Private prison stocks are flying on Trump victory

MAGA

America needs fewer laws, not more prisons.

The bounce came after a bad dip for the industry, when an Obama-era memo declared that the federal government would phase out the use of private prisons. The memo followed a Justice Department report that found they did not save the government money, and were less safe than publicly run facilities. This decision, lauded by criminal justice reform circles, was quickly rescinded by Trump’s attorney general Jeff Sessions.

During the campaign, the industry quickly recognized Trump as their man. GEO Group, one of the two largest prison operators, was one of the few publicly traded companies to openly donate large sums to the Trump effort. Both GEO Group and CoreCivic, the other industry giant, donated to the presidential inauguration. One donation to Trump, the senators point out, came a day after the Obama Justice Department’s decision to eliminate their use of private facilities.

Corruption, pure and simple.

How can a patriotic American think about the collapse of the US now without vomiting?