I do not believe they are shaking in their boots though...

I agree with you....arrogance is a tough thing to overcome.

Retailers did not fear Amazon....
Blockbuster and Movie Gallery didnt fear Netflix....
The newspapers didnt fear the Internet, in fact they embraced it....
Kodak didnt fear digital cameras...it was a film company after all....

History is littered with industries and companies that overlooked the threat of something new. Perhaps terror would serve the banks well.

Nevertheless, I think you point if validated in that they are going to the same playbook they always do...

Spread FUD
Try to get the government hacks to regulate it
Buy it up

That is the banker model for dealing with something that is a threat.

Thank you for the comment, you gave me an idea for another post.