On the other hand, as the lender of last resort only the Fed can inject money into virtually any type of firm; it might be good to give it corresponding authority to prevent abuse, too.

Not content with that, they switched at once from scalpel to syringe and started to inject money into the economy through "quantitative easing" -buying assets with freshly created central-bank money.

Worries of a credit squeeze have prompted central Banks in the U.S., Europe, Australia and Japan to inject billions of dollars into the money markets to raise liquidity and market confidence.