This still happened as recently as 100 years ago. Con men would set up false banks in small towns and make off with a lotnof money. Lookup Yellow Kid Weil.
Bank owner embezzles for awhile, bank robber shows up, publicly robs the bank, makes off with $1000, bank owner claims $10,000 was stolen. Bank owner now has a reason why he can't give everyone their money back.
So what changed? I'm not concerned with any current bank making off with my money (although I'm more concerned with risky practices leading to them to go under, which is legal and as 2008 proved, the tax payer will absorb).
