This Planet Money episode investigates "escheat," the process by which states claim unclaimed assets. The podcast uses the story of Walter Schramm, whose forgotten Amazon stock was escheated by Delaware, to illustrate the system's flaws and potential for abuse. It highlights how states utilize escheated funds, often without adequately notifying owners, and discusses the ongoing legal battle Schramm is waging. Listeners are encouraged to check their state's unclaimed property website; the podcast notes that listeners have collectively recovered over $38,000 in unclaimed funds since the episode's initial airing. The episode ultimately raises concerns about the balance between protecting consumers and the potential for states to profit from unclaimed assets.
