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tv   News  RT  May 31, 2023 2:00pm-2:30pm EDT

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but there was no doubt where this is going to be, at least 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 up. 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 on the wire and after they had thrown me out and i wanna end up, that's one i wound up. this is, this has got to be stopped before it. you know, really clauses have up in the car,
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right. and that's when i went and i testified for 2 dates while before c c 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 room for some of the vision they got really excited me. and i always, we are going to show this. and then 3 months later i then i never heard anything from 3 months later was when citigroup was bailout in 3 separate bailouts, where they received close to the $500000000000.00 the capital inc. toxic asset
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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 the end of the united states, government took ownership and they did not nationalize it, but they took ownership of 36 percent of the world's largest bank. and the fcc has refused that they've locked up by 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
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securities, which the s e sease on public website, where the security is one registered. richard, please stay with us. we're speaking to city 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, the notice of both, both the models you need to do both of the
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for the weaker the 50 wallace. they need the i'm so sorry. for the 1st phone number the the good to should the yeah or share
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the it is a little nimble. there, showing that on sort of thing is the most let's see, the feel should don't cry and skin funny mean let's say that what was it g e o you follow up with them or so if i to list for cvt slash the
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forward to talking to you all, that technology should work for people. a robot must obey the orders given by human beings accept. we're so charters at conflict with the 1st law show you alignment of the patient. we should be very careful about visual intelligence at the point, obviously, is to create a trust rather than to the job. i mean with official intelligence. we have somebody in the robot most protects this phone. existence is alexis the welcome back to the whistle blowers. i'm john to reaku. we're speaking with city group with of lower richard po, and who tried repeatedly to warn the bank,
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bad prime and subprime mortgage loans could sink 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 now. 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 that happened? well, the, um, i actually i did not originally go to the
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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 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.
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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' in colleagues at city group? well, understand i was already gone when i was thrown out. i guess it was in the early, 2008. and i really had no interaction with the uh, 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 uh with the back. um, but you were talking about the cc, you know, if you, you could, if you think about it and you can sort of understand what the fcc was doing. and
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this is 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 hips full knowledge of the mastery on what's going on with an citigroup 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 fair to the 14 years since you blew the whistle? it city. well, i will try you a um i became
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a professor little county at the united at the university of texas, dallas. and i attribute that to my sanity to be able to work with these young people. and i am a cpa i the 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 it helped me as i finished up, as a matter of fact when i went to the c c. and when i ultimately testified,
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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 without excellent. and 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 did 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
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inquiry commission and received all the publicity that went along with that. so it is the, it, the school has been very, very supporting the, the, the dean of the school of management 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 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 the c c was supposedly investigating this thing,
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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, and 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. uh they emailed me and asked him very politely, if i would please drop my inquiry. uh, 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
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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. know again from my side of it, they were initially they, they had tremendous initial enthusiasm as again these investigators, uh, these, the, some of these were prosecutors in your enforcement division. they got very excited when i was talking to them and going through the evidence that i was giving them and then who is 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, you know, now they have refused continuously to re,
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to release any of the 1000 pages of documents that i gave to them. and there's been, there's been a number of publication 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. it was a boy not only at the fcc, but also at the financial crisis inquiry commission. i would like to thank our guests, richard bohn 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, was 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
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of waste, fraud, abuse or illegality should be shouted from the roof tops just like richard bellwood did. we're right there wrong. let's keep it up. i'm john kerry otto and you've been watching the whistle blowers until next time. 2 2 the a rushing rage, that means tanks or troops crossing the border race again
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we, there will be no longer we, we will they wanted to change the situation where western europe is dependent upon the russian guess to a situation. well, the western europe is dependent on n 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 prices, which leads to the immigration of companies. less industry and this is just the continuation of the adult. oh, best the website most showing that called bush is divided,
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giving in the same way as the sub is in the same way as though you've got some time we is that will be a problem. most by the boys, obviously chuck, that is the watson has sent me a letter o. c. i use the nuclear love seeing the most schools do. if you look for the initial do while i pull up significantly post on the be almost getting used to put value, what do you do origin. but y'all just done, the newest frame says the police sisters to god, who do what i see these the buses,
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the little cute little dyson says this done, both of the process defense ministry says the chechen unit called off. mot this on the offensive in dunbar. know your place, that's the message to the west, from russia as foreign minister during his advocates or he condemns the wife for violating international law and trying to blame others. phasing salutes the idea that the us must not pick china against india as washington tries to convince india to join the nato, plus the line and thousands of people perished in british concentration camps during the 2nd power war in south africa. today on the conflicts anniversary, we recall it's part barrick nature. new k politicians attempts to whitewash the
