So what does your own ilk think should replace the Fed as lender of last resort?
The impossible....a sound fiscal policy with balanced budgets and not giving away every penny to special interests, illegals, refugees, fraudulent disability claims, fraudulent health care claims via Medicaid/Medicare, by Congress which isn’t possible, so I guess I’ve answered my own question/changed my own mind. Given the fact that someone like Waters would be one of those members of Congress that are charged with creating such policies.
Well that’s certainly a list of bad things, but all of them involve something that Congress is responsible for doing.
The Federal Reserve has no role in any of that. Their field is our banking system and money supply.