William K. Black, author of The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&L Industry, is a lawyer, academic, and a former bank regulator. He was formerly the litigation director of the Federal Home Loan Bank Board, deputy director of the Federal Savings and Loan Insurance… [Read More]
Bloomberg Interview…It’s Time to Act!
Last week I closed my appearance on Bloomberg TV by announcing a call for an investigation by Congress into the Congressional Commission cover-ups. “So what’s the problem, Richard?” anchor Stephanie Ruhle, of Bloomberg Business asked. I countered back, “the lack of prosecutions as a result of the financial wrongdoings during the financial crisis. And the lack… [Read More]
Are the Fed’s Stressed Enough?
The Federal Reserve Board’s annual stress tests, started in 2009, are complex, time consuming and an exacting process. The goal to determine if the banks have enough capital to withstand the impact of adverse developments and still remain viable. The tests start with the developing and publishing of 3 economic scenarios that demonstrate various degrees… [Read More]
Situational Ethics: Heads or Tails!
Years ago, Stephen Covey commented, “Some say that ‘business is business’ and that ‘ethics and principles’ sometimes have to take a back seat to profits. Many of these same people see no correlation between the quality of their personal lives at home and the quality of their products and services at work.” He may be… [Read More]
Why Are Wall Street Bankers Taking Government Jobs?
In letters delivered to the Securities and Exchange Commission (SEC) this last month, Citigroup, Goldman Sachs, and Morgan Stanley are seeking exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all their executives who are eligible for awards for entering government service, as well as the specific amounts in question…. [Read More]
Shooting the Messenger
It was an honor to be interviewed recently by Neil King and Samantha Early of Deutsche Welle, one of the largest broadcasters in the world. According to their website, they interact with 150 million across the world. On their weekly Worldlink program, they focus on showing the human side of top world stories. The interview was about… [Read More]
The Dallas Morning News: An Unsung Hero
Every once in a while events happen that really get to you. In the last decade I’ve sure had more than my share of these, but I have to tell you, this last Sunday’s article in the Dallas Morning News Business section about the incidents at Citigroup and my role in them, both exhilarated and… [Read More]
Too Big To Fail Survey
Too Big to Fail, a U.S. television drama film was first broadcast on HBO, May 23, 2011. Based on Andrew Ross Sorkin‘s non-fiction book Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—and Themselves (2009), the film received public acclaim and 11 nominations at the 63rd… [Read More]
Why Is Our Government in the Mortgage Business?
We sure don’t want to be, but it looks like we are heading in that direction. “In the name of affordable loans, the White House is creating the conditions for a replay of the housing disaster,” states the caption in a recent WSJ article on the “coming mortgage meltdown.” [tweetthis twitter_handles=”@richardmbowen”]Why are we – oh,… [Read More]
Whistleblowing for Dummies
In the last several months I’ve been posting my opinions about the Department of Justice, former Attorney General Eric Holder and numerous other thoughts about whistleblowing and the 2008 financial debacle; as well as my concerns that Citi and the Too Big To Fail Banks are now heading in the same direction that landed us… [Read More]
