Author Topic: Freddie Mac CFO assassinated  (Read 75080 times)

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Offline Satyagraha

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Re: New: Kellermann asked for time-off Tuesday night; "suicide" on Wednesday
« Reply #120 on: April 23, 2009, 10:23:07 pm »
Now you see them fitting the square bullshit into the round reality...expect all the filtered data to slowly form the vision of a man who just received $850,000 and was a great family man hung and shot himself in his basement.

Wow!
l

He got an $800k bonus; 178K he'd already received (I think the bonus was spread over 2 years) so I wondered if he planned to skip the country with his family or something... 'time off' for stress was maybe his way to get out while he could? You gotta wonder.
And  the King shall answer and say unto them, Verily I say unto you, 
Inasmuch as ye have done it unto one of the least of these my brethren,  ye have done it unto me.

Matthew 25:40

Offline Waltraut

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Kellermann found hanged, also had gunshot wound??
« Reply #121 on: April 24, 2009, 01:30:34 pm »
Kellermann found hanged, also had gunshot wound??

http://www.allheadlinenews.com/articles/7014883629
Linda Young - AHN Editor

Reston, VA (AHN) - Police are not speculating on the cause of death of Freddie Mac's acting head, David Kellermann, at this point and will leave it up to the medical examiner, Fairfax County Police Public Information Officer Lucy Caldwell told AHN Media.

Kellermann, 41, was found by Fairfax County Police after being called to his home in Hunter Mill estates in the Reston, VA area Wednesday morning.

However, there were "no signs of foul play. It's under investigation. Police were called at 4:49 a.m.," Fairfax County Police Public Information Officer Lucy Caldwell told AHN Media in a telephone interview.

Asked if the death was a suicide, Caldwell said they were leaving that determination up to the county medical examiner. She wasn't sure if the body had been removed yet or not when AHN spoke to her at 8:30 a.m.

"We were just called to respond to an unattended death and it's under investigation," Caldwell said.

Although Caldwell told AHN that police have not yet released the identity of the person who called them, she did confirm to AHN that there were other people present in the house at the time of the death and that there was a gun and a gunshot wound.

Offline Dig

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^ Jury is not out yet if it was hanging, gunshot, both.

Also, the report tat he wanted time off because he was stressed is BULLSHIT!!!!!!!!!!!!!!!!!!

He requested to QUIT and was given time off to think about it.

THAT IS WHEN HE WAS MURDERED!
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Offline GoingEtheric

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He requested to QUIT and was given time off to think about it.
Is that right? interesting.

Offline Dig

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Is that right? interesting.

THE PLOT THICKENS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Here is the first story I saw mentioning him wanting to quit for a long time, it contradicts with the AP story that is broadcasted everywhere about mysterious neighbors saying he should quit because of stress abnd Kellermann supposedly said "no, I want to stick it out".  Remember that the DC Madam was targeted for extermination once she made it known that she was leaving the business:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


Freddie Mac Official Spoke of Resigning
David B. Kellermann (Via Bloomberg News)
http://www.washingtonpost.com/wp-dyn/content/article/2009/04/23/AR2009042302463.html?hpid=sec-metro
By Zachary A. Goldfarb and Jonathan Mummolo Washington Post Staff Writers  Friday, April 24, 2009


The day before he was found dead in an apparent suicide, Freddie Mac Acting Chief Financial Officer David B. Kellermann discussed his possible resignation with top executives because of the stresses at work, according to several sources familiar with the matter.  Instead, company officials suggested that Kellermann take the rest of the week off and said that they would have further conversations about his future, two sources said. Kellermann agreed, they said.  It is unclear why Kellermann apparently took his life. Kellermann, 41, who was found by his wife in their Fairfax County home early Wednesday, left no note, law enforcement sources said. The Securities and Exchange Commission and FBI have opened investigations into the death, which one source described as routine when a chief financial officer of a prominent company dies or resigns.

