NEW YORK ( TheStreet) -- Five years have passed since the financial collapse in 2008, and although investor confidence has improved, it still has a long way to go.

Memories are still fresh for many of when large firms like Lehman Brothers were forced to fold up shop, crumbling overnight, TheStreet's Jeanne Yurman said.

U.S. and global economies fell into recession, and they have fought back out of it -- for the most part -- and new regulations have been installed in the banking industry in an attempt to prevent another financial crisis.

However, "too big to fail" is still alive, according to Nick Colas, chief market strategist at ConvergEx. He said that between the Federal Reserve and U.S. government, he doubts they would both let a major banking firm go under.

Scott Wren, senior market strategist at Wells Fargo Advisors, added that the level of caution from investors has eased a bit, but is still apparent when they make everyday investment decisions.

While many may have their doubts, Yurman added that the banking industry seems to be safer, with higher capital reserve requirements and stricter lending policies.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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