who under sarbanes oxley, i knew they were legally bound to tell the board can tell investors that there was this fraudulent activity going on. well, i, uh, i got their attention. all right. i subsequently to not to come back to the bank. and this was not a fun time in my life, i imagine not going back to that period. you were clearly a detail person. you were looking at the numbers, the charge, the graphs, the complicated data related not just the economy, of course, but to the banks holdings and loans. you saw this troubling pattern. you went to the banks, executives about it. and the reaction then was well at the beginning to just ignore you. why is it, why is it that they chose to ignore you? because obviously they have access to the same kind of information that you had.

you are the one who are supposed to, who is supposed to be sort of the, the, the analyst for them. so why, why did they just dismiss you in? no one could argue with what i was saying. these are just technical exceptions. you know, there's no fee, but this is donnie. you know, we're gonna have watches on this. and of course this was while the bubble was still expanding and you have those losses. and i said, okay, if it's, if it's simply a policy issue, it's technically against department change, the policy was i couldn't do that. but the real reason in hindsight, john is this was a very boss suitable business model of buying defective mortgages and selling them. and by the way, this wasn't just was, this was with other mortgages. the other mortgage companies were doing this to on

a very wide spread stages. and this was drawing off from men, this amount of incentive compensation that went into all of the managers pockets. so if they were going to take any action on what i was yelling about, they would've had to have each in shut down this very profitable business model. and of course, you know that that would have personally been pretty honors to, to some of the executives in law. so they, they like to see, continue collecting money and ignore me. but i wasn't through what city? well i'm, i'm curious when things began to turn for you personally. you are providing information based on years of experience and analysis of the data that could potentially have saved citigroup billions of dollars. but as often happens with

whistle blowers you were silenced, you were essentially suspended and thrown out. at what point did that happen when citigroup turned on you? were things already going down the drain economically? or was this still at the, at the height of the bubble as you said? and this was still really at the height of the bubble. why did it get it? not completely turned. yeah, it was, it was starting to and um, you know, if uh, if anyone paid any attention to what i was talking about, you know, the numbers were climbing the delinquencies. uh, uh, you know, the 1st payment, the falls. uh, they were going up again at him fully hit yet, but there was no doubt where this is gonna be, at least here. let's talk about your mindset. at the time, you had been paid to do a job to advise the bank based on the economic data. you had done exactly that.

your 1st ignored and then actively punished. when did you decide? all right, i've had enough. i'm going to go to the authorities and, and this is really for my own edification. did you consider yourself to be a whistle blower at the time? no, yeah, no, i didn't know what i learned as it was obvious, this was going to blow a walk. it was my responsibility. i took this very personally that i needed to warn them. i mean, that was my job. i was a business chief of the wire. and after they had thrown me out and i wanna end up, that's one. i want to know. this is, this has got to be stopped before it, you know, really clauses have it in the car. and that's when i went and i testified for 2 days while before cc in washington, um i actually gave them and this was in july of 2008.

i actually gave them a 1000 pages, documents showing the man sheep for that was going on within the city. and these, these young prosecutors in the right and for some of the vision they got really excited me and i and we are going to show this. and then 3 months later i, then i never heard anything from them. 3 months later was when citigroup was bailout in 3 separate bailouts, where they received close to $500000000000.00 in capital in toxic asset guarantees. plus they received another $2.00 trillion dollars of secret low interest loans on the federal reserve. we never for the matter about that 2 years like my and at the end of the united states government took ownership

. i know they did not nationwide, but they took ownership of 36 percent of the world's largest bank. and the fcc has refused that they've locked up my testimony. they've really been in there. so there been many request under the freedom of information act to release some of the, you know, testimony that i gave them and they have totally refused saying that the documents are confidential and trade secrets. so i guess that includes the fraudulent representations which were given to the purchasers of mortgage backed securities, which the s e sease on public website, where the securities were registered. richard,

please stay with us. we're speaking to sitting group whistle blower. richard bowen about his actions during the economic crisis of 20082009. stay tuned. we have a lot more to come. 2 2 the the good to buy the yeah. or share enterprise level they're showing up on sort of thing is the most let's see for sure don't cry and skim.

