It seems the immoral scum that are bankers are back to their old ways.

From the crowded bars of Canary Wharf to the corporate hospitality village at Wimbledon, memories are fading fast. Less than a year after the collapse of Lehman Brothers brought the banking system to its knees, London’s financial community is shaking itself down and getting back to the business of making money. “We are like goldfish,” says Jon Macintosh, a Mayfair hedge-fund manager. “We swim once around our bowl and when we complete the circle everything looks new.”

In the offices of Goldman Sachs staff have been briefed to expect one of its most profitable years ever. Head-hunters also report the return of poaching raids, as banks like Barclays and Nomura hire star employees from firms unable to keep up with the new bonus boom. Barclays alone is paying out an estimated £730m to some 410 of its employees this month after successfully selling its fund-management arm. Dan Roberts and Phillip Inman with additional reporting by Elena Moya, The Guardian.

This is just going to deepen the recession, many parts of the economy are suffering – unemployment is still rising, many businesses are heavily in debt, others are being forced into receivership and Government is heavily indebted. There’s no way the wider economy can cope with a new round of city excesses and the unsustainable financial models that they’re busy dreaming up – which will be little more than elaborate pyramid schemes.

If we let this happened it will be a disaster that will cost the rest of us dear.