Kellermann had been strongly considering quitting the company he had served for 16 years, sources said. But a person familiar with the matter said Kellermann was also worried about how resigning would look to the public -- whether it would appear to be another defeat for Freddie Mac, which was seized by the government last fall amid crippling losses.  Sources said he had hardly seen his family, including his young daughter, in recent months. He had been consumed at work by a growing number of challenges, said the sources, who include a law enforcement official and others with first-hand knowledge. They spoke on condition of anonymity because of the sensitivity of Kellermann's death.  The challenges included a disagreement with the company's regulator over disclosing certain information to investors. Kellermann wanted to ensure that the company would properly dis close required financial information, according to a source. He had spent years helping design its internal accounting system after major earnings irregularities earlier this decade.  He also felt the weight of an imminent quarterly filing with the SEC, a source said.  This week, Freddie Mac hired a high-level consultant to help Kellermann with the myriad accounting questions he faced, a person familiar with the matter said.

One source said Kellermann had informed Freddie Mac management on multiple occasions during the past months that he wanted to resign. Other sources familiar with Freddie Mac said that although there were discussions about Kellermann leaving the company, they were not aware of any resignation letters.  Kellermann spoke with Freddie Mac Interim Chief Executive John Koskinen on Tuesday, and Koskinen tried to help him through the pressures he felt, according to a person familiar with the matter. They looked at Kellermann's calendar and decided that he could take time off.  After talking with Koskinen, Kellermann had a conversation with Freddie Mac's senior human relations executive, Paul George. Kellermann then decided to take a week off, and he delegated his responsibilities to two subordinates.

~~~~~~~~~~~~~~~~~~~~~~~~~~

But now when you search for information about him wanting to quit you get 5,000 repeaters of the same AP article:

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Freddie Mac CFO David Kellermann found dead
http://www.nj.com/business/nj-real-estate/index.ssf/2009/04/police_investigating_death_of.html
by The [Rothschild controlled] Associated Press  Wednesday April 22, 2009, 12:57 PM

WASHINGTON -- David Kellermann, the acting chief financial officer of money-losing mortgage giant Freddie Mac, was found dead at his home early this morning in what police said was an apparent suicide. The Fairfax County police responded to a 911-call at 4:48 a.m. at the suburban Virginia home Kellermann shared with his wife Donna and five-year-old daughter Grace. The police would not release the exact cause of death, but spokesman Eddy Azcarate said Kellermann's body was found in the basement. Freddie Mac's corporate offices are seen in McLean, Va. David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home today in what police said was an apparent suicide. Kellermann, 41, lived in Hunter Mill Estates, a well-off neighborhood of large single-family homes with manicured lawns. County records show Kellermann's home is worth about $900,000. Paul Unger, who lives across the street from the Kellermanns, called the family a "solid, salt-of-the-earth kind of family" that hosted the neighborhood's Halloween party. "He was just a nice guy ... You cannot imagine what kind of pressures he must have been under," Unger said.

Some neighbors said Kellermann had lost a noticeable amount of weight under the strain of the job, and some said they suggested to him he should quit to avoid the stress. The neighbors did not want to be quoted by name because they didn't want to upset the family.

Kellermann, a University of Michigan graduate who went to business school at George Washington University, worked for Freddie Mac for the past 16 years and was named acting chief financial officer last September when the government seized control of the company and ousted top executives. Freddie Mac lost more than $50 billion last year, and the government has pumped in $45 billion to keep the company afloat. Kellermann's death is the latest in a string of blows to Freddie Mac, which owns or guarantees about 13 million mortgages and us the No. 2 mortgage finance company after sibling Fannie Mae. The company has been criticized for financing risky mortgage loans that fueled the real estate bubble, and its first government-appointed CEO, David Moffett, resigned last month after six months on the job. As the company's financial chief, Kellermann was working on the company's first quarter financial report, due at the end of May, with federal regulators closely overseeing the company's books and signing off on major decisions. That relationship has been tense at times. Freddie Mac executives recently battled with federal regulators over whether to disclose potential losses on mortgage securities tied to the Obama administration's housing plan, said a person familiar with the deliberations who was not authorized to discuss the matter publicly.

