Freddie Mac executive found dead

Chief Financial Officer committed suicide, police say

The Chief Financial Officer of money-losing mortgage giant Freddie Mac was found dead at his Virginia home this morning. Police are calling it a suicide. David Kellerman, 41, had worked for Freddie Mac for the past 16 years and was named acting CFO last September when the U.S. government seized control of the company to keep it from failing. A leading provider of the sort of high-risk mortgage loans that fueled the real estate bubble—and the current recession—Freddie Mac lost more than $50 billion last year. Many of the company’s employees learned of Kellerman’s suicide on radio news reports as they drove to work. John Koskinen, the company’s interim chief executive, described his dead colleague as “a man of great talents. His extraordinary work ethic and integrity inspired all who worked with him.”

The Associated Press

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