Dan Mudd Says Goodbye
The government Sunday unveiled a sweeping plan to take over the mortgage finance companies Fannie Mae and Freddie Mac and to use government dollars to prop up the mortgage market, taking unprecedented steps to use the public purse to try to bolster the housing and financial markets.
Here's former Fannie Mae chief executive Daniel Mudd's farewell message to employees, posted Sunday, as read over the phone to staff writer David S. Hilzenrath by someone who has a copy:
This is my final Homesite message to you as the CEO of Fannie Mae. It has been a blessing and an honor to work with you over the course of my time here. I did my best to lead you honestly and honorably, and to fulfill our business and our mission. I will always be grateful for your support, ideas.[sic] and hard work.
I wish you and your families the best. I hope some of the experiences of the past few years will serve you well, and that "how" you did things means as much to you as "what" you did.
In the face of the worst market conditions in our history, we worked longer and harder, and accomplished more, than many thought possible. Today you enter a new phase, and while much will change, much remains the same. There are still millions of homeowners in pain, families with a dream of owning a home, and investors depending on you. Please give your colleagues and my successor your full support because, finally, that is who you are.
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