New York City pension funds are divesting private prison stocks
New York City pension funds are divesting private prison stocks
New York City’s pension funds announced they’re selling $48 million in stocks and bonds invested in three private prison companies. It’s the first group to publicly divest from that industry, and cited recent reports of inmate deaths, as well as concerns of overcrowding and understaffing. Private prisons are expected to grow under President Trump. That’s due to his plans to detain and deport more people living in the U.S. without legal immigration status, and due to Attorney General Jeff Sessions repealing an Obama-era memo urging the Department of Justice to reduce use of private prisons.
Click the audio player above to hear the full story.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
