There is a difference in kind between fractional-reserve banking and propping up an entire system of banks with a central bank deemed the lender of last resort

There is a difference in kind between fractional-reserve banking and propping up an entire system of banks with a central bank deemed the lender of last resort and that has the special privilege of issuing newly created fiat money and credit. I’m no Objectivist, so what do you mean by “the weird idea that laissez-fairy lifts all up”?