"Banks collapsed because they had crap IT. This is why Bear Stearns has a 20000% increase (yes, percent) in failed trades in the last two days of their life and didn't know about it. Bad IT also let them create these derivatives and have no idea how much risk was actually in them, hell, how much money was in them."

I think you have a good point, but you're stretching it a bit here. Bear Sterns was dead before the last 2 days of their life.