Federal prosecutors in Virginia have been investigating Freddie Mac's business practices. But two U.S. law enforcement officials, who spoke on condition of anonymity because they were not authorized to discuss the Freddie Mac investigation, said Kellermann was neither a target nor a subject of the investigation and had not been under law enforcement scrutiny. News of Kellermann's death came as a shock to employees of the McLean, Va.-based company, with those who knew Kellermann tearing up this morning and a quiet mood prevailing. Senior executives at the company heard the news on local radio before going to work. John Koskinen, the company's interim chief executive, said in a statement that Kellermann, "was a man of great talents .... His extraordinary work ethic and integrity inspired all who worked with him." Treasury Secretary Timothy Geithner said in a statement that "our deepest sympathies are with his family and his colleagues at Freddie Mac during this difficult time." Freddie Mac and sibling company Fannie Mae have both come under fire from lawmakers as they plan to pay more than $210 million in bonuses through next year to give workers the incentive to stay in their jobs. Kellermann was in line to receive retention awards totaling $850,000 over the next year.

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Notice how the part in blue goes into specifics including meetings with HR that must have associated documentation.  Notice how the part in blue includes unidentified and public record accounts whereas the part in red only includes unidentified sources that want to be anonymous because they do not want to hurt the family? In addition do your own search and see how many times the red article comes up compared to the blue one (could be because it is two days old, but it should be revised with the new info-AP has not done that yet as far as I know).
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline stymo1

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You'll have to make an account to use the search feature. Here's a list of Kellerman's threads on www.tickerforum.org He was apparently not a well like member there....

FNM FRE set to buy more mortgages     NotSoBreaking     Blumunki     2008-03-24 14:26:26
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-24 13:52:12
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-24 13:42:55
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-24 13:38:12
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-24 13:33:57
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-24 13:32:05
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-24 13:22:55
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-23 21:30:46
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-23 15:04:15
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-23 11:41:53
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-23 10:57:24
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-23 09:30:53
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-23 05:55:05
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-23 06:12:05
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 20:22:53
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 19:37:41
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 19:26:43
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 18:58:37
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 18:55:26
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 18:31:08
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 18:25:11
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 18:22:12
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 17:50:23
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 17:34:47
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 17:27:05
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 17:02:28
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 17:16:15
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 17:15:23
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 17:14:20
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 16:48:56
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 16:05:47
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 16:54:49
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 16:52:48
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 16:21:08
Jumbo Red Herrings and today's FNM rumor    Lenders    Blumunki    2008-03-22 15:37:36
FNM up ?    General    Blumunki    2008-03-22 15:11:36
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 15:09:28
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 14:01:25
Bailouts.    General    Blumunki    2008-03-22 11:54:50
Bailouts.    General    Blumunki    2008-03-22 11:23:35
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-22 09:42:58
I am walking away.........    General    Blumunki    2008-03-21 17:51:35
Dick Bove, Bear Stearns, and Controversey    Ticker    Blumunki    2008-03-21 15:43:33
I am walking away.........    General    Blumunki    2008-03-21 14:01:09
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-21 06:32:09
I am walking away.........    General    Blumunki    2008-03-21 06:27:41
Talked to my banker friend today    General    Blumunki    2008-03-20 21:06:25
I am walking away.........    General    Blumunki    2008-03-20 21:03:50
