[argc]

Agreed, in the abstract the system is better if people and businesses are more protected from events that are out of their control.

The argument that the system should punish people for not risk averse enough to protect themselves against bank failures is like saying that languages with type checking are bad because they make soft programmers who can't protect themselves, even though the safer system is easier to use, and allows its users to focus on different, more important/business relevant problems.