Private Prison Companies Freak out after Trump’s Defeat

So since Tuesday, CoreCivic has fallen 19%, Mother Jones said. GEO Group, another major private prison profiteer, has fallen 14%
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Mother Jones reports that stock prices for two of the nation’s biggest private prison profiteers have taken a tumble since Election Day, and it’s obvious why.

These companies make obscene amounts of money imprisoning human beings for the federal government, and President-elect Joe Biden has pledged to end the federal government’s use of private prisons.

So since Tuesday, CoreCivic has fallen 19%, Mother Jones said. GEO Group, another major private prison profiteer, has fallen 14%.

Pro-detention forces already sensed trouble—for them.

With then-candidate Biden’s platform also stating that he would “make clear that the federal government should not use private facilities for any detention, including detention of undocumented immigrants.”

Immigration and Customs Enforcement rushed into long-term private prison contracts intentionally designed to go past a theoretical second Biden term.

Read rest of story here.

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