Central banks and regulation: Rulers of last resort econ.

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For good and bad reasons, central banks are being set up to fail

Most political constitutions try to disperse power. In financial regulation the fashion is to concentrate it. America's Federal Reserve is accumulating huge control over the economy and banks. Similarly, Britain's Conservative Party, likely to form the next government, wants the Bank of England to be in charge not just of interest rates, but also the two big tasks of regulation: guarding the overall system's stability ("macro-prudential regulation", as it is known) and the "micro" supervision of individual firms (see "Papers that prosper: True grit"). Does that make sense?- контекст