Do some research on a corporation named CORRECTIONS CORPORATION of AMERICA. They are a publicly traded company that has been in business for 30+ years now. What they do is, negotiate contracts with states to run their prisons. The contracts will state that CCA will run the prison at a cost savings for the state and that the state will save millions of dollars…and they do! But, there is a caveat in most of the contracts (all of the contracts, from what I can tell) CCA will run the prison so long as the occupancy rate maintains a level above 90%! (that number may vary a couple % either way from state to state) If the occupancy level drops below 90% for a specific period of time, the state will run in to contract issues that cost them penalties i.e. $$$. Also, it is worth mentioning that most (if not all) police, prosecutor and judges retirement/pension programs are heavily invested in CCA stock. The US has the highest per capita incarceration rate in the world – almost six times that of any Western nation and higher than any national police state. In addition, the US has the world’s largest prison population – with less than a quarter of China’s population (over 1.3 Billion people), the US has almost twice as many prisoners. Ironically, nowhere on Earth is a person more likely to go to prison, and stay there longer, than in the Land of the Free.
Posted on: Tue, 03 Dec 2013 18:42:27 +0000
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