Is banking an inherently immoral profession? History suggests otherwise: The reputation of bankers has never been great through the ages (see Ebenezer Scrooge, Shakespeare’s Shylock). A reputation for unquenchable avarice reached its fever pitch following the global financial crisis. But it wasn’t always so: In Industrial Age Britain, scions of banking families at some of the most well-recognized names in the sector (Barclays, Lloyds, and Gurney) built a reputation as gracious givers and founders of modern philanthropy. Prior to the turn of the 20th century, the role of government did not encompass social welfare.

The slack was picked up by fat cat bankers, according to this riveting BBC documentary (watch, runtime: 59:09).

A peculiar mix of religious intolerance, cultural norms, and the industrial revolution helped drive the giving spirit of bankers. Some of the most well-established names in banking were Quakers, a derided religious sect of pacifists and moralists, who because of being shut out of professions had to turn to trading and finance. That was coupled with the “very Christian” belief that it was easier for a camel to enter the eye of a needle than a rich man to enter heaven. Whatever wealth was attained must, by moral obligation, be distributed. The industrial revolution, which led to a yawning gap in income inequality and widespread poverty, made charity an imperative. The documentary concludes that in our current “get rich” culture, we all bear responsibility for the perceived immorality of bankers and we ultimately get the bankers we deserve.