> When some other part of the financial system endangers whatever mechanism we were using here, will you be back asking why we didn't just keep money in a bank somewhere?

No. The point is that a bank is better than a safe but that diverse assets are better than a bank.

> You're not an expert on managing "FDIC risk" even if you read about it this weekend.

Exactly. And this is why, if you have a critical business dependency you should hire an expert and not ask my advice which the parent poster did.