Freddie Mac Exec Commits Suicide

Not long ago, Iowa Senator Charles Grassley (R) suggested that executives in the financial industry take a Japanese approach toward accepting responsibility for the collapse of the American economy by killing themselves. "And in the case of the Japanese," Grassley said, "they usually commit suicide before they make any apology."

I thought this remark was in poor taste.  It is particularly in poor taste given the fact that Congress, itself, is equally responsible for the downfall of Wall Street and the financial sector, and Congress has thus far done everything they can to avoid taking responsibility.

While Grassley's comments were specifically aimed at AIG execs, it looks like he got his wish.

The acting chief financial officer of Freddie Mac was found dead in his home today of an apparent suicide.

David Kellerman, a 16 year veteran of the mortgage loan guarantor was discovered by his wife who found him in the basement.  The two have a young daughter.

Apparently, Kellerman was under investigation by the SEC regarding possible accounting violations. While this certainly doesn't make him a saint, nobody deserves this.

Isn't it about time for the SEC to investigate Bawney Fwank and others in congress who had over-sight over Freddie Mac and Fannie Mae?

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