Freddie Mac CEO to resign - Democratic Underground

sabra

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Mon Mar-02-09 11:22 AM
Original message

Freddie Mac CEO to resign

Source: CNN

NEW YORK (CNNMoney.com) — Freddie Mac's chief executive, installed last year after the government took over the troubled mortgage finance company, is resigning, the company and its regulator said Monday.

David Moffett will step down by March 13. Freddie Mac (FRE, Fortune 500) said it would announce a successor by then.

Moffett said that he planned to return to the financial services sector. He served as chief financial officer of U.S. Bancorp from 1993 until 2007.

"We are very sorry to see David go," Freddie Chairman John Koskinen said in a statement. "He made valuable contributions to Freddie Mac as the company transitioned into conservatorship."

Read more: http://politicalticker.blogs.cnn.com/2009/03/02/freddie-mac-ceo-to-resign/

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sarcasmo

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Mon Mar-02-09 11:47 AM
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1. I am sure this Greedy Fuck took his end of the year bonus first before he resigned.

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No Elephants

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Mon Mar-02-09 11:51 AM
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2. "Transitioned into conservatorship." Now, there's a euphemism for you. Wonder what he got on his

way out the door.

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Tue Apr 30th 2024, 04:36 AM
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