What Whistle Blower and Former Executive Michael Winston Knows About Bankers Crimes Will Horrify You
http://www.alternet.org/corporate-accountability-and-workplace/what-whistle-blower-and-former-high-level-executive-michael
You may know Michael Winstons story from a series of articles by Gretchen Morgenson in the New York Times, or from a celebrated Frontline episode, The Untouchables, about the lack of prosecutions on Wall Street. He was a Ph.D. who rose to the corporate elite, with stints at Lockheed Martin, McDonnell Douglas, Motorola and Merrill Lynch. He was recruited to mortgage originator Countrywide Financial with the promise that it wanted to become the Goldman Sachs of the Pacific, a full-service global financial corporation.
They talked about the importance of ethics and principles, and they said they heard I was a high-integrity guy, Winston tells Salon, noting his father had a vanity plate that read HONOR. Winston initially succeeded as enterprise chief leadership officer at Countrywide, getting promoted twice in 14 months and building a team of 200 working on corporate strategy.
But he could not ignore the rot at the heart of the companys profitmaking approach.
So now, a successful high-level executive for 30 years, he has been embroiled in seven years of lawsuits with Countrywide and the company that bought it, Bank of America. His determination to speak out against multiple violations of law at Countrywide earned him retaliation, and eventually, he was frozen out of corporate boardrooms, unable to find a new job. He won a jury verdict in his case, but after two and a half more years of fighting, an appellate court reversed the ruling in highly unusual circumstances.