Don't we keep our entire life's savings in companies aka banks that we don’t run, don’t control, don’t buy, don’t administrate, and don’t really understand.
They are much more tightly regulated (legally), and insured, often by governments.
Of course, how you structure your regulatory framework can have adverse consequences, as well (i.e. implicit guarantees by GSEs on mortgage-backed securities). It is further arguable whether or not fractional reserve exacerbates these effects.