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.”

Trump ally Clay Fuller advances in Georgia fight for MTG’s former seat

DOJ leader swats back DNC election security suit, mocks demands as kid’s ‘tooth fairy’ wish list

Former Kentucky cheerleader indicted on manslaughter charge after newborn son found dead in closet

Sheriff running Nancy Guthrie case responds after report reveals unseemly exit from first policing job

Three cargo ships damaged by ‘projectiles’ in Strait of Hormuz

US Moves Against Iranian Mine Ships, Sinks Over a Dozen: Reports

Texas conservatives tout record-breaking school choice signups after long battle with teachers unions

Scott moves to bypass teachers unions, send federal school funds straight to parents if classrooms close

Wanted on 59 Counts of Rape and Child Sex Crimes: One of Those Illegals Dems Care More About Than Americans Was Just Nabbed by NC Cops

New Twist in Epstein Guard’s Saga – Large Mystery Deposits Showed Up in Her Bank Account Leading Up to Just Before His Death, Interesting Google Searches Also

Spanish Court Orders Madrid to Create Registry of Doctors Who Refuse to Perform Abortions

Former Freedom Caucus chair Bob Good blasts Trump’s endorsement record: ‘Trump IS the problem’

Tom Cotton puts Biden on notice while demanding answers on draining of nation’s oil stockpile

Johnson pushes reconciliation 2.0 with no clear plan and Trump’s focus elsewhere

Lindsey Graham’s war rhetoric complicates Trump’s push to calm MAGA base

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.