The term “bankruptcy” is nowhere to be found in the Bible. It seems to have first emerged in the late sixteenth century as a concoction of “banca” and “rotta,” which together mean “broken bench.” According to a common historical account, lenders in late medieval Italy set up benches in the market square – the equivalent of hanging out a shingle – and made their loans on their benches. If a lender defaulted, his bench was broken, thus preventing him from continuing to do business. Default ended his lending career.