funny mean let's say that what was the gt managed jo, you follow up with some stuff i chose for cvt the take a fresh look around his life to lie to school so it gives him just a shifted reality distortion by how us tired vision with no real opinions fixtures designed to simplify will confuse who really wants a better wills, and is it just as a chosen few fractured images presented as 1st?

can you see through their illusion going underground, can the little one? no, no, no, no, no, not for to most of the location of the unit 731 was a unique organization in the history of the world. what they were trying to do was to simply do nothing short and build the most powerful and most deadly biological weapons program that the world had every now through you know, to production with it. so i guess it was the great

deal to bring it suddenly, a little bit through here to keep a move model mazda thought this might need some more of a problem though i'm, i got the sale. i don't understand. i've wished enough to go to like, oh, need. i know he gave him some more or less than a to you it's i had to put on with this kind of them of the a party bill because you cannot push the hours. so that's good to go. if you want to fund this to should buy a new on it site isn't more simone gauging thought on the on the, on the ticket bus together. the welcome back to the whistle blowers. i'm john to reaku. we're speaking with city group west of lower richard bowen,

who tried repeatedly to warn the bank bad prime and subprime mortgage loans, could sink of the company. as the economy began to slow, he was ignored and then punished for his revelations. even though he did it in exactly the way that he was supposed to do it, richard, thanks again for being with us. that. thank you, john. richard, i'm curious as to how far the company went to punish you for your revelations. it seems that so many big companies as well as government agencies simply don't care that we have whistleblower protection laws in the united states. the revelations you made should have been protected by law. so what happened once the company lashed out to you? i know that you eventually went to the government accountability project. one of the most important whistleblower groups in the, in the united states is that when it happened? well the, um, i actually i did not originally go to the

government accountability project. i'm very sorry that i didn't, i wasn't aware of in the beginning. i started out with 2 separate attorneys. and this is one thing i caution everyone about is i get good legal representation. my attorneys are very quickly figured out which side of the bread the butter was on, and it was not my side. and then i was later introduced to the government accountability project, which i know you're familiar with. oh yes, and they absolutely wonderful. when they took over with their marshal and they started guiding me through this, quite frankly, that's one of the reasons i think i survived the ordeal. is because i have the government accountability project on my back. and they have that with their legal

prowess. they they protected me and really i great group of people. yes. yeah. they are. tell us more about your testimony before the securities and exchange commission and then later the financial crisis inquiry commission. at what point in your whistle blowing, did that happen, and what was the reaction from your former bosses and colleagues at city group? well understand i was already gone. why don't i wish i was thrown out? i guess this was in the early, 2008 and i really had no interaction with the with my former colleagues. and quite frankly they um, they were very cautious of interacting with me also because i obviously had quite a stigma with the bank. but you were talking about the c, c, d, if you, you could. if you think about it and you can sort of understand what the fcc was

doing. and this is a, a sad observation. but if they ever did release any of the 1000 pages of documents that i gave to them, then they would basically have to admit that the united states government had full knowledge of the mastery on that was going on within the city group before they pay you the amount and that's why they have continued to cover this up today in spite of many request under the freedom of information act, they still will not release any of those documents. richard, a psychologist to study, whistle blowers have concluded that they have a very highly defined sense of right and wrong. far more highly defined than the general population. but at the same time, people who blew the whistle on wrong doing almost never make of financial come back . how have you fared in the 14 years since you blew the whistle at city?

well, i will tell you the um, i became a professor with accounting at the united at the university of texas a downs. and i attribute that to my sanity to be able to work with these young people. and i am a cpa, i don't have any accounting background and to be only work with these young people in the end. why to prepare them to at least be conscious and aware when they join corporate cultures. and so that is, that is really now i recently retired from the university and i still speak on the subject on ethics. but um, you know, my, my being able to be a professor. i actually was a, was a haven and uh uh,

