Yesterday it was reported by all major news outlets that David Kellerman, the CFO of Freddie Mac, was dead due to an apparent suicide. Unconfirmed reports stated he had hung himself in the basement of his home and that his body was found by his wife at 5am Wednesday. She called the Fairfax police shortly thereafter. I am certain most of you who are reading this are already well aware of all of these facts.
I found out about Mr. Kellerman’s death yesterday morning through a conversation two of my co-workers were having cubicle to cubicle. One of these two, who will remain nameless, said something to the effect of “good riddance” in relation to Mr. Kellerman’s suicide. He went further and added that all of the CEO’s, CFO’s, and heads of these banks should follow Kellerman’s example and either resign or kill themselves. He recalled how during the fall of 1929, investors jumped from buildings and that that was an appropriate response. This co-worker wondered aloud why there was not more of this type of reaction now by those in the most powerful positions at banks and financial institutions.
Now I know many of you reading this may find agreement with most, if not all, of what my opinionated co-worker said. I certainly don’t fault you or think worse of you for doing so. There is a lot of resentment and hate from the working class toward the wealthy CEO’s of these companies. It is understandable and perfectly justified. They, the CEO’s, are partially to blame for this whole financial mess we find ourselves mired in. Their bad decisions and greed helped create the housing market collapse and its subsequent domino effect on all sectors of the US and World Economy. But, what specifically bothered me, and continues to concern me, was my co-workers expressions of “good riddance” toward the news of Mr. Kellerman’s death.
Has our collective resentment, anger, hate toward the CEO’s and their ilk grown to the point where we feel satisfaction in news of their deaths?
That was the question running through my head for the last 24 hours and it is an important one. The truth to remember here is that Mr. Kellerman was a human being. He was someone’s husband, son, brother, friend, and perhaps even father. Prior to writing this, I was unable to confirm whether Mr. Kellerman had any children. In any case, those family and friends are grieving now, just like any of us would be if we suffered a similar loss. I just find it inappropriate to feel satisfaction over another person’s death or to dismiss it in such a callous way.
I know many will say that Mr. Kellerman took the coward’s way out. This may be true. But none of us truly know the pressures he was under or his mindset as he committed to taking his own life. We don’t know his involvement or the extent thereof in the mistakes that Freddie Mac made prior to the financial crisis. There is just a great deal we don’t know and may never know as outsiders looking in.
I disapprove of the actions and attitudes of those CEO’s and executives at the top. But I will never feel satisfaction in their deaths, nor wish ill toward them or their families. I feel sadness for the wife, family, and friends of Mr. Kellerman and wish that he had made a different choice. He didn’t and I am sure he will not be the last as we go forward from here.
What do you think? Is my co-worker just one bad egg or is this something you feel as well?
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