Prison Stocks Nosedive on DOJ Announcement to End Private Prison Contracts

By Matt Zapotosky

The Justice Department plans to end its use of private prisons after officials concluded the facilities are both less safe and less effective at providing correctional services than those run by the government.

Deputy Attorney General Sally Yates announced the decision on Thursday in a memo that instructs officials to either decline to renew the contracts for private prison operators when they expire or “substantially reduce” the contracts’ scope. The goal, Yates wrote, is “reducing — and ultimately ending — our use of privately operated prisons.”

Continue Reading

Screen Shot 2016-08-18 at 3.09.54 PM

Screen Shot 2016-08-18 at 3.09.45 PM

Screen Shot 2016-08-18 at 3.09.14 PM

Screen Shot 2016-08-18 at 3.09.25 PM

Related Reading:

GEO Group on Wikipedia
Corrections Corporation of America on Wikipedia
Dillon Read & the Aristocracy of Stock Profits
Meditations on the Falling US Homeownership Rate
Justice Department Plans to Stop Using Private Prisons

Inside the administration’s $1 billion deal to detain Central America asylum seekers