Matt Taibbi, a favorite of Nation (and other) readers for several years thanks to his hard-hitting, but often humorous, reporting on the crooks and “squids” of Wall Street, and their DC cronies, for venerable Rolling Stone, announced today he was joining First Look. That’s the new media project from Pierre Omidiyar, which has already attracted the likes of Glenn Greenwald, Jeremy Scahill and Laura Poitras.

He will head the financial/economic team and produce the second digital magazine. Greenwald, Scahill and others launched the first, The Intercept, related to the NSA/Snowden leaks and privacy/security concerns earlier this month.

Taibbi’s farewell to Rolling Stone is here. (He learned of his big career break while walking in my native Niagara Falls.) See links to some of his “greatest hits” below. The First Look release is here and includes:

Taibbi will help assemble a top-notch team of journalists and bring his trademark combination of reporting, analysis, humor and outrage to the ongoing financial crisis—and to the political machinery that makes it possible. The magazine will launch later this year.

Taibbi comes to First Look from Rolling Stone, where he served as a contributing editor for the past 10 years. During his tenure, he built a large and devoted following that has grown to rely on his in-depth and irreverent reporting on Wall Street and Washington. Whether busting Goldman Sachs for market manipulation or revealing the hidden roots of the student loan crisis, Taibbi has exposed and explained the most complicated financial scandals of the day with a fresh and compelling approach to journalism that has enraged and inspired millions of readers.

“Matt is one of the most influential journalists of our time,” said Eric Bates, executive editor of First Look Media. “His incisive explorations of the financial crisis—and Wall Street’s undue influence over our political system—have played a key role in helping to inform the public and transform the national debate. He is a journalist who can explain what a credit default swap is and why it’s important—and, make you bust out laughing while he’s doing it. I look forward to having him on our team and helping him launch a dynamic new site unlike any other.”

Just this week I posted an item on Taibbi’s latest piece at my blog. “The Loophole That Ate the World,” as we put it, in describing his angle. Earlier, Taibbi on “advocacy journalists” (that is, all of them). How the bailouts created a “Ponzi scheme.” Of course, we enjoyed it when he went after David Brooks. Then there was his take on a Thomas Friedman sex tape.

Also fun: on Romney and Ryan as the “whitest folks you’ll know.” Oh, and on Sarah Palin, too. Much earlier, Matt criticized Obama’s Wall Street ties. I could go on.