Private Prison, Detention Ctr. Companies Freak As Trump Goes Down, Stocks Tumble: GEO

[appalachiablue]

- Ruben Hayslett, activist & other protesters gather in front of the GEO Group HQ to speak out against the company that manages private prisons across the U.S. Boca Raton, Florida.

'Private prison companies freak out as Trump goes down in defeat,' Daily Kos, Nov. 9, 2020.

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 2nd Biden term. Private prison companies also pumped tons of cash into the 2020 election, in fact spending “more money on the upcoming election than any on record,” Mother Jones reported last month. Much of it went to Republican candidates.

“This is no surprise,” that report continued. “The for-profit prison business has been booming under the Trump administration, which has increasingly relied on prison companies to hold immigrant detainees.” The Obama administration had been in the process of phasing out the federal government’s use of private prisons until you-know-who won in 2016..

There's been worry that the federal government’s use of private prisons companies—especially when it comes to federal immigration detention—is just so widespread that winding it down will be incredibly difficult. These companies hold about 70% of ICE’s population. But a solution can be much easier than it sounds. Under Donald Trump’s administration, ICE detention has hit record highs (in defiance of limits set by Congress). Under a Biden administration, ICE can be forced to stop that, Marshall Project said.

“Experts say the only realistic way to make good on that promise is to detain far fewer people,” the report said. “The Biden campaign has strongly endorsed case-management strategies for those arrested on immigration violations instead of detention.”...

https://www.dailykos.com/stories/2020/11/9/1994441/-Private-prison-companies-freak-out-as-Trump-goes-down-in-defeat

[Vadem]

1. Freaking Nazis!

[appalachiablue]

2. Jawhohl! Concentration camps of the (newer) colonial era

https://en.wikipedia.org/wiki/Nazi_concentration_camps

[marble falls]

3. Shut them all down. Stop privatizing functions of government.