[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?”