who is the lender of last resort in the us
Lender of last resort A lender of last resort (LOLR) is the lender (provider of liquidity), which since the beginning of the 20th century has usually been a central bank, that supplies liquidity to a financial institution or to the financial market in general when it is lacking. The goal is to prevent financial panics and bank runs spreading from one bank to the next from a lack of liquidity. Different definitions of the lender of last resort exist in the literature. A comprehensive one is the following: "the discretionary provision of liquidity to a financial institution (or the market as a whole) by the central bank in reaction to an adverse shock which causes an abnormal increase in demand for liquidity which cannot be met from an alternative source".[1]
Dick's Last Resort Dick's Last Resort teaches its servers to be obnoxious.[2] In addition to the staff, the decor is considered to be "wacky".[6] The restaurant uses picnic-style tables and no tablecloths. Patrons of Dick's are expected to be insulted, or placed in uncomfortable situations. Adult bibs and large, hand-made, paper hats are given to diners to wear during their stay.[7] There are no napkins on the tables: they are generally thrown at the customers by the serving staff.[8]