I never understand, why people who already have money, want to have more. Personally, I keep my money at the bank, for days when I will have to spend it (Buying things, going on holidays, etc)
Some people want money to feel safe, or to change their life.
I'll take my 7%+ average over the last 100 years vs the "insured" 0.5% my bank proposes me (which doesn't even pay for what my bank charges me monthly)
It is a fine critism to say that the bank uses your money to invest for itself, and you would rather use your money to invest for yourself; or that you would rather have input in what your money gets invested in for reasons other than financial return.
I'm not sure why you put "insured" in quotes. Do you have doubts about the FDIC?
You get nothing, they get everything