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April 16, 2015 By Richard Bowen

Engaging Leaders in Responsible Management

Engaging Leaders in Responsible Management
Richard Bowen, Niki McCuistion, and Bill Wallace of Success North Dallas.

“Engaging Leaders in Responsible Management” was the topic for my presentation Wednesday to several hundred business execs and entrepreneurs at Success North Dallas, a high powered networking group run by entrepreneur Bill Wallace.

As you know, it’s a topic I’m impassioned about. I truly believe the lack of responsible leadership, lack of ethics, and the worship of greed that too many companies engage in today is impacting the very foundation of this country. So, I expounded on human behavior, what influences that behavior, and the stories of power, greed, and corruption I know first hand from my Citigroup experiences.

Engaging Leaders in Responsible ManagementI asked, “Did the small penalties the “too big to fail” banks have to pay make a difference in changing their behavior?” No, it’s not about financial punishment; that’s not what changes behavior. In the last financial debacle, 800+ bankers went to jail. This time around, no one has gone to jail, to date.

Some suggest it is the large financial settlements that are a deterrent. Really? Interestingly, it’s been only ten years that Citi paid out $5 billion.

The only thing that acts as a deterrent to future wrong doing is prosecution. The “too big to fail” banks have a stranglehold on this country.

History shows the collapse of every major civilization started with violations of moral codes.

Companies that have a lengthy written code of ethics people sign but are not required to follow are paying lip service to an ethical culture. A culture based on moral, ethical codes of conduct that people believe in and follow are necessary for the economic well being of a company.

Last year, a Deloitte study, “Culture of purpose: A business imperative,” found that two-thirds of employees and executives surveyed agreed that business wasn’t doing enough to “instill in their culture a sense of purpose aimed at meaningful impact.”

For companies to survive and thrive, they must foster trust, respect, and support. And, they must encourage critical thinking, debate ongoing dialogue, and foster transparency. They need to encourage people to speak out. Transparency is sorely lacking in the “too big to fail” banks and the companies that eventually find themselves with a whistleblower pointing out their wrong doing.

I called for a Congressional investigation into the actions of the “too big to fail” banks and asked that they, too, be madder than hell and call their Congressional representative and demand a Congressional hearing into the malfeasance the big banks have perpetrated.  And I asked each to consider how they are running their own organizations. It’s my duty and your duty as a citizen to hold our banks and government accountable.

With truth. And transparency.  And rewarding a culture that engages and respects their employees.

A culture built on ethics and purpose ignites the best people have to offer. It is people who lead a company to its becoming everything it has the capacity to be.

A culture built on ethics and purpose ignites the best people have to offer.[tweetthis twitter_handles=”@RichardMBowen”]A culture built on ethics and purpose ignites the best people have to offer.[/tweetthis]

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Tagged With: Success North Dallas

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Richard Bowen is widely known as the Citigroup whistleblower. As Business Chief Underwriter for Citigroup during the housing bubble financial crisis meltdown, he repeatedly warned Citi executive management and the board about fraudulent behavior within the organization. The company certified poor mortgages as quality mortgages and sold them to Fannie Mae, Freddie Mac and other investors.

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What People Are Saying About Richard M. Bowen

William D. Cohan"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst."

~ William D. Cohan, NY Times Best Selling Author
2017-06-30T10:08:59-05:00
"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst." ~ William D. Cohan, NY Times Best Selling Author
https://richardmbowen.com/testimonials/2556/

Eileen McDonnell"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger."

~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual
2015-02-13T19:51:19-06:00
"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger." ~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual
https://richardmbowen.com/testimonials/711/

Ben Stein"Richard Bowen, you are a star and a hero."

~ Ben Stein, Economist and Political Commentator
2015-02-13T19:50:26-06:00
"Richard Bowen, you are a star and a hero." ~ Ben Stein, Economist and Political Commentator
https://richardmbowen.com/testimonials/712/

Jim Farrell"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving.  The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership."

~ Jim Farrell, Program Chairman, Dallas Chapter, Financial Executives International
2014-12-28T19:48:17-06:00
"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving.  The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership." ~ Jim Farrell, Program Chairman, Dallas Chapter, Financial Executives International
https://richardmbowen.com/testimonials/532/

Dennis McCuistion"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years."

~ Dennis McCuistion, Host of the McCuistion TV program
2014-12-28T19:48:06-06:00
"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years." ~ Dennis McCuistion, Host of the McCuistion TV program
https://richardmbowen.com/testimonials/533/

Betty Garrett"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!"

~ Betty Garrett, Garrett Speakers International
2014-12-28T19:47:50-06:00
"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!" ~ Betty Garrett, Garrett Speakers International
https://richardmbowen.com/testimonials/531/

fred-timmons"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences."

~ Fred Timmons, Chairman of The Texas Society of CPA's
2014-12-28T19:47:22-06:00
"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences." ~ Fred Timmons, Chairman of The Texas Society of CPA's
https://richardmbowen.com/testimonials/530/

Presentation Topics

Playing for High Stakes: The Principles and Practice of Ethical Leadership

Dark Citi: The Story of a Whistleblower

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Now an ethical leadership speaker, Richard Bowen was Citigroup's Business Chief Underwriter during the housing bubble.

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