“My decision is very bitter sweet and my plans are to ensure a smooth transition “Charles E. Halderman, Jr. CEO of Freddie Mac commenting on his leaving the financial giant later this year.
Mr. Halderman is the latest in a series of upper tier managers who have left Freddie Mac over the last several years. In his departure he describes a company unable to face the criticism and second guessing inherent in a institution unable to face a loosing future. The Obama appointee feels hamstrung with a Congress unable to decide the future of Freddie Mac and Haldeman feels this is “having a negative impact” on the company.
This story and Mr. Haldeman’s leaving would be a complete yawner except for the fact Mr. Haldeman will be leaving a baseline salary of $900,000 and upon his departure will stand to make as much as $6 million in deferred and bonus pay for 2011. Not bad for a two year stint. In view of Freddie Mac’s trashing of the taxpayer dollar, Charles Haldeman’s salary is enough to make you want to join the Wall Street Crowd or at a minimum vote for Herman Cain.