"Well, Both my mattress and J.P. Morgan *could* lose my money. So putting my money either place represents equal risk."
I'm not sure how that metaphor is supposed to work. A few years ago when the U.S. government passed new credit reforms they were time delayed by several months at the request of the targeted banks, supposedly to give them time to carefully update their big and very important computer systems. The reality was the banks used those several months to burn and pillage the assets of people like me. I was in debt, my own stupidty of course, and I probably lost over a thousand dollars in fees alone due to a few financial institutions playing shenanigans with the ragged edges of my account terms.
At the time I thought wistfully of how much more secure my money would be if I could just collect my pay in cash and drive it to my house.