The real answer is that you sound like you'd benefit from reading the whole damn article.
So, while standard user can't hack their own cookie for escalation, they can sniff admin cookies to get that escalation. If the cookie is used for authentication or authorization, encrypting it's content is providing a false sense of security, no matter what nifty library you choose or not choose to do it with.
I think the whole article is premised on requiring a level of security that would presume TLS is being used.
The point isn't the relationship between you, Bank of America, and a hacker; it's the relationship between you (a hacker) and Bank of America.