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

A new book reveals why Wall Street matters.

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. 

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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.