Stress Blamed For Death of Freddie Mac Exec

cityfile · 04/22/09 02:59PM

David Kellermann, the acting CFO of Freddie Mac who was found dead in his home this morning, hanged himself, according to police. "Some neighbors said Mr. Kellermann had lost a noticeable amount of weight under the strain of the job, and some said they had suggested that he should quit to avoid the stress." Kellermann reportedly hired a security firm to stand watch outside his home after reporters turned up at his front door to ask about his bonus. Hope you're happy, Charles Grassley. [NYT, WSJ]

Wall Street: Wednesday Morning

cityfile · 04/22/09 05:48AM

• Morgan Stanley reported a larger-than-expected loss for the first quarter this morning. The bank reported it lost $177 million, down from the $1.41 billion profit it collected during the same period in 2008. [WSJ, NYT, BN]
• David Kellermann, the chief financial officer of Freddie Mac, was found dead in his Virginia home, the result of an apparent suicide. [WaPo, BN]
• Things have gone from bad to worse for Steve Rattner: New York City's comptroller is investigating whether Quadrangle "intentionally misled or deceived" city pension funds by failing to disclose finder's fees. [WSJ]