Welcome to the Humpday Hall of Shame, where we highlight the private prison industry’s influence on public policy and the big money that supports incarceration for profit.
This week, we turn our focus from private prison corporations' practices to the money behind private prisons. As we've reported, companies like Corrections Corporation of America and GEO Group have become multi-billion dollar corporations, making money off the incarceration and detention of human beings. What is less known is that these companies are traded on the stock exchange, enriching investment institutions in addition to private prison executives.
Our friends at Enlace and the National Prison Divestment Campaign have published a list of 27 top investors in private prison corporations GEO Group and Corrections Corporation of America. The list includes several well known investment institutions including Vanguard Group, Blackrock, Barclays, Wells Fargo, and Bank of America.
Public pressure can make a difference, as the divestment campaign has successfully pressured several institutions to dump their private prison stocks. Check out the full list to see if your financial institution has money invested in the private prison industry, and stay tuned for announcments about upcoming actions around private prison investments.