helped me as i finished up as a matter of fact when i went to the c c. and when i ultimately testified, and we haven't talked about the she had before the financial crisis in for a commission. i was, i was a professor at the university of texas with the balance. excellent. and are what was their reaction like because, you know, it's, it's so often that uh, that really any large organization, including universities, are risk of risk averse. and here they've got a professor who is in the news he's testifying before the securities and exchange committee for commission rather on something that's arguably the biggest economic story of the last 75 years. they were okay with that. they treated you well understand. i never told the university, i didn't tell a few people that i was testifying before the cc. the only time

it was widely known that i had testified was after i had testified the funding and inquiry commission and received all the publicity that went along with that. so in the, in the school has been very, very supporting the, the, the dean of the school of me and it's not, he has been aware of everything that is going on and he has, he has supported me as well as the, the rest of the, the rest of this little, little ministration of it and then some stan, it's been exceptionally rewarding. it truly hash them. i want to tell you about an experience that i had with the securities and exchange commission and i want to get your reaction to it. i was the chief investigator on the senate foreign relations committee from 2009 to 2011. and there was a large scale ponzi scheme that had taken in thousands of americans for billions of

dollars. and so uh, the cc was supposedly investigating this thing. i wanted to at least begin an inquiry up on capitol hill. and so i went to the c. c for a, a, a previously scheduled meeting. they, they wouldn't let me in. now i had scheduled a meeting in advance. i had transferred my security clearance to the cc just so that there wouldn't be a problem, but they would only meet me in the lobby of the building. and then after the meeting was over and i went back to my office in the senate, they emailed me and asked him very politely, if i would please drop my inquiry. i wouldn't. and they went over my head and they called the chairman of the committee who was sitting under john kerry at the time my, my boss. and he forced me to drop the inquiry. what was the reception like for you at the cc? because the, the reason i asked is, the fcc is supposed to be the good guys here. this is what they're,

they're in the position to do to investigate these kinds of allegations. it sounds like you had not such a great experience. i certainly had not such a great experience, but i'd like to hear your side of it. you know, again, from my side of it, they were initially they, they had tremendous initial enthusiasm as again these investigators, these the, some of these were prosecutors in the room for smart division. they got very excited when i was talking to them and going through the evidence that i was giving them and who was only later, you know, very short while later that obviously they received word from on high that they were to drop this and cover it up there there's, that's the only explanation. so really hearing here testimony was, was never made public. know then people or subsequently know now they have

refused continuously to refer to release any of the 1000 pages of documents that i gave to them. and there's been, there's been a number of publications in new york times actually investigated. everything that happened in september of 2013. they actually wrote a full page op add in their sunday edition, explaining what it happened to richard bowen and how he had been muscle. and it was a boy not only as the fcc, but also at the financial crisis and where a connection. and i would like to thank our guests, richard bowen for joining us and thank you to our viewers for tuning in. there are very few people or companies who are publicly opposed to whistle blowing. after all, with the blowing is always in the public interest, but support for whistle blowers is usually the exception. rather than the rule. the economist magazine said many years ago, whistle blowing is good for society,

but bad for careers. it should be good for both. that's where we come in. evidence of waste, fraud, abuse or illegality should be shouted from the roof tops just like richard. but we did. we're right there. wrong. let's keep it up. i'm john kerry. all cool. and you've been watching the whistle blowers until next time. the. 2 2 2 the,

the rushing rage that means tanks or troops crossing the border of the crate. again, sleep there will be no longer we, we hope they wanted to change the situation where western europe is dependent upon the russian guest to a situation. well, western europe is dependent on in g, a. m, or you can guess, and that's it. they did each actually face to be ukraine, the wall. so here we are in, it says in post energy crisis, which leads to the emigration of companies. less industry and this is just the continuation of the

adult. oh, best the website and also an echo bush is divided, giving in the same way as the sub is in that same way as though you've got some time we is that will be a problem. most by the boys, obviously chuck that is that watson has sent me is that all? see i use the question. i mean, you love seeing those or do you live muscles do? if you look on the visual, do wanna call us a gift card dealer post on zillow while it be almost getting used to put value when you do oil change. but you also still, this is done, the newest 3, it says the sisters to god who do what i see these the buses. the

