The collapse of a bank as large as the Bank of Credit and Commerce International must not happen again.1 The economic dislocation was enormous; the losses staggering; and the extent of human suffering almost incalculable. A $23 billion bank collapsed with losses estimated at approximately $10 billion. When a bank fails and its depositors are not paid out immediately, they are without the funds needed for such short-term expenses as food, shelter, and clothing. Among the victims in the United Kingdom were people whose businesses failed and who now owe taxes that they are unable to pay because their assets, prudently put aside, were stolen in the collapse.