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February 21, 2019 By Richard Bowen

Richard Bowen on WRVO, Syracuse University

Image: Richard M. Bowen responds into mic in studio.
Richard M. Bowen responds to interview questions on The Campbell Conversations.

In November I had the honor of visiting Syracuse University for the Robert Shetterly and the Americans Who Tell the Truth: Models of Courageous Citizenship portraits celebration. This was following the Washington, D.C. unveiling of five portraits of people honored as whistleblowers by the Government Accountability Project (GAP) where I was honored to be one of them.

The week at Syracuse was filled with events and speeches and one of the highlights that week was the interview for WRVO, a local NPR station, with the interview also being available on podcast through ITUNES.

Image: Grant Reeher interviewing Richard Bowen in studio.
Grant Reeher interviews Richard M. Bowen on The Campbell Conversations in November 2018.

Every week Grant Reeher, Director of the Campbell Public Affairs Institute at Syracuse University, leads a conversation with a notable guest whose work affects the public life of the community – as well as nationally-prominent figures visiting the region to talk about their work.

These podcasts are designed to highlight the character of the interviewee so that one learns about the issue being discussed, and also about the person being interviewed, how they got to where they are, and where they might go. Mr. Reeher attempts to go beyond the usual press conference questions and sound bites.

I had the opportunity to talk about what occurred at Citigroup, when I discovered and started issuing warnings, which were ignored, about the defective mortgages which did not meet our credit policy and which progressively worsened; and of how I was asked not to come back to the bank.

I retold the story of my continual attempts to bring this issue to management and the board of directors and yet the bank continued to sell even larger volumes of the mortgages to investors, knowing full well they did not meet policy requirements.

Mr. Reeher brought the conversation to today and asked what I have learned since the 2008 financial crisis. I expressed my opinion that there is still no accountability for fraud, no downside. The public picks up the tab and all is swept under the rug.

I voiced the concern I have that we’re in for another crisis, bigger than the one in 2008. The Fed has made money so cheap to borrow, and higher levels of corporate debt are being packaged into debt securities just as mortgages were. And investors are clamoring for the additional and yet higher yields offered by many of these more risky securitizations.

Sad to say, each one of us is going to be hurt by the fallout. Enjoy the podcast and let me hear from you. What’s your opinion for the economic future of this country?

Should this bill pass?
So it’s about bank mergers, stupid!

Tagged With: #2008, Ethics, Federal Reserve, Financial Crisis, Richard Bowen, The Campbell Conversations

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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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