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October 15, 2015 By Richard Bowen

Whistleblow Wall Street – A Call to Action!

Whistleblow Wall Street – A Call to Action!
Image Source: Whistleblow Wall Street

I’m a firm believer that, eventually, if there is enough of a public outcry, we can make a difference and impact the path this country and our government is taking.

For some time, I have been calling for greater accountability from the large Wall Street banks and have openly questioned why the Department of Justice has refused to prosecute wrongdoing that occurred in the financial crisis. This concern has also been expressed by many other individuals and organizations, including The Other 98% and The Rules, which recently launched a major campaign to encourage Wall Street whistleblowers to come forward when they see wrongdoing within their banks.

The campaign, Whistleblow Wall Street, launched last week in New York City. It is accompanied by extensive publicity which includes its own website and will include billboards, posters, and pamphlets.  There is also a soon-to-be-published op-ed piece in which I participated,  supporting the campaign and the reasons for it. The campaign is also supported by two other whistleblowers, Michael Winston of BofA/Countrywide and Linda Almonte of JP Morgan Chase.

Whistleblow Wall Street – A Call to Action!
Image Source: Whistleblow Wall Street

Fox Business notes that this campaign “comes on the heels of the seventh anniversary of the Troubled Asset Relief Program (TARP), Wall Street’s bailout for the 2008 financial crisis … encouraging bank employees to take action against illegal financial activity.”

Whistleblow Wall Street is taking pretty strong steps to call the Department of Justice to account. This well-funded and well-staffed campaign includes attorneys provided by the Government Accounting Project, so that responses are thoroughly vetted.

If Deputy Attorney General Sally Yates really meant what she said, that the D.O.J. will pursue alleged criminals, “regardless of whether they commit their crimes on the street corner  or in the boardroom…,” then “you’ve got to cough up the individuals.” This campaign is designed to do just that, “cough up the individuals.”

It offers a a safe venue for individuals  to come forward if they don’t get responses from their corporations; if they are ignored, trivialized and marginalized. Whistleblow Wall Street allows them a voice to express their grievance. And, it will be listened to.

It puts the D.O.J. in a position of accountability. It puts them on notice. In effect we have thrown down a gauntlet. As I say in the op-ed piece, those of us who have already blown the whistle are determined to stand behind those who come forward to blow whistles within the federal government’s new regulatory schemes in the hope that one can trust the DOJ’s new prosecutorial comments.

Visit the site. It invites people with a concern or a real grievance to choose a category that matches their concern. It gives bank employees an opportunity to be heard and perhaps the potential for a grievance to be solved before it magnifies into actual whistleblowing.

The success of this campaign may finally allow a little sunshine in so that it, so that we, can transform an industry that is desperately in need of cleansing, especially at the top.

[tweetthis url=”http://buff.ly/1LPidou”]Will Whistleblow #WallStreet transform an industry that desperately needs cleansing? ~@RichardMBowen #WBWS #DOJ [/tweetthis]

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Tagged With: Wall Street, whistle blowing

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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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