Sherry Hunt: A True American Hero
Posted by Larry Doyle on June 9, 2012 9:08 AM |
“This case demonstrates that the notion that the bailed-out banks have somehow found God and have reformed their ways in the aftermath of the financial crisis is pure myth,” he says.
“Sherry is an absolutely fantastic lady who knows what she’s doing. She has a conscience. I have the highest regard for her.”
At this point in our nation’s history, America needs some real heroes.
Certainly those who had put and continue to put their lives in harm’s way for our freedom and liberty are true American heroes. What about in the world of finance, though?
There must be individuals in our nation today with the courage and character to stand on principle in the face of illicit corporate interests. I encourage readers to share the names and stories of those whom have honorably distinguished themselves.
Regular readers of this blog know how highly I regard those whom I have elevated into our Sense on Cents Hall of Fame. Among some of the occupants of that hallowed hall are individuals whom I very much consider truly heroic, including: Gary Aguirre, Peter Sivere, and Mark Mensack. I am certainly overlooking many others worthy of public accolade.
On this note and for the benefit of all those who may doubt whether there are people within our large financial institutions who are willing to go right into the belly of the beast and expose the corrupt practices that corrode our national character, I humbly submit the name of another true American hero: Sherry Hunt.
I first touched upon the heroic efforts of Ms. Hunt in two commentaries this past February. If you want to put a little extra bounce in your step this weekend knowing that America still has people of tremendous character within our financial system, please allow me to share Sherry’s story profiled recently in Bloomberg magazine.
Some may think Ms. Hunt came forward within CitiMortgage only because of the potential bounty. Let me remind readers that the bounty was far from assured. Additionally, do not discount how heavy handed and intimidating corporate executives can be when addressing issues of this nature. In reading the article attached below, ponder Ms. Hunt’s position in light of what happened to Richard Bowen who had previously brought massive mortgage fraud right to the top of the bank.
While Citi has already put this situation in the rear view mirror, Wall Street and America need to aggressively pursue serious criminal actions against executives who oversee fraudulent practices. That, my friends, is what needs to happen to root out these horrendous practices. Unless and until that happens, fines paid for frauds exposed are little more than a cost of business.
What does Ms. Hunt have to say?
“I want people to know they can come forward,” she says. “If I can do it, they can do it. We need to change what’s wrong in our own backyards, and that’s how we end up changing the big things.”
Read and take pride in this true American hero, Ms. Sherry Hunt. Do not think for a second that the practices exposed by Ms. Hunt were not going on within many other institutions for a long time. Perhaps they still are.
I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.