The boring banking concept does not appear persuasive even going by more recent evidence and on several counts. First, recall that during the crisis, we saw the failure of not only complex and risky financial institutions like Lehman Brothers but also of traditional banks like Northern Rock.
What this demonstrates is that a business model distinction cannot be drawn between a utility and a casino; and if it can, it does not coincide with the  BIS Review 152/2009  3  distinction between what has to be safe and what need not be.