Admittedly, I’m suspicious by nature;  this cynicism has been a long time in coming and is based on much personal bad experience.  People lie, they let you down, or often, things simply aren’t as they seemed upon initial and even repeated examination — hidden motives are later revealed, which put matters into an entirely new light.

Which brings me to the death this week by Freddie Mac’s CFO, Kellerman.

It’s an apparent suicide, and there’ve been many reports that he was stressed at work; so stressed, in fact, that he’d been losing weight.  There were also some reports that his parents had died when he was young, and this had haunted him his entire adult life.  Forgive the cynic in me, but that last struck a particularly “off” note in my head; it sounded rather like people putting out reasons, rather than actual reasons for a suicide attempt. 

He was having congress and regulators breathing down his neck, trying to get him to put the Freddie Mac numbers into a “happier” context.  I.E., he was being encouraged by people in the administration to cover up the worst of the numbers regarding the costs of Obama’s plans to bailout bad mortgages.

When you consider that 1) Freddie Mac defaults have doubled in a months’ time and 2) over half of ALL mortgages are handled by either Freddie Mac or Fannie Mae, we’re talking about a lot of loans going south which will need to be covered by the government.

Hmmm… maybe it’s just my cynicism talking, but this is starting to look like one of those “ripped from the headlines” episodes of Law & Order, where there’s a twist or two in store, which changes the nature of the investigation.  Now, I’m not saying I think Kellerman was murdered, but I will say that, given he was the highest ranking long-time Freddie Mac employee still with the company, he’d be the most familiar with the numbers; and should the government come out with bogus, lowball figures about how much a Freddie Mac bailout would cost the taxpayers, it’s convenient that he’s suddenly unable to come forward with the truth…

Now all this would all be wild speculation save for this: Bank of America executives are testifying that they were told they’d lose their jobs if they told investors about the bad deal they were making in buying out troubled Merrill Lynch.

 So did Kellerman kill himself, or was this murder?  I’ll leave it for you to decide…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: