Once again, the Leviathan, that is the State, has proven itself an insatiable creature.
Last week, Vice Chairman of the Federal Reserve Michael Barr and other bank regulators were called to testify before the Senate.
In response to the Silicon Valley Bank failure, the federal agency demonstrated the worst of the American system of governance. The utter lack of personal responsibility combined with their unadulterated willingness to grasp more power was evident.
“I find it concerning though when you all were asked, ‘Would you like to see more powers, more strength?'” Republican Senator Katie Britt pressed. “Every single one of you said yes.”
Britt, the youngest GOP woman ever elected to the Senate, did not restrain her distaste.
“I think this is what people hate about Washington: we have a crisis and you come in here without knowing whether or not you did your job, and you say you want more [power].”
.@SenKatieBritt blasts regulators following the collapse of Silicon Valley Bank:
— Will Hild (@WillHild) March 29, 2023
"I think this is what people hate about Washington: we have a crisis and you come in here without knowing whether or not you did your job, and you say you want more [power/regulation]..." pic.twitter.com/me9tlXKK3I
The Federal Reserve is not the only government institution to participate in this kind of irresponsible gluttony. The endless departments and bureaucracies have been positioned for this very purpose.
More governmental power with less accountability.
When Britt accuses Barr of demonstrating the very characteristic people hate most about Washington, we have to agree with her.
Men in power will never voluntarily give up that power. No matter how great their blunder. No matter how chronic their incompetence.
Rather, they will insist, as the leaders of the Federal Reserve did this week, that the only way to rectify the abuse of power is to give more to those accused of its mismanagement.
And thus, the great beast grows fatter by the day.
The only way to harpoon the Leviathan is through an Article V convention.
Given to us by our Founding Fathers within the framework of the Constitution, it is the best way to slim this greedy, grasping beast, and course correct our nation.