little gear limitation says this tutorial on both of the one woman is wounded overnight. so she training enforced a shell to russian tone in the bell. a girl region, the kids, residential areas with multiple civilian buildings. damage head on the program today. the president of cuba delves into a wide range of issues from his country's historical ties with russia to the challenges the nation faces today. old and an exclusive interview with thoughts today breaks nations as proponents of multi polarity with corresponding views of global economy on proposing to give out the us dollar. first of all of the don't

arise ation. so it's just a foundation for more inclusive, a more mutually beneficial relations on the look at the legacy of, of violent conflict in south africa over a century some $70.00 and people killed in combat and concentration camps during the 2nd war war. and the next ship today, march the 100 and 21st of our street. i'll post the rev your account team to program from today across the world. welcome to the global news front. up here on our team here. training and forces have a chat. the ton of shit back in a, in russia's belgrade region overnight, according to local officials, at least one person, a woman was wounded in the attack. these are some images posted on social media from this. several right is eventually buildings of cars were left damaged by the

shelling. it comes just days after another attack by ukrainian troops on the border area killed, one civilian, leaving. 2 more wounded. local authorities said the shelling target at a refugee center for those fleeing the conflict, so we ma further sides from there in rushes cross nadar region. a large fire broke out a local or refinery, reported to be a consequence of a drone strike. this is the latest on verified footage we have from near the side. according to the officials, no one was injured. the blaze has now been extinguished as well. the cross border ukrainian attacks come less than a day after the russian capital was the target of long range, the premium drones, but damage several apartment buildings in the south west of moscow. the russian ministry defense stated that 5 of the h u a b 's were shot done by our defense systems and 3 others,

how their guidance disabled by electronic war 1st systems. now those drones veered off course, hitting several high rise apartment blocks closing broken windows, but without any explosive destination emergency services were quickly up to see the cities. merced said there were no significant injuries in the incident advisor to the premium president claim he of had put no direct involvement in the drawing strikes, but said it was healthy to watch and predict that even present. it comes to some western culture, some subset that your brain has the right to target russian territory. you trained does have the legitimate rights to defend itself. it has the legitimate rights to do so within its own voters of course. but it does also have the rights to project force beyond this board is the took note of the report claiming allegedly that there are there's some of the drones flying over the region of most call. this is

not really for us to come and we don't know anything about the origins about the details of, of it. the only thing i can recall and repeat is the strong coal by the european union, and not from the russia, not to use such incidents as a pretext for further escalation, present believe that in crane risk strikes that building targets in moscow soon. i'm gonna be very clear, we're gathering information, i'm not going to get into hypotheticals. from here we do not support the use of us, maybe the equipment being used well, rushes and buster to the new essays. the western silence regarding ukrainian crimes demonstrates that she has been given a green light to continue it's tactics. the only thing that pseudo politicians in ukraine takes into account is the position of the west led by the united states, silence and ignoring the atrocities of thugs with yellow and blue insignia is

a kind of indulgence for the nazis to continue the feudal confrontation with the russian armed forces. it's really i don't, it isn't. is it some when you put the west, lead a native narrative under the microscope you keep coming up with these phrases, the escalation, your name. so the claims that it's all about the escalation stilton but my the point themselves a couple weeks ago with the scripted interview with the washington post the escalation. but in fact when you listen to someone like judge pony, you know, he's of right. induces politician who's quite mostly, is not present to them, making polemic comments. so i think for him to say this, i think we should take it very seriously. i think um, typically is signaling to russia to west of, to media in general that the west is about to up the ante up the stakes and it's a and it's will with russian. so what can we expect from the future is indicating, i think cleverly. signaling is that's

a minute to strikes outside of the book. the bullet is on the crate of now to be expected. well, let's start attention now to don't bother us where a local authorities have reported ukrainian militant, striking a pull 3 farms in the loop against republic this wednesday morning, killing 4 civilians and at wounding 16 more. now the neighboring done yet for public meanwhile, is said to have come under $33.00 attacks. only over the past day, again targeted by keir forces. 3 people, including an 11 year old girl, were wounded ortiz. steve sweeney filed this report from the grunt on an 11 year old girl has been wounded in the latest ukrainian attack on a civilian a she was playing with the chickens here when the rocket struck about mid day on a tuesday that i heard.