Ihave nothing but contempt for the kind of governor who is afraid…to follow the course that he knows is best for the state; and as for the man who sets private friendship above public welfare, i have no use for him, either.

Gif the public and community loses trust in banks it affects the entire u.s. financial system. in order to keep this type of financial contagion from happening, the fed makes as needed short-term emergency loans, by acting as the lender of last resort. guides and regulates private deposit insurance programs to cover insolvent bank losses. decreases the money supply as acting lender of last resort.