For millennia, bankers have succumbed to the temptation to use depositors' funds for their own benefit. From the earliest days of banking, namely in Babylonia perhaps as early as 3,500 BCE and certainly by 2,000 BCE, bankers who accepted money for deposit and safekeeping recognised that they were thereby assuming important moral as well as commercial responsibilities. Alas, although the principles underlying the irregular deposit contract are hard and clear, human nature is imperfect and weak.
