Ramstad Introduces Legislation on Nazi Asset Confiscation

WASHINGTON--U.S. Rep Jim Ramstad (R-3rd) today introduced legislation to clear the way for victims of Nazi persecution to bring suit in U.S. Federal court against banks and businesses that profited from their participation in the Holocaust.

"I believe the companies which profited from their complicity with the Nazi regime and the Holocaust should pay for their actions," said Ramstad. "It is absolutely appalling that to this day, German banks and businesses have not admitted their role in this theft nor have they returned the fruits of their crimes."

"It is absolutely inexcusable that German banks and businesses continue to deny their obvious guilt and refuse to compensate the victims," said Ramstad.

Ramstad's legislation would amend title 28 of the U.S. Code to clarify that Federal district courts have jurisdiction over suits to recover damages for the confiscation of real and personal property by the Nazi government. The bill also extends any statute of limitations until January 1, 2010.

"There are people who say this occurred too long ago and that we should leave these events in the past," said Ramstad. "I strongly and fundamentally disagree. There must never be a statute of limitations on Aryanization, as genocide and related crimes should always be punished."