When I was in college, I took a number of Econ courses, and I still remember the Macro Econ professor talk about banks failing. This was in the mid 90's. He flat out said that a bank failing is something that just doesn't happen anymore. He pretty much said, you'll never see it happen. This is before they repealed the Glass-Steagall act.

I still remember the mortgage crisis unfold in disbelief that they didn't see it coming. I worked in finance at the time, and I truly realize how fragile businesses (banks, etc.) are, and our trust in a number of things is completely unfounded. We have certain protections now, but I understood at that moment why people my parent's age (born during WWII) and older didn't trust banks, etc.