But even though the CBs was in existences at the time of the Global Crisis of 2008/9, they could not have prevented that crisis. In fact they looked completely unprepared for that even. Question Do we...

But even though the CBs was in existences at the time of the Global Crisis of 2008/9, they could not have prevented that crisis. In fact they looked completely unprepared for that even.

Question

Do we really need a Central Bank in our Country?

If they are so important to the fiscal and monetary objective of any country, why have their roles as a financial watchdog as it relates to several economic crisis, open more suspicion. In fact they seem most of the times totally unprepared to deal with the pending economic fallout? Many will argue as well that the CB seem to be more reactive rather than proactive. Critically discuss.