US senator requests investigation into non-prosecution of Wall Street executives

A formal investigation has been requested by US senator Elizabeth Warren into the reasons why no criminal charges were brought against those involved in the global financial crisis of 2008.

According to Warren, 25 cases were referred to the Justice Department for potential prosecution by the Financial Crisis Inquiry Commission, but the cases were not investigated further.

The senator from Massachusetts sent a letter to the DoJ's inspector general Michael Horowitz on Thursday asking for the cases to be reviewed.

"The Department has failed to hold the individuals and companies... accountable," Warren wrote. "This failure requires an explanation."

Warren alleges that the cases involve both actions performed by individuals and corporations in incidents involving Fannie Mae, Citigroup and Goldman Sachs.

The letter referred to the Justice Department's failure to hold any Wall Street executives to account, despite the FCIC having presented strong evidence against them.

"The DOJ has not filed any criminal prosecutions against any of the nine individuals. Not one of the nine has gone to prison or been convicted of a criminal offense. Not a single one has even been indicted or brought to trial."

In a separate letter sent to the head of the FBI, James Comey, Warren also called for the release of information concerning those at the centre of the crisis, which caused economic hardship across the world that persist to this today.

This letter referenced the investigation into Hillary Clinton's emails as being a precedent for additional information to be made public.

"Your recent actions with regard to the investigation of former Secretary of State Hillary Clinton provide a clear precedent for releasing additional information about the investigation of the parties responsible for the financial crisis."