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 tony, 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 possible 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 this amount of incentive compensation that went into all of the managers pockets. so if they were gonna take any action on what i was yelling about, they would've had to have each again shut down this very profitable business model. and of course, you know that that would have personally been pretty honors to uh, 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, this was still really at the height of the boat. 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. it hadn't fully shipped yet, but there was no doubt where this is gonna be at least heard. 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, 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 wanted to up, that's when i was, this is, this is 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 in 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 always, we are going to show this. and then 3 months later i then i never heard anything from 3 months later was when city group was bailout in 3 separate bailouts. where they received close to the $500000000000.00 in capital in toxic asset guarantees. plus they received another $2.00 trillion dollars per secret,

low interest loan on the federal reserve. we never found out about that to a years like the end of the united states. government took ownership and 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 customer. they were really, it's 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 kremlin has very clear deliveries of at 16 jets because of would be an acceptable escalation. we've heard this form a friend with before, think facts to the weeks before the start of brushes, special military operations. the russians weren't bluffing, and they're not fluffing. now the good to buy the yeah. or share

those little nimble. they're showing that the answer of the thing is the most form. when you see the shit don't cry and skim. funny loving this thing that was easy to manage. yo, you follow up with them. so if i choose for cvt slash 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 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. no, 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 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. 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 when 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. um, but you were talking about the so you see, you know,

if you, you could, if you think about it and you can sort of understand what the fcc was doing. and 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 had full knowledge of the mastery exposure 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 to date . 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 try you a. i became a professor little county at the united at the university of texas at 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, have them and 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 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 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 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 ask 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. 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. 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 senator 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 ask is, 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 under enforcement 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 publication in new york times actually investigated, everything that happened. and 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 cc, but also at the financial crisis inquiry commission. i would like to thank our guests richard bone 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, whistle 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 bo would did. we're right there wrong, let's keep it up. i'm john kerry, aka and you've been watching the whistle blowers until next time the. 2 2 2 the russian rage, that means tanks or troops crossing the border grades, again, there will be no longer we, we will they wanted to change the situation where

western europe is dependent upon the russian guest to a situation. well, western europe is dependent on n g a. m. or you can guess, and that's it. they did each actually trying to be ukraine, the wall. so here we are in it says in post energy prices, which dates to uh, the emigration of companies. uh, less industry. and this is just the continuation of the nato. oh, best, the webs? it also not called bush is divided, 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 10 most by little boys. almost a job that is that watson has sent me is that r o c. i use the

top headlines right now and i'll see international that's russians. defense ministry says the checking shouldn't military unit called a lot. it's been ordered onto the offensive in the past, while in a desktop, russian and forces signed to brains last naval ship. the you commission president, advocates against any ceasefire in ukraine, claiming a peace deal would be against cabins go on stage. something was thought by the american or any other overseas in pasadena. then in general, you need to know your place and not get into other people's affairs. we never violate international norms, but our western colleagues do violate them retros for

a minute. so taking a swipe of western assets you, it's during his tour of africa all hailing independent decision making for the confidence punch the i'm coming to you from the heart of the russian capital. with your news on phil. this is off the international headquarters, the chechen about the forces unit has been cool to go on the offensive and on bass sits according to the russian ministry of defense. it also added that ukraine's last at naval war ship had been destroyed in the port city of a desktop. i must go, so it is a high precision strike, hit the ship, a visa and verified images report lease, showing the moment of the strike. we have more detail. so with the developments denazi's, steve sweeney. it's not 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 come out. this is about 30, could all meant to,

to the west of a don't yet. this is up to the cruise. well, this is a ukrainian stronghold. i mean, just being used to go on to attracts on a civilian navies on residential areas since fighting began 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 harbor. 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 also been strong, struck uh some cause rather off. it was struck in a precision strike in the pool 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 it on

