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If people were better informed one might expect to see a few runs on banks but luckily, the average bloke on the street is rather oblivious to the fact that if his bank goes bankrupt as a result of sketchy lending, all his money goes with it. Personally I spend all my money each month and have no savings so if HSBC went tits up I'd suffer for no more than a couple of weeks.
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Most American banks are
FDIC insured. This protects depositors' money, up to $150,000 per account, in the event of a bank failure. If my bank went belly up tomorrow (god forbid), I would not be out of the piddly little amount of money that I have deposited in it. I would only be out of a job I guess, since my bank is also my employer.
Jam it back in, in the dark.
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