Private Prison Corporations Are Modern Day Slave Traders
The nation’s largest private prison company, the Corrections Corporation of America, is on a buying spree. With a war chest of $250 million, the corporation, which is listed on the New York Stock Exchange, earlier this year sent letters to 48 states, offering to buy their prisonsoutright. To ensure their profitability, the corporation insists that it be guaranteed that the prisons be kept at least 90 percent full.
"The Corrections Corporation of America’s filings with the US Securities and Exchange Commission," writes Ford, "read very much like the documents of a slave-trader. Investors are warned that profits would go down if the demand for prisoners declines." (BAR photo)
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