Back in the summer of 2008, as the financial system teetered on the edge of collapse, no one knew what would happen to the debt-laden mortgage giants Fannie Mae and Freddie Mac—would they be allowed to go under, or would the government come to their rescue? What would become of the shareholders? Trillions rested on…
The suicide last month of acting Freddie Mac chief financial officer David Kellerman apparently sparked an obstruction of justice investigation by the Troubled Asset Relief Program's special inspector general, Gawker has learned.
• Who said the good times are over? On the list of the 10 highest-paid CEOs of 2008: Vikram Pandit, Jamie Dimon, Lloyd Blankfein, and Ken Chenault. [AP]
• Bank of America's board continues to stand by CEO Ken Lewis and has no plans to oust him, says "a person familiar with the deliberations." [WSJ]
• Citigroup is…
David Kellerman, the Freddie Mac CFO who committed suicide this week, was told by HR to take some time off from work, shortly before he killed himself. The "job stress" scenario looks ever more likely.
The media's had a good half day now to find out more about David Kellerman, the Freddie Mac CFO who committed suicide early this morning. He hung himself. The "job stress" scenario is looking plausible:
David Kellermann, the acting CFO of Freddie Mac who was found dead in his home this morning, hanged himself, according to police. "Some neighbors said Mr. Kellermann had lost a noticeable amount of weight under the strain of the job, and some said they had suggested that he should quit to avoid the stress." Kellermann…
David Kellerman, the chief financial officer of money-bleeding mortgage firm Freddie Mac, was found dead in his Virginia home this morning. He'd apparently committed suicide. The financial crisis would be one obvious possible motive.
• Morgan Stanley reported a larger-than-expected loss for the first quarter this morning. The bank reported it lost $177 million, down from the $1.41 billion profit it collected during the same period in 2008. [WSJ, NYT, BN]
• David Kellermann, the chief financial officer of Freddie Mac, was found dead in his Virginia…
One of the oddest side effects of the credit crunch, which most recently brought about the nationalization of mortgage giants Fannie Mae and Freddie Mac: Salesforce.com shares are soaring. Fannie and Freddie's fall hasn't boosted Salesforce's business. But Freddie Mac has been taken off the S&P 500 stock index,…
Hey, can you even blame all the stupid people saying stupid things about today's Freddie Mac Fannie Mae bailout? This whole thing has been stupid ever since someone decided to call it the Federal National Mortgage Association. Who names something "Federal National?" Anyway, the good news is, no one understood any of…
Freddie Mac and Fannie Mae, lenders created at the whim of evil government in the 1930s and 1970s respectively, have been brought back under national supervision in the wake of the country's mortgage crisis. The two institutions simply weren't "capitalized" enough to weather the sub-prime storm, and whatever…
