03/18/2010 05:12 am ET | Updated May 25, 2011

Matt Taibbi's 'Obama's Big Sellout': How The White House Is Caving To Wall Street (VIDEO)

Matt Taibbi is not finished with the financial industry.

In a video by Rolling Stone (hat tip to Zero Hedge) that offers a glimpse into Taibbi's forthcoming piece, "Obama's Big Sellout", he details what he sees as the White House's nefarious connections to deregulation champion Bob Rubin.

The very day Obama got elected, he brought in a Wall Street-friendly team, Taibbi says, led by former Citigroup exec Michael Froman, a Harvard classmate of the president.

Froman was put in charge of running Obama's economic transition team and hired James Rubin, the son of Bob Rubin, a former Goldman Sachs chief and Treasury Secretary under President Clinton, to be his number two.

Though he has never actually worked for the Obama administration, according to Taibbi, the Obama administration has long been under the sway of the elder Rubin's philosophy:

"[Bob] Rubin probably more than any other person was responsible for the financial crisis by deregulating the economy [while] in the White House. And he had a major role in helping destroy one of the world's biggest company in Citigroup. He has one of the worst tack records you can find, but he was basically the guy who was the architect of the entire Obama policy. Obama put him in charge of everything. "

Interestingly, Taibbi also points to Citigroup's influence on White House policy. Tim Geithner was appointed as Treasury Secretary specifically because he helped engineer Citigroup's bailout, argues Taibbi.


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