States Seize Citizens' Property to Balance Their Budgets

States Seize Citizens' Property to Balance Their Budgets

abcnews.go.com

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.

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.

(visit the link for the full news article)

This is unbelievable. How can hey get away with this?

Unknown? Carla's name was right on documents in the box at the Noe Valley Bank of America location. So was her address -- a house about six blocks from the bank. Carla had a checking account at the bank, too -- still does -- and receives regular statements. Plus, she has receipts showing she's the kind of person who paid her box rental fee. And yet, she says nobody ever notified her.

To make matters worse, Ruff discovered the loss when she went to her box to retrieve important paperwork she needed because her husband was dying. Those papers had been shredded.

abcnews.go.com
(visit the link for the full news article)




[edit on 13-5-2008 by drock905]

It reminds me of how the Nazis legally stole/seized the Jews' property. Then the Nazis hauled them off to death camps.

reply to post by Jessicamsa


Good observation.

According to this article the govt can take anything they want out of your saftey deposit boxs now...

I wonder how many people this actually happens to?

This is sad. Banks steal our money everyday and get by with it. They don’t care the government always steps in and protects them and leave us out to dry.

You have to know a bank is hard up when it steals $3.00 from you cause you used a different atm. When those first came out it didn’t matter which one you went too.


Second Clue was when they refuse to cash a payroll check if you didn’t have an account with them. I remember it didn’t matter what bank you went too they cashed a payroll check no questions asked. Today what a joke. Have to have an account and if you want any of that money in cash better have that much in your account.

Third clue the bank is hard up for your money. Drop below a certain amount on some accounts they close it and keep your money.

Fourth Clue giving interest only home loans to people who were to dumb to know that is not the correct way to go. These banks stole all that money then got your house on top of it.

Fifth clue now they are digging into your safe deposit boxes. Where it use to be 15 years of being untouched meant maybe that person has died and try and contact them. Today 1 year and they take your pearls, stocks, bonds, retirement, jewelry, whatever is in there it is theirs.

I personally hate banks.

I plan on passing this story on to my family and friends. I encourage anyone whos knows people that have safe deposit boxes to do the same.

Im going to try and convine people to pull thier belongings out and buy a safe.

BANKS CANNOT BE TRUSTED!!!!!!

Originally posted by drock905
reply to post by Jessicamsa

 

Good observation.

According to this article the govt can take anything they want out of your saftey deposit boxs now...

I wonder how many people this actually happens to?

Did you read the comments under the article? A guy came back to his box 3 months after using it and it had been cleared out with all his money and valuables taken. And that was just one comment. This may be a lot more common then just these few cases.

Time to get out the mason jars and start burying them in the back yard people!!

I've gotten to the point that I dread going into the bank to conduct any kind of business......you've got to have a law degree and constantly watch your back when dealing with them!!

When my Dad died and my Mom was in the nursing home, I needed to cash out their CDs to pay her bills. The bank gave me such a runaround, even though I had full power of attorney and other legal paperwork, I came to the belief that some one there had embezzled the funds, thinking that 'those old people' had forgotten all about their money!!

[edit on 14-5-2008 by frayed1]

[edit on 14-5-2008 by frayed1]

Banks cannot be trusted ! Not only does everyone need to empty their saftey deposit boxes they need to take out any excess cash also.The banks usually find a way to charge you a fee for deposited money then they loan out your money and collect interest on it.If we were to limit the available cash to banks we could slow the inflation rate somewhat.Show them that we are wise to their game.Tighten the cash flow to banks!

Speaking of banks and taking your belongings...

Anyone else participating on June 5-15th

Which stems from this site...

ThisJune5th.com -- It's time to withdraw

This is not part of any campaign, it's part of the R3volution.