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Old 05-14-2008, 03:11 AM
Political Guru
 
Join Date: Jan 2008
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Default States Seize Citizens' Property to Balance Their Budgets

The 50 U.S. states are holding more than $32 billion worth of unclaimed property that they're supposed to safeguard for their citizens. But a "Good Morning America" investigation found some states aggressively seize property that isn't really unclaimed and then use the money -- your money -- to balance their budgets.

Unclaimed property consists of things like forgotten apartment security deposits, uncashed dividend checks and safe-deposit boxes abandoned when an elderly relative dies.

Banks and other businesses are required to turn that property over to the state for safekeeping. The problem is that the states return less than a quarter of unclaimed property to the rightful owners.

Not-So-Safe-Deposit Boxes

San Francisco resident Carla Ruff's safe-deposit box was drilled, seized, and turned over to the state of California, marked "owner unknown."

"I was appalled," Ruff said. "I felt violated."
Foreign troops in NYC on 9/11??
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Old 05-18-2008, 11:08 PM
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Join Date: Mar 2008
Posts: 323
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Yes, I had $5,000 confiscated from a bank account I have had since high school. The state said the reason was that there had been no transactions on the account. So they took the money. Just like that. They did tell me I could apply to get the money back in 6 months. Our society is jacked up. And everyone is screaming for Obama, so we can have a larger, more controlling government. It all makes perfect sense.
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