I am walking away.........    General    Blumunki    2008-03-20 20:59:01

Talked to my banker friend today    General    Blumunki    2008-03-20 20:56:01
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 20:40:11
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 20:19:59
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 20:12:04
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 20:00:00
Talked to my banker friend today    General    Blumunki    2008-03-20 19:53:41
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 19:44:31
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 19:24:26
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 19:19:55
I am walking away.........    General    Blumunki    2008-03-20 19:14:31
Talked to my banker friend today    General    Blumunki    2008-03-20 19:04:44
Talked to my banker friend today    General    Blumunki    2008-03-20 18:52:03
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 18:48:09
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 18:46:54
I am walking away.........    General    Blumunki    2008-03-20 18:28:58
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 18:22:14
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 18:18:55
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 18:03:13
Talked to my banker friend today    General    Blumunki    2008-03-20 17:49:32
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 17:45:26
FNM FRE set to buy more mortgages    NotSoBreaking    Blumunki    2008-03-20 17:15:51
Talked to my banker friend today    General    Blumunki    2008-03-20 17:07:35
Talked to my banker friend today    General    Blumunki    2008-03-20 17:03:53
I am walking away.........    General    Blumunki    2008-03-20 16:40:27
I am walking away.........    General    Blumunki    2008-03-20 15:20:21
I am walking away.........    General    Blumunki    2008-03-20 14:53:24
I am walking away.........    General    Blumunki    2008-03-20 15:01:43
I am walking away.........    General    Blumunki    2008-03-20 09:03:14
I am walking away.........    General    Blumunki    2008-03-20 07:54:52
I am walking away.........    General    Blumunki    2008-03-20 10:18:49
I am walking away.........    General    Blumunki    2008-03-20 09:50:44
I am walking away.........    General    Blumunki    2008-03-20 07:38:38
I am walking away.........    General    Blumunki    2008-03-20 06:55:44
I am walking away.........    General    Blumunki    2008-03-20 06:02:51



I know what I will be reading tonite. Unless someone else has already looked into this.
Has anyone done any looking to see if this is him?
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Offline GoingEtheric

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THE PLOT THICKENS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

yeah, it is starting to sound like the dc madame. He starting to sound like a guy who was trying to preserve himself. Maybe his sense of obligation to the company's shareholders was too much for someone to risk.

agreed. 'hurt the family' = retarded, bogus, etc.
They're gonna have to tell us what he died from EVENTUALLY. Why conceal the cause at all?

Oh right, the family.
Thanks for the post, I'm lazy.

Offline Dig

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New Freddie Mac CFO gets huge salary to stop him from also being suicided
« Reply #127 on: October 03, 2009, 02:33:33 pm »
ALL BUSINESS: Generous pay for new Freddie Mac CFO
http://news.yahoo.com/s/ap/20091002/ap_on_bi_co_ne/us_all_business/print
By RACHEL BECK, AP Business Writer
Fri Oct 2, 12:34 pm ET

NEW YORK – The pay package given to Freddie Mac's new chief financial officer should have sent a message from Washington to corporate America about how executive compensation standards must change. Instead, it did just the opposite.

The government-controlled mortgage finance company is giving CFO Ross Kari compensation worth as much as $5.5 million. That includes an almost $2 million cash signing bonus and a generous salary that could top $2.3 million.

The Federal Housing Finance Agency, which oversees Freddie Mac, approved the pay package. A spokeswoman pointed to a statement that justified the agency's approval of the pay, which was done in part because the amount was comparable to what others in the financial services industry make.

That way of thinking is exactly what helped feed the surge in executive pay over the last decade. Everyone wants to make at least as much, or more, than their peers.

Freddie Mac is not just another company. It's alive today, and nearly 80 percent owned by the government, only because almost $51 billion in taxpayer funds were pumped into it over the last year. More bailout money also may be needed in the quarters ahead as losses from its troubled mortgages mount.

Outside pay experts are outraged. "We are in a period when this shouldn't be acceptable," said Paul Hodgson, a senior research associate at The Corporate Library, an independent corporate governance research firm. "Even if pay is competitive to the market, that doesn't make it OK today."

Lawmakers, regulators and corporate directors have spent the last year talking about how to "fix" executive pay following the outcry over what many Americans deem as excessive compensation.

