Matt Taibbi

By Teymoor Nabili in Americas, Business on December 13th, 2009
Photo by GALLO/GETTY

Yesterday I blogged about  Rolling Stone magazine's critique of President Obama, in particular of his financial team.

Matt Taibbi argued that a cabal of bankers, all inextricably linked to Robert Rubin, have forced Obama to fall into line behind a financial policy designed to maintain Wall Street in its current form.

Today, The American Prospect has hit back with "The Errors of Matt Taibbi", in which they accuse him of:

a nightmare of a story [...] a factual mess, a conspiracy theorist's dream [that] doesn't even indict Obama for his real failures

By Teymoor Nabili in Americas, Business on December 12th, 2009
Photo by AFP

It's been coming for some time. That low, background muttering we've been hearing has finally, inevitably, risen to the unmistakable sound of angry complaint; much sooner than anyone had anticipated, the Backlash Express has now arrived at Obama Central Station. 

At the wheel, driving with characteristic manic panache, is Rolling Stone magazine's Matt Taibbi.

What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history.

Of course, among the far right the Obama backlash began before he was even elected. But among those who voted for him, criticism has been offered reluctantly and with qualification, with most people hoping still for imminent closure of Guanatanmo, and Middle East  peace.

But on the subject of Wall Street, Taibbi has given up all hope.