"got greedy and made high risk investments? Can't Google or some company just make their own stablecoin"

Interesting that you contrast "greedy" with "Google". Why would Google want to ruin its own profits by investing in what you call "low risk crap"?

The problem with "low risk crap" is that it pays low interests. If Google were to invest in "low risk crap" then that would drive down Google's margins and profits. This is the opposite of what investors in Google want.

If Google could make large profits running a stablecoin, then they already would have set it up.