Leader: How much lower can the banks sink?

The sheer brass neck of the banks is unbelievable.

After going through a short period of play-acting contrition, they are up to their old tricks again.

Even the most thick-skinned banker must have realised that they have fallen catastrophically in public esteem in recent years. A time, you would think, to strive to keep your nose clean and rebuild your reputation.

Instead Barclays has been fined £290 million for trying to manipulate the inter-bank interest rates and a number of other banks are under investigation for rigging the market.

A lay person does not need to understand the details of what may seem a technical and complicated shenanigans. It is their sense of smell which will tell them all they need to know. It stinks.

This has happened at a time when the banks are supposed to be brought to heel. Some of them have been given publicly-funded bailouts to rescue them from the consequences of their own irresponsibility.

If rigging happens among your local market traders or car dealerships, down comes the law. These are the little people and easy to deal with.

When the whole culture of banking shows itself resistant to reform, some really substantial boots are required to kick some really substantial hind quarters.

Barclays boss Bob Diamond and three other top executives are giving up their bonuses. So their sentence for presiding over this mess is to forgo one of their goody bags.

Meanwhile when ordinary people dare to seek a loan, the bank manager will drag his or her feet, but is lightning fast in hitting them with charges if they go overdrawn.

Recklessness and irresponsibility in the banking sector sparked the economic crisis. Now we know that some bankers will lie to gain commercial advantage.

How much worse can it get?