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05 Aug 2009 20:45

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Biz, U.S.: Obama wants to break up the most bankrupt marriage ever

  • Fannie May and Freddie Mac, two government-borne companies designed to help with home ownership and mortgages, were mashed together into government ownership last year (like a bad marriage) as the financial crisis became critical. source
  • Now, the Obama administration is considering splitting them back up again and restructuring them entirely, adding a third company in the mix to handle toxic debt. Obama economy guy Lawrence Summers has long wanted to do this, by the way. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 09:10

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Biz, U.S.: Freddie Mac’s acting CFO found dead in an apparent suicide

  • The circumstances David Kellermann, a 41-year-old Freddie Mac executive who lived in the D.C. metro area, was found dead early this morning at his home in an apparent suicide. Kellermann had long been an executive with the company in various roles, but only became acting Chief Financial Officer last year at the peak of the financial crisis. source
  • The circumstances David Kellermann, a 41-year-old Freddie Mac executive who lived in the D.C. metro area, was found dead early this morning at his home in an apparent suicide. Kellermann had long been an executive with the company in various roles, but only became acting Chief Financial Officer last year at the peak of the financial crisis.
  • Not a fun job Freddie Mac was one of the early victims of the financial crisis. After housing’s freefall hit them hard, the company was taken over by the government in September. They then became a quasi-governmental agency that took on big parts of Obama’s recovery plan. Kellermann became acting CFO around this time. source
Posted by Ernie Smith • 2 Comments • Permalink
 
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