Freddie Mac CEO to step down

The Hill, Washington, DC ^ | 2011-10-26 | Peter Schroeder

[rabscuttle385]

Charles E. "Ed" Haldeman, Jr., has announced his plans to step down as chief executive officer of mortgage giant Freddie Mac sometime in the next year.

The Federal Housing Finance Agency (FHFA), which regulates Freddie and its counterpart Fannie Mae, announced Wednesday that Haldeman is looking to leave the government-sponsored enterprise some time next year.

[GeronL]

I wonder how many tens of millions this public servant made before he joins the OWS?

[Chickensoup]

Dodd and Frank should be strung up.

[Excuse_My_Bellicosity]

When they say “stepped down”, they mean “fired”. I’d like to have a job where being fired and means that you walk away with money that rivals the record Powerball lottery win.

[Excuse_My_Bellicosity]

Considering the staggering billions that went through this “company”, I’d bet the proverbial house and lot that this guy is walking with money that makes Michael Eisner look like a lightweight.

[dragnet2]

Let me guess, he's moving to an undisclosed South American country?

To spend more time with the family no doubt.

[org.whodat]

+Bank account full, time to retire.

[paul51]

Let’s see a report of his bonuses for the past 5 years

[glock rocks]

And they just walk...

[NMCicero]

The part I find truly entertaining about this is that Mr. Haldeman is apparently such a sock puppet that he can’t even announce his own career moves (or have his company make an announcement) instead its left up to their regulator.

Bye bye worthless stooge, enter, stage left, another worthless stooge.

[Auntie Mame]

This is a smart, accomplished man with a proven successful track record. It's very possible he sees the writing on the wall and he's getting out.

Charles E. Haldeman

Chief Executive Officer and Director

Officer since January 2009

 

62 Years Old

Charles E. Haldeman, Jr. joined the Board in August 2009, upon the commencement of his employment as Chief Executive Officer of Freddie Mac. He is 62 years old. He is an experienced finance executive and leader of finance and investment organizations. Mr. Haldeman's experience as a leader of financial organizations enables him to provide valuable business and operating perspectives to the Board. Prior to joining Freddie Mac, Mr. Haldeman served as Chairman of Putnam Investment Management, LLC, the investment advisor for the Putnam Funds, from July 2008 though June 2009. He joined Putnam Investments in 2002 as Senior Managing Director and Co-Head of the investment division, was appointed President and Chief Executive Officer in November 2003, and served in that capacity until June 2008. He was a member of Putnam Funds' Board of Trustees from 2004 until July 2009, and was named President of the Putnam Funds in 2007. He served as a member of Putnam Investments' Board of Trustees from November 2003 until June 2009, where he served as a member of the audit committee. Prior to joining Putnam, Mr. Haldeman served as Chief Executive Officer of Delaware Investments from 2000 to 2002, and as chairman from 2001 to 2002. He was the President and Chief Operating Officer of United Asset Management Corporation from 1998 to 1999. Mr. Haldeman served as chairman of Dartmouth College's Board of Trustees from 2007 until 2010.

Compensation for 2010

Salary	$900,000.00
Bonus	$0.00
Restricted stock awards	$0.00
All other compensation	$104,374.00
Option awards $	$0.00
Non-equity incentive plan compensation	$2,684,700.00
Change in pension value and nonqualified deferred compensation earnings	$214,460.00
Total Compensation	$3,903,534.00

[Excuse_My_Bellicosity]

Yep. Funny how these people who quit “to spend more time with the family” surface a month later doing the same thing under a different corporate logo. Guess that family time isn’t worth much to them after all, they’d rather throw another $100 million in the bank that won’t affect their lifestyle in the least.

This is why I’ll never be a billionaire. If I was 55 years old and had that kind of money, the last thing I’d be doing is putting on a tie and going to work every day. I’m one of those weirdos that likes to see my family for more than an hour a day. Is it that hard to find a hobby?

[Excuse_My_Bellicosity]

Yeah, that’s what I expected. Michael Eisner’s official salary with Disney was a shade less than $1 million/year even though he pulled in over a billion during his tenure there. Funny how that works.

[FrogMom]

What? He’s made his millions on our backs, so is stepping aside for the next low-life requiring a pay-off?

[DAC21]

The guy is a piker, he will need to come up with some creative accounting before the end of his tenure to catch up to Jamie “the wall” Gorelick’s 26 million that she absconded with from Freddie. Not to mention Franklin Raines 50 million. All DemonRats, that needs to be shouted loud and clear.

[Pontiac]

He ought to be stepping down off of a prison bus at Leavenworth and do the perp walk to a life term.

[PaleoBob]

This whole Freddie Mac and Fanie Mae thing is a monster SCAM and should be shut down TODAY.

[meadsjn]

Charles E. "Ed" Haldeman, Jr., has announced his plans to step down as chief executive officer of mortgage giant Freddie Mac sometime in the next year.

My first question was, "How much is his walk-away money?", so I clicked on the link. The article doesn't say how much, but ...

Lo and behold, the first comment after the article was this:

Just curious. How many millions of dollars will he walk away with? The last couple became multimillionaires. I'm just curious. I hope he does just as well. There is nothing that bothers me more than my Masters not getting a fair shake.

[theDentist]

Got tired of being Bawney’s Bottom?

[dead]

Jamie “the wall” Gorelick’s 26 million that she absconded with from Freddie. Not to mention Franklin Raines 50 million.

Yeah, this guy's $3,000,000 seemed astonishingly low, compared to the other crooks before him.

My guess is that they just found a more creative way to shovel the booty to these guys. Watch what he makes over the next five years from friends of the Obama Administration.

He'll get his $50 million one way or another.