Freddie Mac Official Kills Self; Pelosi, Barney Frank Move On

We at Peace and Freedom were deeply saddened to learn of the death of David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, today.

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From Politico

In the wake of the AIG bonus scandal, Senate Finance Committee ranking member Chuck Grassley (R-Iowa) said of executives at that bailed out firm, “I would suggest the first thing that would make me feel a little bit better toward them if they’d follow the Japanese example and come before the American people and take that deep bow and say, ‘I’m sorry,’ and then either do one of two things: resign or go commit suicide.”

After the comment provoked intense criticism, Grassley dismissed it as simply heated rhetoric and not a literal suggestion that financial executives kill themselves.

Grassley spokeswoman Jill Kozeny said Wednesday, “Senator Grassley expressed sympathy today for any family dealing with the tragedy of suicide. He appreciates from his own family history how painful suicide can be.”

http://www.politico.com/news/stori
es/0409/21592.html

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David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home Wednesday morning in what police said was an apparent suicide.

David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, in an undated photo courtsy of the company.REUTERS/Freddie Mac/Handout
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Read the rest:
http://news.yahoo.com/s/ap/20090422/ap
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Pelosi Got It Wrong: Congress Ignored Regulators’ Repeated Warnings on Fannie, Freddie

On Sept. 29, 2008, House Speaker Nancy Pelosi, D-CA, praised House Financial Services Committee chairman Barney Frank, D-MA, for his “leadership.” In the next breath, she blamed the sub-prime mortgage meltdown on a supposed lack of Wall Street regulation by right-wing ideologues in the Bush administration. Turns out Pelosi had it exactly wrong. The collapse of government-guaranteed  Fannie Mae and Freddie Mac, which helped send the U.S. economy into a nose-dive, was a preventable man-made disaster, according to documents obtained by Judicial Watch under the Freedom of Information Act.

Washington Examiner
Editorial

In fact, for at least six years prior, officials at the Federal Housing Finance Agency (FHFA) warned key members of Congress – in letters, congressional testimony and email  - that post-Enron financial controls at the two mortgage giants were “inadequate.” They also found that neither Fannie nor Freddie were even filing disclosure documents required of all public companies in a timely fashion. Despite FHFA’s multiple alarms, Congress failed to rein in such illegal and reckless behavior. Prominent among Fannie and Freddie’s congressional defenders was Frank, who said on September 10, 2003 that Fannie and Freddie were “not in crisis.” 

Read the rest:
http://arturoafc54.wordpress.com/2009/04
/19/congress-ignored-regulators-repeated-
warnings-on-fannie-freddie/

http://michellemalkin.com/2009/04
/22/a-few-words-about-the-freddie
-mac-cfo-suicide/