Must be tough living on mere $8 Million a year. So tough one would have to commit suicide cause how otherwise was David Kellermann, acting CFO of mortgage monster Freddie Mac supposed to make ends meet? Actually, I made the $8 Million a year figure up, but I wouldn’t be surprised if that was David Kellermann’s annual pay. Afterall, being chief financial officer of Freddie Mac, he was reporting directly to recently resigned CEO David Moffett. Must be tough being Freddie Mac CFO. I’m talking suicide tough.
The news of Freddie Mac CFO suicide is very fresh. David Kellermann was only found dead earlier today. The police received the 911 call at 4.48am and officers were dispatched to a $900k villa in Hunter Mill Estates in suburban Virginia where David Kellermann lived with his wife. At this time there hasn’t been much detail released by the police, but there is no suspicion of foul play, plus David Kellermann apparently left a suicide note.
David Kellermann was made a CFO of Freddie Mac in September 2008 after working for the company for 16 years. When he got the post, it was just after US government had seized control of Freddie Mac following their $50 billion a year loss and gave it a bailout of $45 Million. Way to nominate your CFO, Freddie Mac. Give high paying jobs to suicidals who can’t bear crap. Suicide is for the weak anyway.
As of a few minutes ago, a statement with updates on Freddie Mac CFO Suicide has been released by Treasury Secretary Timothy Geithner who said on behalf of the treasury that they are deeply saddened by the new of David Kellermann’s death. No actual updates on how he committed suicide yet.
Peter Schiff is the president of Euro Pacific Capital and financial advisor to Ron Paul – former Republican presidential candidate and who seemed as the only decent option for president Americans had. In this interview, Peter Schiff suggests that $700 billion government rescue bail out will do more harm than good, ultimately sending US dollar into a free fall, harming American purchasing power.
According to Peter Schiff, the proposed bail out bill would sell Americans souls to the devil. He blames government for bringing America into this mess by lowering interest rates down to an unreasonable level. Peter Schiff foresees that much bigger problems are going to hit America, problems that will no longer be related solely to housing market, but will affect entire economy. He downright says that US economy will be destroyed and advices everyone to get rid of American dollars and US assets period – while you can and as fast as you can. Actually, he says that the government has already destroyed the US economy.
The host of the show was rather obnoxious and incompetent jumping in with his irritating voice and unrelated remarks, but overall the information provided by Peter Schiff delivered on its premise. It may sound like a doomsday prophecy, and as non expert on economy I have very little to add to what he said, but Peter Schiff does have my respect because he was financial advisor to Ron Paul so he must know what he’s saying. I’ve got some US dollars in my US account. I’m tempted to go and exchange it all… But if I do, I’m gonna just spend it on weed and booze. Can’t win one way or another.
