Who are We, and Why are We Trying to Help Implement Real Banking Reform?

At this time (January 29, 2016), we consist of four founding members:

  1. Gary Aguirre
  2. William Black
  3. Richard Bowen
  4. Michael Winston

We share a number of common experiences. They explain why we came together to try to implement real reform.

  • We are whistleblowers
  • We proved correct in our warnings when we blew the whistle
  • Our warnings were not heeded
  • We persevered when our warnings were ignored, knowing that retaliation was likely
  • The failure to heed our warnings caused great harm to the public and our firms/agencies
  • We experienced retaliation because we proved correct and refused to be intimidated
  • We have substantial expertise in finance and related subjects, including (collectively), accounting, auditing, and internal control, law, economics, criminology and corruption, ethics, management, underwriting, securities, markets, appraisals, regulation, deposit insurance, investigations, enforcement, litigation, rule-making, and the criminal justice system
  • Most of us were senior managers, each of us has decades of relevant experience
  • We are intensely practical – our careers demonstrate high achievement
  • We are well grounded in theory. We all have post-graduate degrees and three of us are academics. Understanding theory, and its weaknesses, is practical. Collectively, we have substantial expertise in comparative international finance and regulation.
  • We put a high premium on integrity and service to the Nation
  • We are out to save, not destroy, finance as a means of saving the Nation and its people
  • We believe that fundamental change is urgently needed to allow honest bankers to prosper
  • We act and make constructive proposals rather than simply complain
  • We will aid any President of any Party or philosophy who wishes to implement real change to finance and to restore the rule of law to Wall Street

We also have many differences as to the parties and candidates and policies that we, as individuals, support. As a group, we will not endorse any candidate. We are not financially supported or covertly organized by anyone. We came together to (again) “speak truth to power.”