Presidential hopeful Elizabeth Warren wants to ban private prisons because "No one should make a profit locking people up," but the senator has financially benefited from private prison companies in the past.
The Massachusetts senator invested up to $50,000 in a Vanguard Group fund that owned hundreds of millions of dollars worth of shares in leading private prison companies.
Warren invested in Vanguard Target Retirement 2025-a retirement account run by the Vanguard Group, an investment management company-which in turn invested more than 30 percent.
CCA, now called CoreCivic, was already the country's largest owner of private prisons in 2013, according to an annual report.
The company owned or controlled more than 50 correctional or detention facilities in the country, "With a total design capacity of approximately 86,000 beds in 20 states and the District of Columbia." GEO Group is also one of the largest private prison providers in the country with 66 prison facilities across the world as of 2013.
In June Warren announced in a Medium post she would "Ban private prisons and detention facilities." The plan would also prevent private contractors from charging fees to inmates for in-prison services such as phone calls.
"That's why I will shut down the use of federal private detention facilities by ending all contracts that the Bureau of Prisons, ICE, and the U.S. Marshals Service have with private detention providers."
https://freebeacon.com/politics/warren-invested-in-private-prisons/
The Massachusetts senator invested up to $50,000 in a Vanguard Group fund that owned hundreds of millions of dollars worth of shares in leading private prison companies.
Warren invested in Vanguard Target Retirement 2025-a retirement account run by the Vanguard Group, an investment management company-which in turn invested more than 30 percent.
CCA, now called CoreCivic, was already the country's largest owner of private prisons in 2013, according to an annual report.
The company owned or controlled more than 50 correctional or detention facilities in the country, "With a total design capacity of approximately 86,000 beds in 20 states and the District of Columbia." GEO Group is also one of the largest private prison providers in the country with 66 prison facilities across the world as of 2013.
In June Warren announced in a Medium post she would "Ban private prisons and detention facilities." The plan would also prevent private contractors from charging fees to inmates for in-prison services such as phone calls.
"That's why I will shut down the use of federal private detention facilities by ending all contracts that the Bureau of Prisons, ICE, and the U.S. Marshals Service have with private detention providers."
https://freebeacon.com/politics/warren-invested-in-private-prisons/
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