Wednesday, October 21, 2009
US treasury faces bonds lawsuit
Interesting article talks about how the US government is facing a lawsuit for unclaimed bonds. The state will remain responsible for paying back the bond holders no matter how long it will take for them to find the bonds.
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A great article that attempts to show the two different sides of the story - on one side you have the US Federal government who initially sold bonds during the US campaign against the Axis powers in order to support the war effort. On the other hand, you have millions of Americans who at the time were trying to be patriotic and aid the war effort who still today have not been paid back, even though now the bonds have a 40 year maturity period. I don't think that what the government did at the time was wrong, but I do believe that each person should be paid back no matter how long it takes, and states that earn back the interest earned should re-invest the money into state schools or infrastructure projects.
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