David Kellermann the Acting Financial Chief of Freddie Mac has been found dead in his residence. See http://www.bloomberg.com/apps/news?pid=20601103&sid=aBxYH7szIVOA&refer=us
His Corporate profile is here : http://www.freddiemac.com/bios/exec/kellermann.html He is reported to have been a volunteer for the D.C. coalition for the Homeless. See http://www.dccfh.org/
He was only 41 and the original reports are stating that his death is an apparent suicide. However, because of the complicated financial crisis in the nation this has become national news. Why, does a young man kill himself and leave his family behind. As such the motive for his suicide must be examined . The Fairfax Police have the investigation. See http://www.fairfaxcounty.gov/police/news-releases/
Reports stated the last CFO of Freddie Mac had his own personal financial crisis see : http://www.luxist.com/2008/09/19/freddie-mac-cfo-home-on-the-market-estate-of-the-day/
Some of the scandals at Freddie Mac were reportedly committed while President Obama’s right hand man and Chief of Staff Rahm Emanuel http://en.wikipedia.org/wiki/Rahm_Emanuel was a member of the Board of Directors of the dysfunctional government- private entity. In fact reports indicated that Emanuel was aware of accounting fraud and enhance lobying for Freddie Mac, which was later detrimental to the organization. See http://www.freerepublic.com/focus/news/2215640/posts and http://www.hispanicbusiness.com/news/2009/3/26/freddie_mac_scandals_began_during_emanuels.htm and see http://abcnews.go.com/Blotter/story?id=6201900
While no one can at the present time connect the past and present players at Freddie, I believe this scandal will grow. Power, Money, greed , Washington D.C. banking, politics are all ingredients for a scandal.
Legally many past and present Board of Directors have seemingly not acted in accordance with the legal duties a board member must subscribe and adhere to. However, one of the duties of Board Members is to hire and fire Corporate Officers. See http://smallbusiness.findlaw.com/business-structures/corporations/corporations-structure.html
Who hired Mr. Kellermann his resume is light for a man charged with running the finances of a billion dollar organization?
Open Secrets http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html gives you a list of the generous contributions Freddie made to politician’s. Talk about conflict of interests.!
Fannie Mae the sister of Freddie in the mortgage debacle hired Barney Franks lover as an official despite his ” light” credentials. See http://www.foxnews.com/printer_friendly_story/0,3566,432501,00.html
God Rest Mr. Kellermann and peace to his family, but I have suspicions, especially because he did not get this job without connections. Baring some domestic or deep medical depression history questions are unanswered.
In my opinion any action taken by Freddie and Fannie is dubious and skepticism should surround whether these entitles still serve the nation. See http://article.nationalreview.com/?q=ZjRjYzE0YmQxNzU4MDJjYWE5MjIzMTMxMmNhZWQ1MTA=