Banks have come under fire for paying top executives big bonuses, which many see as encouraging excessive risk-taking and a focus on short-term results. The Obama administration also has proposed giving shareholders of all public companies a nonbinding vote on compensation.

Financial companies that receive bailout funds under the $700 billion Troubled Asset Relief Program, or TARP, are bound by rules on compensation. So long as they hold the government money, they can't pay cash bonuses to top executives, retention awards to top managers or stock compensation subject to performance-based vesting.

Freddie Mac doesn't have to follow those restrictions because its government aid has come from outside TARP.

Instead, Freddie Mac and its sibling, Fannie Mae, operate under "conservatorship" of the U.S. government after being crippled by losses last year. That was done because of the vital role both companies play in the mortgage market by purchasing loans from lenders and selling them to investors. Together, they own or guarantee about half of all U.S home mortgages.

The McLean, Va.-based Freddie Mac has been without a permanent CFO for more than a year, when its two top executives stepped down as part of the government takeover in early September 2008. Acting CFO David Kellermann committed suicide in April.

Given the close government control over Freddie Mac, the pay package for its new CFO could have been held up as an example of reasonable compensation. Instead, his pay package doesn't reflect much restraint.

When Kari joins Freddie Mac on Oct. 12, he will receive a base salary of $675,000 and is entitled to an additional $1.66 million in cash for the year. The company said Kari will be paid in installments, but did not specify the timing of those payments in a Sept. 24 securities filing. The company declined to comment beyond the filing.

Kari will also receive performance-based pay at the board's discretion. The target amount for that cash compensation is $1.16 million, but what is actually given to Kari could be higher or lower.

His cash signing bonus totals $1.95 million and will be paid out in semi-monthly installments over the year. That money is supposed to cover what he forfeited in stock options and grants when he left Fifth Third Bancorp, where he served as CFO since last November.

Freddie Mac also said it would immediately allow him to sell his home to the company, waiving a 60-day offer period that is required for other executives. It did not, however, specify which of his homes would be covered; Kari has residences in Ohio, Oregon and Washington State, according to the filing.

No doubt that Kari is an able executive and has a hard task at hand. Before his 10-month stint at Fifth Third, he worked in the executive ranks at the insurance company Safeco and Wells Fargo.

Freddie Mac's regulator, the FHFA, highlighted his qualifications in a statement it made after the pay package was disclosed. The agency said the approval of Kari's pay was done after consulting with the Treasury Department. The FHFA declined further comment, and the Treasury Department didn't return a request for comment.

In its statement, FHFA also said that Kari's hire came at a "critical time for our nation's economy and for the company."

A better approach for Kari's compensation would have been to require him to wait at least three years to receive a bulk of his compensation, instead of allowing him to get as much as 80 percent of it in cash over one year.

"It's that kind of pay package that got us into trouble in the first place, because it encourages short-term thinking," said Richard Ferlauto, director of pension and benefits policy for the American Federation of State, County and Municipal Employees, a Washington-based labor group representing government workers.

At Fifth Third, Kari's yearly salary was $580,000 and he received a $100,000 signing bonus. He also received a restricted stock grant of 20,000 shares and 40,000 stock appreciation rights, both of which would have vested after four years but were terminated once he left the Cincinnati-based bank.

Had he stayed at Fifth Third, he would not have been able to cash out of his equity compensation until the bank repaid the $3.4 billion in TARP funds it received. But Carol Bowie, head of the Governance Institute at RiskMetrics Group, a financial risk management firm, notes that his cash signing bonus at Freddie Mac effectively allows him to accelerate his receipt of equity he forfeited when he left Fifth Third.

Bowie acknowledges that attracting top talent is critically important to a troubled company like Freddie Mac, and supports the idea of executives being paid for their skills.

But she also thinks figuring out what's fair in pay doesn't mean sticking with the bad practices from the past.
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline NWOSCUM

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Re: New Freddie Mac CFO gets huge salary to stop him from also being suicided
« Reply #128 on: October 03, 2009, 03:19:26 pm »
Chaaaaaaaaannnnnnnge! Hope. Yes we can.   ::)
"The receptivity of the great masses is very limited, their intelligence is small, and their power of forgetting is enormous." --Adolph Hitler, "Mein Kampf"