Whistleblowers Richard Bowen and Michael Winston, along with UMKC’s Bill Black, discuss the rampant fraud at Countrywide and Citigroup and how today’s high foreclosure rates in states like Nevada could be a sign of what’s to come Story Transcript JESSICA DESVARIEUX, TRNN: Welcome to the Real News Network. I’m Jessica Desvarieux in Baltimore. Here at […]
Author Archives: Richard Bowen
Richard Bowen was a former Business Chief Underwriter for Citigroup, where he monitored the credit quality of over $90 billion annually of purchased residential mortgage loans which were put into mortgage backed securities. Beginning in 2006, he repeatedly warned management about the potential losses and ultimately warned Citi's board of directors, requesting an outside investigation. Richard testified before the SEC, with his testimony before the Financial Crisis Inquiry Commission being nationally televised. He story has been reported by all of the major media, and his 60 Minutes story, "Prosecuting Wall Street" has been re-aired eight times.
