Publish date:

This is Why Donald Trump Filled His Cabinet With Ex-Goldman Sachs Bankers

A new book reveals why Wall Street matters.
Author:

Even amid the 2008 financial crisis, Wall Street matters for America and the global economy. That's the assessment from William D. Cohan, a former investment banker and author of Why Wall Street Matters. 

"Wall Street didn't just sort of come out of nowhere - it evolved over 200 plus years," Cohan said. "Over time it became the most important center of commerce."

According to Cohan, Wall Street transfers capital between parties to help businesses invest. 

TheStreet Recommends

Cohan also said Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. (GS) Report is a common stepping stone for top economic posts in the government, a theme seen in President Donald Trump's administration.