Wednesday April 22, 2009
WASHINGTON (AP) — David Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his home Wednesday morning in what broadcast reports said was an apparent suicide.
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.
Kellermann was named acting chief financial officer in September 2008, after the resignation of Anthony “Buddy” Piszel, who stepped down after the September 2008 government takeover. The chief financial officer is responsible for the company’s financial controls, financial reporting and oversight of the company’s budget and financial planning.
Before taking that job, Kellerman served as senior vice president, corporate controller and principal accounting officer. He was with Freddie Mac for more than 16 years.
We note the conclusion from The Housing and Economic Recovery Act of 2008 by Catherine Austin Fitts,
“Whatever the outcome, if you hold a position in which you manage large databases covering the U.S. mortgage or government bond markets, or any other markets with symptoms of significant collateral or securities fraud, you might want to consider finding a new job.”