, but she could not confirm that he committed suicide.
Kellermann’s death is the latest blow to Freddie Mac, a government controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.
McLean, Va.-based Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid. ajc.com.
Update: Here is an interesting tidbit from the Washington Post, David may have been an upstanding guy caught in a vice:
Freddie Mac, along with sister company Fannie Mae, had made risky mortgage-related investments that were causing billions in losses. The two firms have received nearly $60 billion in government bailout funds.
Kellermann has figured in several recent controversies at Freddie Mac. He and a group of company lawyers tussled with the company’s regulator in early March as the firm prepared to file its quarterly disclosure. The group insisted that Freddie Mac disclose the $30 billion cost to the company of carrying out the Obama administration’s housing recovery plan, but the regulator urged the company not to do so.
More:
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Time Magazine – Kellermann’s Death Is Latest Shock To Freddie Mac
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Los Angeles Times – Top Freddie Mac official dead of apparent suicide
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Wall Street Journal – Freddie Mac: Tragedy Follows Trouble
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suicide or murder made to look like suicide?
Reports are that he hanged himself. Please keep his family and colleagues in your thoughts and prayers.
P.S. What an insensitive comment, Corey.
Barney and Chris have a fall guy. I wonder if he's ever been to Fort Marcy Park?
I’m sure we’ll find he shot himself in the back of the head twice with a shotgun. Yep, suicide.
So very sad.
Remember they caught the guy that was responsible for JFK’s suicide too. Let’s see.
that sounds a misery, however i am very sorry
Where's the investigation going? under the rug? this should be on all the talks shows for weeks. where's the outrage?
It's over a month now and no cleared news about it yet. I feel sorry about what happened.
I always feel sorry for people that do bad things like this. I would bet that he was a straight shooter, honest fellow that allowed his foot to slip once under pressure from the CEO and then the slide down hill was more than he could live with.
Two of my friends committed suicide in 2009 while the market crashed around them. They did nothing wrong, but the pressure was too much. I miss them all the time and wish they had not been cursed with so much pride.
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