German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
Top Executive of US Mortgage Giant Freddie Mac Found Dead
World | April 22, 2009, Wednesday // 15:46
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Freddie Mac's trading floor. Photo by Freddie Mac
The acting chief financial officer of the troubled mortgage giant Freddie Mac was found dead in his home early Wednesday morning.
The news was reported by the Washington Post, citing local police.
David Kellerman apparently committed suicide in his Vienna home in Fairfax County, Virginia - a Washington DC suburb.
Kellermann, 41, was a longtime Freddie Mac executive who joined the firm as analyst in 1992. He was named acting chief financial officer last September when the federal government seized Freddie Mac, the Post informs.
Life has changed dramatically for Freddie Mac employees in the year since the housing market crashed and the economy entered a major downturn.
Kellermann was responsible for the company's financial controls, financial reporting, tax, capital oversight, and compliance with federal oversight requirements, and also oversaw the company's annual budgeting and financial planning processes.
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