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 6, the ben boys in mid may. now this comes is like 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. i talk on a poultry farm in new gardens, but the latest developments you can probably, hey, maybe perhaps shedding. there's been a tax on the residential instability. there is a cost on yet. city today we've seen smoke billowing off to the real case of impacted on the 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. meanwhile,

and it look at its got 5 people killed and 19 and wounded in ukrainian, showing a local poll tree farm. and the village of capacity was reportedly strong and show you the awesome off and damage done to the buildings. also. vehicles as well as we understand that the belief to be civilian construction workers in the town of shit back, you know, and russia's belgrade region that was also hit over night, at least for people when did, there will show you some old pictures from the scene several residential buildings damaged a cost destroyed. it follows another attack on the border area earlier this week, which step to civilian dead and to more wounded when a refugee center was targeted. local officials have now begun to evacuate children from several border districts, so the 1st group of $300.00 leaving the region on wednesday. but escalating accomplishing ukraine to further involve western countries? what, how the security interest of washington. so it says the us national security council

spokesman john cubby, but he added the us will continue with military a to key of no matter what the thought is. kind of muffin now, fills in the details. a john kirby said. the answer is point, the united states is not a party to the consulate. it is only providing weapons providing training, but it is not interested in directing your brain weird target or into attack. now at this point, he did also mentioned that the united states as counseling ukraine, but he didn't describe exactly what that entails. the u. s. a does not want to know who conducted strikes against the ground one, and it turns a blind eye to us provided weapon rate it is now being used on russian territory. here's what he said president. so when skiing is military commanders decide what they're going to do from a military perspective and they decide what they're going to do with the equipment that isn't provided to them. and that the, you know, all that said,

we have been very clear with the craniums privately. we certainly been clear publicly that we do not support attacks inside russia. and we do not enable and we do not encourage attacks inside russia. we seen the ukrainian denial that they didn't seem to do. you're talking about the drug sake on the apartment building in moscow. so we refer you to the korean government to speak to that we don't have any specific information that tells us who is responsible and it's not like we're going to go out and investigate this. and you know, it's not that that wouldn't be appropriate for us to do now. when speaking john kirby also remarked that the united states opposes a tax on russian territory because. ready wants to quote, avoid. ready world war 3, however, he added that despite the debt ceiling crisis in the united states, there was no question the us aid. we'll continue to flow. oh,

do you crank and ask for the, the dead ceiling as the, the deal of it. it won't, don't have are what happens in the halls of congress. there won't be in effect on our ability support ukraine. though as we heard from john kirby, he expressed the fact that the united states is going to continue to arm ukraine. provide them with the training exercises council, but insisted that the united states is not overseeing and is not responsible for the actions of the ukrainian military that they then carry out with this training asked with use an exercise. ready with this counsel from the united states up quite a bit, quite an interesting case, john. courteous trying to make here saying that the united states is going to remain heavily involved in facilitating the conflicts and the grain, but should not take responsibility for being directly involved. the prime minister of georgia has blamed nato expansion for the conflict and ukraine saying it triggered an escalation in the 1st place. i think everybody,

everybody know the reason i'm not sure i do. what do you think it is? i think you know it well. and the, the audience knows it. one of the main reasons would need to write nato enlargement, right. and many of the reasons you think that nato enlargement provokes the war. well, i don't want to speculate okay, and i don't want to quote the statements of the russian government. but one of the reasons was he agrees with determination to become member of nato. and so therefore, we see the consequence of this quite a long history of tension. and with a rupture of a 2 territory dispute. so the 2 countries originally resumed direct flights off for a long absence and sealed a visa free travel agreement. that provoked a skeptical response from the west. with both the you and united states already

critical of the blue sea for not in joining the sanctions against moscow. meanwhile, t f, as the last out of the new comments of the georgia and prime minister it is very disappointing, 3 grain now to hear such messages. we are very sorry for georgia, which is now in a situation where the top government officials can make such statements for my children. i'm here to move it up myself. i'd say believes the west wanted to provoke, oval as russia had continuously wanda, by the unacceptability of nato expansion near its borders repeatedly calling those red lie. i'm afraid it will upset it. no problem. that's really was absolutely right because we all know that the were in ukraine behind. it was the desire of nature to expand the territory at the expense of ukraine. to be honest, the same thing happens in 2008 in georgia. we're all know that need to expansion is unacceptable to russia. that's is, if the neighbors do not understand the depth of their neighbors security system,

then why should not expect all the results from the neighbor? because neighbors should be treated with great to understand in georgia, had shared security with russia. the same thing happened with ukraine, made his approach through russia's borders. everyone knows all over the world that this was absolutely unacceptable for russia to move forward. so then further, everyone understood how this would and interest and the world with russia was naturally more the body of the west. there for the prime minister, spoke briefly. but to the point there must be no cease fire in ukraine. that's what you.