A billion lost here, a billion lost there … Can we trust the bankers?

When I read the recent notice that very likely no one will be prosecuted for losing a billion dollars at MF Global I began to wonder if we
actually have a meaningful banking industry.  
The last I heard, the amount that J P Morgan has lost in trading has reached “at least $5.8
billion.”  
If no one can be made
accountable for losses of a billion dollars in a bank what hope is there that
we peons can count on our funds being there when we need them?
What kind of world
economy do we actually have?  The one
thing that seems obvious is that the bankers who manage to lose a mere
billion here or there – a matter that Jamie Dimon of J P Morgan called a “ tempest in a
teapot” – are not going to lose out.  It’s
the rest of us that are likely to come up short.