> Banks may be greedy but in exchange for their greed they protect my money

...provided tax payers bail them out, at least that has been so in the recent past. So banks dont really protect your money.

There indeed existed regulatory separation and barrier between the risky side and the non risky side. A client of a bank could choose which side to be on. But bankers thought this was too much of an imposition on their creativity. It still would have been fine if the removal of the barrier was not forced on other banks and countries, which I hear they were.