Matt Taibbi: Obama’s Big Sellout

Matt Taibbi is one of the few commentators in the mainstream media who is not worried about ‘access’ and has, therefore, been free to write much more critically about the economic crisis and reform efforts on Wall Street.

Read about the whole sordid mess here.

Tim Geithner and Larry Summers as the leaders of his economic team.  As smart and qualified as these two are, they are rightfully seen as allied with Wall Street and the anti-regulatory movement.

Read the Rolling Stone piece here.

A bit more here.

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Matt Taibbi on Obama’s Economy

In “Obama’s Big Sellout”, Matt Taibbi argues that President Obama has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway. Rather than keeping his progressive campaign advisers on board, Taibbi says Obama gave key economic positions in the White House to the very people who caused the economic crisis in the first place. Taibbi also points to the ties Obama’s appointees have to one main in particular: Bob Rubin, the former Goldman Sachs co-chairman who served as Treasury secretary under Bill Clinton.
Click above for Taibbi’s video breakdown of his argument in which he identifies the major players on Obama’s economic team, untangles the web that ties them to Rubin and points to how these relationships play into the financial “reforms” the Democrats are currently pushing through Congress. The full story is now available online here. — Rolling Stone