As state governments wrestle with massive budget shortfalls, a Wall Street giant is offering a solution: cash in exchange for state property. Prisons, to be exact. Corrections Corporation of America, the nation's largest operator of for-profit prisons, has sent letters recently to 48 states offering to buy up their prisons as a remedy for "challenging corrections budgets." In exchange, the company is asking for a 20-year management contract, plus an assurance that the prison would remain at least 90 percent full, according to a copy of the letter obtained by The Huffington Post.
Private Prison Corporation Offers Cash In Exchange For State Prisons
Wednesday, February 15, 2012
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
This blog is created to not only keep you informed, but to receive feedback from you as well. Please feel free to comment on any posts. We reserve the right to remove any post we deem inappropriate in language and/or content.