Monday, March 2, 2009
Chief of Freddie Mac Resigns
The CEO position of Freddie Mac is up for grabs now that its top executive resigned. I am curious as to who would want to take over at this point. The company has the backing of the government which makes the job pretty secure, but the challenging nature of the job at hand will be very stressful for the next CEO. Freddie Mac continues to show losses in the market like most of its competitors but its $25.2 billion fourth quarter loss is almost one-eighth of original subsidy the government provided the company last year. This company like AIG, banks, and the auto dealers, will keep coming back for more money given that the government has shown its willingness to keep these companies afloat.
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