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.”
Two People Climb to the Top of Empire State Building Antenna, Fly Banner with Message
Michelle Obama Went ‘Absolutely Ballistic’ and Blocked RFK Jr.’s Wife Cheryl Hines from Appearing in New Show: Report
McConnell was found ‘unconscious’ in home last month as condition remains unknown
Congressman Gets Mixed Response After Explaining Why He Disappeared for Four Months
Fox News Poll: A close Senate contest is brewing in Iowa
Meet the Poster Child for Why Birthright Citizenship Is Horrible: Rep. Ramirez – Born to an Illegal and Now Trashes America and Supporters Terrorists
Jayapal tells murder victims’ parents Congress has other things to do
West Coast state sheriff’s bait bike sting snares dozens of alleged thieves in just months
Mamdani walks back plan to increase NYPD headcount following DSA pressure
Road to America 250 starts with Ford: Exhibit at Union Station shows off iconic vehicles
Government watchdog targets ‘weapons of mass reproduction’ after Supreme Court ruling
Court keeps ‘Decoy Dan’ on Alaska ballot as expert warns ranked-choice system creates voter ‘traps’
Military Leaders Brief Trump on Plan for Full-Scale War in Iran: Report
Judge Frees Punks Accused of Brutalizing Elderly Man Who Dared Stand Up for Pregnant Woman – Welcome to Mamdani’s Paradise
RNC chair predicts first-ever midterm convention will turn Dallas into ‘Trumpapalooza’ for 2026 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.
Two People Climb to the Top of Empire State Building Antenna, Fly Banner with Message
Michelle Obama Went ‘Absolutely Ballistic’ and Blocked RFK Jr.’s Wife Cheryl Hines from Appearing in New Show: Report
McConnell was found ‘unconscious’ in home last month as condition remains unknown
Congressman Gets Mixed Response After Explaining Why He Disappeared for Four Months
Fox News Poll: A close Senate contest is brewing in Iowa
Meet the Poster Child for Why Birthright Citizenship Is Horrible: Rep. Ramirez – Born to an Illegal and Now Trashes America and Supporters Terrorists
Jayapal tells murder victims’ parents Congress has other things to do
West Coast state sheriff’s bait bike sting snares dozens of alleged thieves in just months
Mamdani walks back plan to increase NYPD headcount following DSA pressure
Road to America 250 starts with Ford: Exhibit at Union Station shows off iconic vehicles
Government watchdog targets ‘weapons of mass reproduction’ after Supreme Court ruling
Court keeps ‘Decoy Dan’ on Alaska ballot as expert warns ranked-choice system creates voter ‘traps’
Military Leaders Brief Trump on Plan for Full-Scale War in Iran: Report
Judge Frees Punks Accused of Brutalizing Elderly Man Who Dared Stand Up for Pregnant Woman – Welcome to Mamdani’s Paradise
RNC chair predicts first-ever midterm convention will turn Dallas into ‘Trumpapalooza’ for 2026 fight
Warren’s investment in the fund stands in stark contrast with the presidential candidate’s accusatory remarks over the summer, in which she accused private prisons and the financial beneficiaries of “profiteering off cruelty.”
Story cited here.
