On Wednesday in suburban Virginia the Chief Financial Officer of Freddie Mac, David Kellerman, committed suicide. He is survived by his wife and five year old daughter along with family, friends and colleagues. My deepest condolences are extended to his wife and child.

Today The New York Times reports how Kellerman’s death is emblamatic of the stress facing financial industry workers today. Kellerman worked tirelessly trying to right the wrongs of the US housing industry. Freddie Mac (and sister company Fannie Mae) are juggernauts in the US mortgage industry. Together they own more than 50% of all mortgages in America. Their willingness to buy mortgages provides banks much-needed liquidity - so more homeowners can be extended credit.

In earlier posts I reported the incredible complexities facing regulators, politicians and financial industry workers as they try to stabilise the global economy. We are not out of the woods yet. Instead it’s getting darker and more perilous and there’s no certainty in sight.

What I failed to appreciate was the enormous strain placed on the men and women “in the trenches” of the financial battlefield. People who work night and day then rush home to change outfits and start again. People who have been demonised in the press and editorial cartoons. People who are now entrusted with saving our economy. People like David Kellerman.

For every one of you I want to give my heart-felt thanks. For every hour spent away from family trying to resolve business issues large and small - thank you. For working to solve complex issues caused by others and maybe even yourself - thank you. And for putting up with the constant harangues, derogatory remarks and insults - I am sorry.

Financial workers we need you today like we needed firefighters and policemen and women after 9/11. There is chaos in the markets and we need your steady nerves, experience and knowledge. Thank you.

Finally I would like to thank David Kellerman for working so hard. I am sorry that strain took such a terrible toll.