Even during
Digital
Detox week,
Alan Greenspan's killing spree
continued. The latest victim was
an
executive and 16-year veteran of FrankenDodd's monster, Freddie Mac:
Law
enforcement sources said David Kellermann, acting chief financial
officer of mortgage company Freddie Mac, was found hanging in the
basement of his Vienna, Va., home, dead from an apparent suicide early
this morning.
[...]
Kellermann, 41, and a 16-year veteran
of Freddie Mac, had been the company's CFO since September, after a
government takeover of the company following the housing crisis.
There
are many possible reasons for Kellerman's despair, all of them at least
partially attributable to Greenspan's bubble. He had lost a lot of
money in Freddie Mac stock. He was being questioned in the Freddie Mac
accounting scandal. He was receiving an $800,000+ bonus from a failed
company receiving a massive bailout from the taxpayers, an outrage that
caused him to be hounded by reporters and to hire security for his
family.
More interestingly, Kellerman may have been a good guy caught in the
great government bank cover-up. Like
Ken
Lewis before him, Kellerman was apparently
bullied
by regulators who didn't want him to fulfill his fiduciary obligations
to investors lest the facts be inconvenient for Dear Leader:
He
and a group of company attorneys tussled with its regulator in early
March as the firm prepared to file its quarterly earnings report with
the Securities and Exchange Commission. The group insisted that Freddie
Mac inform shareholders of the cost to the company of helping carry out
the Obama administration's housing recovery plan. The regulator urged
the company not to do so, according to several sources familiar with
the matter. An FHFA official contested that account, saying the
regulator did not oppose disclosure but how the information was
portrayed in the filing.
Unlike the coward and fool Ken Lewis, Kellerman prevailed and told the
truth.
Greenspan's Body Count
now stands at ninety-three:
