It doesn’t take a whole lot to connect the stress at a place like Freddie Mac (FRE) and the death by suicide of its CFO David Kellermann, who was found early Wednesday morning.
So far, it looks like the NYT has the best outline of the story and the amazing pressure that Kellermann found himself under, trying to appease regulators, politicians, Freddie Mac’s homeowner constituents, and yes the company’s private investors — negligable as they may be.
Mr. Kellermann, 41, began working non-stop, sometimes returning home only to change clothes, colleagues say. He was losing weight and telling friends that it seemed impossible to appease everyone — regulators, lawmakers, investors and other executives — with competing demands. Someone was always angry at him, he told one friend. And no matter how many hours everyone worked, it seemed like the economy and homeowners were still slipping further into the abyss.
Then earlier this month, Mr. Kellermann and other executives at Freddie Mac and Fannie Mae became the focus of intense scrutiny when lawmakers learned they would receive bonuses totaling $210 million. Mr. Kellermann was set to receive $850,000 over 16 months. Reporters and camera crews showed up at his home in an affluent Washington suburb. Fearing that someone might attack his house, his wife or their 5-year-old daughter, he asked the company to provide a security detail.
The article describes the death as a hanging.
None of us can imagine the personal hell he was going through, that drove a 41-year old to decide to hang himself in his basement in the middle of the night.