Investors are betting on Trump’s promise to incarcerate and deport millions, and big changes may be coming to America's prison towns, says Carl Takei of the ACLU.
By George Josephy, CityLab
November 14, 2016
Among the big winners buoyed by Donald Trump’s victory? The private prison industry. Shares of CoreCivic (formerly known as Corrections Corporation of America) and GEO Group, the two biggest players in the business, jumped 43 and 21 percent, respectively, the day after the election.
Over the last week, their fortunes have continued to rise as Trump’s recent public statements affirm his aggressive deportation plans. In an interview broadcast on CBS’ “60 Minutes” Sunday, Trump insisted he would remove two to three million immigrants upon taking office, incarcerating many in the process. “What we are going to do is get the people that are criminal and have criminal records,” Trump told correspondent Lesley Stahl. “We are getting them out of our country or we are going to incarcerate.”
Trump’s win comes at a crucial time for the prison business.[...]
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