[Gary]
Cohn, the former economic adviser to U.S. President Donald Trump, gave a
ringing endorsement of Wall Street bankers on Monday, arguing that
borrowers were just as responsible for the 2007-2009 financial crisis as
lenders and ridiculing rules intended to make the system stronger in
its aftermath. . . . Once the No. 2 executive at Goldman Sachs Group
Inc., Cohn argued that no top bankers should have gone to jail for their
role in the crisis because they did not necessarily do anything
illegal, despite what populist movements like Occupy Wall Street have
demanded.Defending
his fellow bankers, who are often blamed for causing and worsening
the crisis, Cohn said borrowers played a hand in their financial
disasters as well.
“Who
broke the law? I just want to know who you think broke the law,”
said Cohn. “Was the waitress in Las Vegas who had six houses
leveraged at 100 percent with no income, was she reckless and stupid?
Or was the banker reckless and stupid?”
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