Posted on 04/25/2009 12:40:39 PM PDT by FromLori
Freddie Mac(FRE Quote) is temporarily bringing back its former chief executive as it deals with the apparent suicide of its acting chief financial officer.
More on FRECramer's Take on Headline StocksPhoto Gallery: Freddie Mac CFO Found DeadFreddie Mac CFO Found DeadUS Foreclosures Up 24 Pct In 1QFannie Mae CEO Allison to Head TARP: ReportCramer: Bargain Basement AssetsGeithner: We May Oust Bank CEOsFannie and Freddie Planned Bonuses: ReportCramer: Bargain Basement AssetsFannie, Freddie May Aid Mortgage Banks Market Activity David Moffett, the former government-appointed CEO who resigned in March, will return as a consultant to interim CEO John Koskinen. He will help Koskinen direct the finance division and oversee the production of financial statements. "I am grateful to David for offering to assist us during this challenging time," Koskinen said in a statement. "David is well positioned to advise me in my oversight of the finance function. He knows the company well from his time as chief executive, and has built an impressive career in finance and accounting leadership as an executive with other leading public companies."
(Excerpt) Read more at thestreet.com ...
Perfect. Bring back the guys who likely had a hand in the matters leading up to this tragedy to ‘Contain; the fallout.
Mr. Moffett retired as Vice Chairman and Chief Financial Officer of U.S. Bancorp in 2007 having served the company in this capacity since 1993.
Prior to 1993, Moffett held executive level positions at some of the nation’s leading financial services companies, including Bank of America and Security Pacific Corp.
Is there any way we can get the Frankfurter to think like that (late) acting CEO?
Lori, I loved your Friday thought. LOL
Hmmmm, how much did he make off of his first stint with Freddie? How much will he make off of this one?
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