"Par-a-noia strikes deep . . .

. . . into your hearts it will creep."

I've stoutly resisted pessimism and paranoia about our current fiscal and political situation. But this story is just a little bit scary.

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."

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.

"They are zealously uncovering accounts that are not unclaimed," Ruff said.

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.

And that's not all. Her great-grandmother's precious natural pearls and other jewelry had been auctioned off. They were sold for just $1,800, even though they were appraised for $82,500.

"These things were things that she gave to me," Ruff said. "I valued them because I loved her."

Bank of America told ABC News it deeply regrets the situation and appreciates the difficulty of what Mrs. Ruff was going through. The bank has reached a settlement with Ruff and continues to update its unclaimed property procedures as laws change. . . .

California law used to say property was unclaimed if the rightful owner had had no contact with the business for 15 years. But during various state budget crises, the waiting period was reduced to seven years, and then five, and then three. Legislators even tried for one year. Why? Because the state wanted to use that free money. [Emphasis added.]

Is the source for this story some kook right-wing blogger? No. It's ABC News.

(Link via John Hawkins.)

Comments

[whosonfirst]

I have read that, if the government declares a national emergency, you cannot access the box without someone from Homeland Security present. And THEY will be the arbiter of what you can remove from the box.

As someone said recently, this is not the same country we grew up in.

[GaryS]

Next year, California estimated tax must be paid in increments of 40 % on April 15, 30 % on June 15 and the balance by January 15, 2011. In other words, you have to pay 70 % of your estimated tax at a time when you have only earned 42 % of the income.

By all reasonable standards, the government of California are little more than common criminals.

I wish I could convince my wife to move the hell out of this freaking cesspool!

[Buford Gooch]

We just moved to California from Illinois about a year ago. Believe it or not, the politics here is beanbag, in comparison. CA takes more money from my check, but at least I can usually see where it's going, even if I don't like it. This is not meant to defend California. This safe deposit box scandal certainly puts the lie to the "Safe" in safe deposit. Legal thievery has become a much more likely scenario than strong armed robbery.

[kyle8]

mmm that has me thinking. I am going to keep my stuff in my box for a while because I live in Texas. But if it looks like Obama might declare a national emergency I will go get it out quick. There will be signs before that happens. This administration will do nothing potentially damaging before floating a trial balloon.

As for California. Why does anyone who has a sale-able skill still live there?

[Chris Rasch]

The British government just seized over 6700 safe deposit boxes suspected of being used to store drugs, guns, and illicit profits:

http://www.dailymail.co.uk/home/moslive/article-1222777/The-raid-rocked-Met-Why-gun-drugs-op-6-717-safety-deposit-boxes-cost-taxpayer-fortune.html

I'm sure it won't be long before similarly broad warrants are granted here.