Warren Financially Benefited from Private Prisons Despite Claiming They Are ‘Profiteering off Cruelty’

Sen. Elizabeth Warren (D-MA) benefited financially from the existence of private prisons despite vowing to ban them on the grounds that they are “profiteering off cruelty,” a report from the Washington Free Beacon revealed.

Warren pledged in June to ban private immigration centers and private prisons, detailing the vow in a Medium post.

“There should be no place in America for profiting off putting more people behind bars or in detention,” Warren wrote:

We didn’t get here by chance. Washington works hand-in-hand with private prison companies, who spend millions on lobbyists, campaign contributions, and revolving-door hires — all to turn our criminal and immigration policies into ones that prioritize making them rich instead of keeping us safe.

“That’s why I will shut down the use of federal private detention facilities by ending all contracts that the Bureau of Prisons, ICE, and the U.S. Marshals Service have with private detention providers,” Warren continued, accusing private prisons of engaging in “exploitation, plain and simple.”

Why George W Bush handed Altoids to Michelle Obama at her husband’s presidential center opening

Obama knocks Founders at presidential center debut before America’s 250th: ‘Fell terribly short’

‘American flag blue’ coating apparently peeling off in Lincoln Memorial Reflecting Pool

Planned Parenthood offered hormones but had no answers when detransitioner sought help, undercover probe finds

Trump Sends Forceful Message to ‘Jealous, Bad People’ Questioning His Iran Deal

Pete Hegseth Shames NATO Leaders to Their Faces, Demands They Take ‘Responsibility for the Defense of Europe’

Trump Iran framework gambles on diplomacy despite warning Tehran will ‘lie and cheat’

Dem Senate hopeful under fire for resurfaced comments calling cops ‘opportunistic cowards’

11 suspected illegal immigrants among 15 arrested in $1.4M benefits fraud crackdown in Massachusetts, DOJ says

JD Vance says he and Joy Behar are ‘best friends now’

Luigi Mangione’s emotional disturbance defense may have huge impact in his other case: lawyer

Illegal immigrants among 15 charged in $1.4 million Massachusetts benefits fraud crackdown

Here It Is: The Full Text of the US-Iran Agreement Trump Signed at Versailles

Soros Puppet, Philly DA Caught Doing Shocking Favors for Murderers – So Inappropriate That PA Supreme Court Is Intervening

Lawmakers scramble after Trump derails bid to revive key counterterrorism tool days after FBI thwarts UFC plot

See also Trump arrives for UFC fight

She even implicated the Trump administration, accusing it of luring in private prison companies, which “saw their chance to run the same playbook for our immigration system.”

Despite those pleas, Warren has benefited financially from the existence of private prisons.

According to the Free Beacon, Warren invested tens of thousands of dollars — $50,000 — in a Vanguard Group fund which “owned hundreds of millions of dollars worth of shares in leading private prison companies. While she sold her stakes in that fund in 2013, the Free Beacon noted that it was “the largest shareholder of America’s largest private prison corporation” at the time.

The Free Beacon reported:

Warren invested in Vanguard Target Retirement 2025—a retirement account run by the Vanguard Group, an investment management company—which in turn invested more than 30 percent of its money in Vanguard’s domestic stock index fund. Vanguard was the top shareholder of Corrections Corporation of America (CCA), and one of the largest of GEO Group, both private prison companies, according to data from the Securities and Exchange Commission. Vanguard owned more than 12 million CCA shares and nearly 9 million GEO Group shares, which were worth roughly $456 million and $216 million, respectively, in March 2013.

CCA, now called CoreCivic, was already the country’s largest owner of private prisons in 2013, according to an annual report. The company owned or controlled more than 50 correctional or detention facilities in the country, “with a total design capacity of approximately 86,000 beds in 20 states and the District of Columbia.” GEO Group is also one of the largest private prison providers in the country with 66 prison facilities across the world as of 2013. The two companies also operate many Immigration and Customs Enforcement (ICE) detention facilities for illegal immigrants.