Is The Economy Good When Freddie Mac CFO Commits Suicide?
As if things aren’t bad enough in the economy today with huge mortgage defaults, homes foreclosing in record numbers and the Obama administration proposing another trillion dollar bailout seemingly on a monthly basis, then we have the Cheif Financial Officer, David Kellermann, of Freddie Mac, the organization that’s primarily responsible for the mess we’re in, committing suicide. Meanwhile we’re being told by the powers that be in the Treasury Department, Timothy Geithner, that everything is just fine and dandy. Somehow, I’m finding that very hard to believe.
What would cause a high level CFO in the prime of his career at only 41 years of age to end it all? Was it the 38,000 shares of Freddie Mac stock previously valued at more than $1 million that’s now worth around $30,000 or did the ongoing investigation by the SEC into why the company lost $50 billion in the 2008 financial meltdown contribute to Kellerman’s suicide? Or maybe Kelermann uncovered some damaging evidence of corrupt high level political dealings and feared going public with the info. No one really knows exactly and we may never know the full story.
Situations such as this will certainly contribute to the attitude about what’s really going on with our national economic troubles. Let’s hope we can get some real answers about what happened to Mr Kellermann and what caused him to end his life at such a young age. Unfortunately, truth isn’t a virtue in the US Government today, so all we can do for the time being is speculate.
Read more about Kellermann’s death at Bloomberg.com
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