On blogs, Facebook and Twitter, reaction to Greg Smith’s resignation letter from Goldman Sachs, which was published as an opinion piece in the New York Times today, unfolds apace.

Some see the letter as an elegant indictment of an institution which has been held up as both a poster child - for better or worse - of corporate capitalism. But already there has been a backlash to the backlash. By far the most common reaction appears to be that the letter tells us nothing we didn't already know.