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| Billions in unclaimed bonds date to World War II
Quote: HELENA, Mont. The federal government is facing a lawsuit over billions in unclaimed bonds that date back to the patriotic fundraising efforts of World War II, leading to a showdown between states who say they should be given the money and a Treasury Department that claims ownership.
World War II sparked an unprecedented bond buying campaign, spurred on by one of the largest advertising campaigns ever seen a drive wrapped in dutiful pleas from celebrities, politicians and cartoon characters alike.
Most American families bought at least one bond at the time and many never cashed them in thanks in part to a 40-year maturity in the bonds. And those same "Series E" war bonds continued to be sold by the federal government until 1980.
More than $16 billion worth of the bonds are unclaimed, either lost or forgotten about with the death of the original purchasers | http://news.yahoo.com/s/ap/20091018/...nclaimed_bonds |
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