Ex-Fannie CEO Mudd To Be Fortress Chief

The Wall Street Journal reports:

Private-equity firm Fortress Investment Group LLC is expected to name Daniel Mudd, former chief executive of Fannie Mae, as CEO, according to a person familiar with the matter.

Mr. Mudd, who is on the company's board, would succeed Wesley Edens, Fortress's co-founder and largest shareholder. The appointment would relieve Mr. Edens and his top executives of some management responsibilities, allowing them to focus on the firm's weakened portfolios and future investments. And it gives Mr. Mudd a new act after being forced out as Fannie's CEO when the government took control of the company in September.

If Daniel Mudd can get a job after what he did anyone can!