Did Obama just dump his best friend on Wall Street?

Noam Scheiber wonders:

The White House has certainly styled itself as a bulwark against Wall Street excess. And Wall Street certainly bristles at the populist rhetoric and policy it sees emanating from the administration. But, as we reach the endgame on financial reform, just how frayed are Obama’s ties to the industry, really? When you consider the story of how the White House has treated its best friend on Wall Street, the relationship begins to resemble nothing so much as a high school romance. It turns out even the best friend doesn’t know if he’s been dumped.