by Donna Del Vecchio

Created on: March 26, 2009   Last Updated: March 30, 2009

In theory the toxic-asset plan is meant to bring back balance for all the banks that are in the red. Yet, removing these toxic assets will only benefit the banks who brought this country to it's knees with their failed accounting policies and procedures.

The assets will be sold to investors who know that they will make much money when these assets somehow mysterily start to show a profit. Who will benefit will be those who have been in the game from the beginning. Banks toxic assets will be sold to other banks, but more than likely they will have a stake in these banks. Who will be monitoring this handover? The government, highly paid executives who know how to turn a profit, or perhaps other countries like China who we are already indebted too will be the winners of this game.

When this toxic-asset plan begins to unravel, we the taxpaying citizens will learn once again that another bailout will be needed. When debts are not paid back we all fail. When a volcano erupts, the citizens to not gather up the ashes and store them for future use. When we balance our checkbook we do not remove an error never to be seen again. We break out the books and do all we can to find the error.

Perhaps instead of opening up more institutions to bury the toxins, our government should figure out how to never let this happen again. The government is for governing, not becoming intertwined in capitalism. Capitalism needs checks and balances and accountability, not government intervention. Banks, insurance companies, corporations when are failing should fail. This is not the Monopoly game. We are not playing with paper money. Yes, people that did wrong should "Go To Jail", yet, people have to realize too that not all of us can by Park Place.

Many companies in the past have come and went. There was no bailout to help them if they failed. When executives made right choices in administrating policies and procedures their companies flourished. That is what makes America the "Land of Opportunity." If people do not want to be accountable for their actions, others should not have to pay the price. The taxpayers are being asked to give more and more for other's failures. We have no more to give. Toxic or not, a company's assets needs to be on their balance sheet. If an American wants to invest in a company they should have the option of buying stock, not being forced to lend their hard earned money to companies who have set themselves up for failure.

The Declaration of Independence and our Constitution does not state that American citizens should bailout the failed policies of our government. Monopolies do have consequences as we have all seen. Hiding the toxic assets is not the answer. The "Catch Me If You Can" game is now in the open. We have all as children played the game of hide-and-seek. Perhaps our government is still acting like children and hoping that the truth will not be found.

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