Freddie Mac CEO Moffett Resigns

""Freddie Mac"":http://www.freddiemac.com today announced that its CEO, David Moffett, has resigned from his position of chief executive and as a member of the organization's board, effective March 13, 2009.
The GSE's board of directors is working with the ""Federal Housing Finance Agency"":http://www.fhfa.gov (FHFA) to appoint a successor to Moffett, and said it plans to name an interim CEO before March 13 to assume chief responsibilities once Moffett leaves.
Moffett indicated that he wants to return to a role in the financial services sector. In his letter of resignation, he said, ""I have enjoyed my time as CEO of Freddie Mac and I wish all the great employees the very best in the days to come.""
John Koskinen, chairman of the board at Freddie Mac, said ""We are very sorry to see David go. He made valuable contributions to Freddie Mac as the company transitioned into conservatorship.""
The management team at Freddie Mac also announced that it expects FHFA, in its capacity as conservator of the GSE, to submit a request to the U.S. Treasury to draw an additional $30 billion to $35 billion in capital assistance, following the filing of the company's annual report with the Securities and Exchange Commission (SEC).
Freddie Mac was established by Congress in 1970 to provide liquidity, stability, and affordability to the nation's residential mortgage markets by providing mortgage capital to lenders. Freddie Mac says that over the years it has ""made home possible for one in six home buyers and more than five million renters.""