The National Center for Policy Analysis Financial Crisis Initiative has honored Richard by inviting him to be part of their task force investigating the events which led up to the 2008 financial debacle. The NCPA interviews with Richard are included below.
Richard comments, “I’m deeply honored and humbled to be part of this initiative. NCPA is building a strong reputation as America’s Think Tank, with a strong emphasis on civil liberties and developing and promoting private, free-market alternatives to government regulation and control. Focusing on the causes of this situation, and most especially the egregious lack of ethics and transparency that were at its core, is my life’s mission. I ‘m devoted to making sure this does not ever happen again.”
Attorney General Loretta Lynch has called the behavior of the banks involved in the financial debacle, “a brazen display of collusion,” that harmed “countless consumers, investors, and institutions around the globe — from pension funds to major corporation’s including the bank’s own customers.”
Richard says, “Of the recent criminal felony charges several of the TBTF banks were charged with, what’s tragic is the bankers themselves still do not see their actions as theft.” According to J.P. Morgan’s CEO, Jamie Dimon, “these actions” are “a great disappointment to us” and “we demand and expect better of our people.”
Really? Actions show this is exactly the kind of behavior J.P. Morgan expects of their people.
Better yet is Citigroup’s CEO, Michael Corbat ‘s comments, “It’s an embarrassment to our firm and stands in stark contrast to Citi values.”
Well, I can sure attest to Citi’s lack of values! I’m the former resident expert on that one.
Will keep you in the loop regarding NCPA’s progress. It has some sound experts behind it. Click on the NCPA links below for the video interviews I’m on.
Regards,
Richard
According to NCPA, “the Financial Crisis Initiative is accumulating talent from scholars and practitioners nationwide to finally come to consensus on two central questions of 2008:
What were the major causes of the financial crisis?
What policies can and should be implemented to prevent a reoccurrence?
To answer these questions, the NCPA experts, (including Richard), will focus their attention on how government policy and financial service firms may have interacted. They will pay particular attention to how the lack of ethics and transparency may have contributed to the problems. They will also review past and subsequent legislative and regulatory policies to test their efficacy and value.
Research studies, articles, videos and other means will culminate in two major summits in the spring of 2016, one to be held in Dallas and the other in our nation’s capital. Communicating and advocating sound economic policies should lead to the prevention or mitigation of future crises such as those we recently experienced here and which were exported worldwide.”
(See more at: http://www.ncpa.org/financial-
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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.
