Ben Bernanke

Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.

The British system denied any role for human creativity, and instead argued, that if man merely followed his hedonistic desires, pursuing pleasure and avoiding pain, objective laws would naturally guide society to achieve the best allocation of wealth.