Ardmore native tapped to head Freddie Mac

David M. Moffett

David M. Moffett

ARDMORE, Okla. (AP) - An Ardmore native has been tapped to run the troubled mortgage-finance company Freddie Mac.

U.S. Treasury Secretary Henry Paulson named David M. Moffett the new chief executive officer on Sunday as part of the Treasury Department's takeover of the Virginia-based mortgage giant.

The 56-year-old Moffett is a 1970 graduate of Ardmore High School and the former vice chairman of US Bancorp.

Moffett holds degrees from the University of Oklahoma and Southern Methodist University.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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