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brutality. southampton concentration. com said exactly the same mortality rate as existing laws go with the time. so then not a good thing, but where else will people going to live when the use of concentration happens for pm here in moscow when you're watching r t international, i'm your host donald quarter. welcome to the from the our top story, the chechen ok model armed forces even. it has been called to go on the offensive and done boss. according to the russian defense ministry. it's added to that ukraine's last naval worship has also been destroyed in the port of a desolate law. scouts as a high precision strike hit the ship as it was lying in harbor. these are some of the un verified images, allegedly showing the moment of that attack, and our t,
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steve sweeney brings us the latest updates on the successes of russian forces. recent operations of these special operations forces. this is a unit based in a chechnya has starting to make and volunteers against ukrainian to to me. k town of modern cannot. this is about 30 kilometers to the west of a don't yet this is up to the crews will. this is a ukrainian stronghold. i mean, just being used to go to attracts on a civilian navies on residential areas since fighting the gun in 2014. now we also heard the ministry say that ukraine had lost some $200.00 soldiers in the throne, yet region along with a range of military hop. and now this includes uh, a number of, uh ahmed vehicles and transport vehicles. and at least uh, 2 of these uh, multiple lawrenceville, consistence of ever game use so effectively into deadly effect on the civilian populations have. and as we heard in the page that the last ukranian warship has
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also been strong, struck uh some cause rather off. it was struck in a precision strike in the port city of adair. so now it was somebody the in the last 24 hours it russian defense system. which of working so hard to keep the don't boss region save up down to a number. so they said 12 rootkits launched by the us applied high miles system, along with one of the storm shadow is a these are the long range missiles that were supplied by the british government, as announced by the defend 6th street. ben boys in mid may. now this comes is late, just developed. these latest developments come off to at least 5 people believed to be construction, work for killed and at least 19 were wounded in ukrainian. okay. talk on a bulky form in new guns, but the latest developments you can probably have maybe, perhaps shedding. there's been a tax on the residential instability. there is
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a cost on your city today. we've seen smoke billowing, also the real kids have impacted on that target. so these latest developments will potentially bring something for relief for the people of don't pass who of course have come under the 80 attack for the last 9 years. the meanwhile, and the guns people's republic, 5 people have been killed and 19 others wounded. and the ukrainian attack this wednesday, according to local authorities, us supplied highmark rockets struck a local poultry farm and the village of car floppies. here you can see the aftermath and the damage done to buildings, cars and construction vehicles that are believed to be civilian, construction workers. to know the crane and forces also attack the town of it should be. it should be in a, in russia, as belgrade region overnight, at least 4 people were wounded there. and these are some of the latest images from the scene are showing left, several residential buildings destroyed,
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and cars destroyed rather, buildings, damage, and cars destroyed. it follows yet another attack by ukrainian troops on the border area earlier this week, killing a civilian and leaving 2 more wounded when a refugee center for those fleeing. the conflict was targeted. local officials have now begun a mass evacuation of children from several border districts with the 1st group of $300.00 leaving the region today. and other news, russia backs the african desire to find a new equal place in the modern world and profit from its own natural resources. after centuries of exportation by the west, that is the message from russia. as for administer, during his visit to mozambique survey lab, ralph held talks in the south uh, southern african country with top of officials, including the countries president. that's the good news, which it was africa does not want to return to colonial times. it wants to make the most of the natural resources it possesses and not just to trade raw materials that
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have been exported from here for centuries, but to make products that will have added value and being demand. and of course, today's africa is immeasurably more aware of its identity and is increasingly insistently demanding for itself an equal place in the emerging multi polar world order, including through proper and fair representation in the un security council, which russia supports most visits and most of the off chance, i think it's very good this and that show us the changes happening within the national system. because many african countries, since we have visits have taken a position of neutrality when it comes to the country. crazy to succumb to what sort of pressure to impose sanctions against russia, you know, terminate financial and the other souls of deals with the russian federation. but
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they do not know the support for russia. why? because of that. and as this is, you know, demonstrations of africa is no, no african wants to be treated with dignity, respect, it doesn't want to be a rogers in the united nations or wants to take a self interested, constructive role in international affairs. most of the country that has had relationship with most of the ever since 1975. how to apply for an industrial cooperation with the soviet union developing a positive but as a, the leadership communicating that they intend to do so just as much as they intend to develop ties with the brain and many of the western partners on
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a mutually beneficial basis one thing i want to mention is that most of the big itself is no stranger to complete. it seems to vary by the civil war of back in 1998 is still suffering from militant insurgency in the north of the country, but the position of molten because that's all it needs to be stuck through direct dialogue. and this is once again, something that most of the big officials read to write it today that if your premium is to be successful, besides me, to be in direct communication with one another. so do, but assume that we stress the need for the entire international community to seek local solutions to local problems. all precedents emphasize the role of russia in the mediation of numerous conflicts, including the ukrainian conflict. in particular, the chinese initiative emphasizing the need for direct dialogue between countries. he also welcome the efforts of the russian federation to organize the 2nd rusher,
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africa for him, and expressed readiness if necessary to contribute to the establishment of peace and good neighborliness between russia and ukraine. now uh, there was also a very interesting question about the surface by the american investigators to south africa about this trade, a weapon street between south africa and russia. commercial for ministers said that this was an issue all strictly in the restaurant in south africa. comply with international law when it comes to any trade, including military traits. if american ambassadors have any issues of doubts about the to use this sounds, if something was stopped by the american or any other overseas in bassett, or then in general,
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you need to know your place and not get into other people's affairs. as for the topic of armed supplies, i would like to emphasize once again that we never violate international norms, but our western colleagues do violate them. they declare neutrality with regard to the events and ukraine, but pump the country with a huge amount of modern, long range and generally unsafe weapons, including for those who use the, i mean the shelves with depleted uranium to give support to a regime whose official representatives loudly threatened to kill all russians, all of them. therefore, it is probably better for american and passengers to take care of their own image in the eyes of the foreign public. asked about the difference in the russian de watson. he said the reasons why he sent to me is to communicate the russian position, remaining of it's an international partners which is a park crime from once or rather.

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