In September of this year Massachusetts Senator Elizabeth Warren sent a letter to Michael E. Horowitz, the Inspector General of the Department of Justice, requesting an investigation into why the Obama administration failed to prosecute any Wall Street executives after the financial crash. Warren’s letter pointed to findings by Financial Crisis Inquiry Commission (FCIC), which had provided the Justice Department with 25 cases for potential prosecution. The department neglected to take on any of these cases.
Warren’s letter was sent prior to the election, but it’s an issue that should resonate with the public even more now that Trump has been elected. Goldman Sachs, one of the major symbols of the crash, has enjoyed a mammoth influence on Washington for years, but its footprint is poised to grow even larger if a couple of notable Trump nominees are confirmed. Gary Cohn, the longtime COO of the finance company, will become director of the National Economic Council; Goldman partner Steven Mnuchin might become secretary of the treasury and former Goldman investment banker Steve Bannon has already become Trump’s chief strategist and senior counselor.