Following, The Wall Street Journal revelations yesterday that Goldman gives its best clients analysts’ tips in advance, Matt Taibbi gets stuck in. Taibbi, famous for, amongst other things, his argument about Goldman being a Vampire Squid on the U.S. economy, twists the knife again on his blog:

Both of these stories have a common theme. The people who are actively innovating on Wall Street are all involved in the business of gaming the system to take advantage of short-term price swings. The people who invest money for the long-term and stick with their investments are punished in this environment.

Oh and the authorities now want a piece too.

The other story he refers to is from the New York Times; this one is about Sergey Aleynikov, who stole Goldman’s high-frequency trading program. The story highlights the use of technology that banks use to make trades in fractions of milliseconds, taking advantage of tiny price discrepancies in the market.