Leaners of Last Resort

Our current situation requires not a lender of last resort, but a spender of last resort, and that can only be governments.

They should be considered treatments of last resort.

This is the doctrine of lender of last resort.

The central bank is the lender of last resort.

The Federal Reserve Board is no longer the lender of last resort, but the lender of first resort.

And what of the Constitution, That bully of last resort?

The United States had become the world s consumer of last resort.

Nor can the government always be the employer of last resort.

So what changed in the last year? First, Europe now has a true lender of last resort.

Traditionally, central banks have been the lenders of last resort, but now they are becoming the lenders of first and only resort.

He is ideally positioned to lead a technocratic cabinet of last resort.

Here too, however, actual military intervention should only be a last resort.

An aid cutoff should be a policy of last resort, not a first strike.

Only central banks typically lenders of last resort lean against the hurricane strength winds.

But it does not have automatic access to a European lender of last resort.

In particular, they did not see the Fed as a lender of last resort.

But, in the last resort, it is voters, not markets, which hold governments to account.

As for Asia s governments, with China in the lead, the US remains the importer of last resort.

The current financial crisis raises yet another problem the lack of a clear lender of last resort.

If these efforts fail, a dissolution of parliament and a fresh election may be the last resort.

Additionally, the central bank acts as lender of last resort to commercial banks considered too big to fail.

What can managers do enlightened managers, hopefully what can they do to make the office a better place for people to work, so it's not the last resort, but it's the first resort?

Only the retail subsidiaries would be permitted to rely on the central bank for lender of last resort support.

Legislation or regulation aimed at restoring faith in the political class should be a last, not a first, resort.

But, unlike banks, they do not have the safety net implied by central banks role as lender of last resort.

Home regulators and lenders of last resort are increasingly worried about their potential exposure to losses in banks overseas operations.

It was not just Europe that benefited from China s willingness to take on the mantle of lender of last resort.

But if the ECB takes over entirely the role of lender of last resort, it will ultimately become insolvent itself.

Heavy handed diplomatic pressure such as threats to exclude Russia from the G8 must be a weapon of last resort.

As a last resort the CDC comes to the rescue with the insecticide naled but, oh, wait, naled is toxic.

Governments brought commercial banks under prudential regulation in exchange for public provision of deposit insurance and lender of last resort functions.

Specifically, the central bank must be ready to act as a lender of last resort when investor panic threatens financial markets.

If the banks are merely illiquid, the Federal Reserve in Washington is ready to act as a lender of last resort.

The longer that European authorities postpone the introduction of Eurobonds, an effective banking and fiscal union, and lender of last resort status for the ECB, the longer the crisis will last.

Without its own currency, the IMF is poorly positioned to intervene with the overwhelming force needed for lender of last resort operations.

And its willingness to engage militarily as an early step, rather than as a last resort, has alienated many around the world.

Cage homes, rooms diced up or subdivided with boards, and the like, used to be the last resort of the city s poorest.

We believe that such measures can be taken only as a last resort and under the explicit mandate of the Security Council.

Governments must use force only as a last resort and identify and agree on clear guiding rules and principles on doing so.

Mr. Kanu (Sierra Leone) said that, given the potentially disastrous effect of sanctions, they should be imposed only as a last resort.

The positions of the relevant regional organizations should be taken account of, and the use of force must remain a last resort.

But it will not be big enough to dispel convertibility risk and hence demonstrate the ECB s credibility as a lender of last resort.

Banks could take on overly risky projects without scaring off investors because the government would step in as the lender of last resort.

But this can work only as long as the US does not follow suit and continues to serve as consumer of last resort.