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.”
Cornell Appoints Former Acting Attorney General Who Was Fired by Trump for Insubordination to Lead Investigation
GOP Sen. Thom Tillis Sucks Up to ‘The View’ by Threatening to Dox Trump’s Personal Phone Number
Unearthed social media posts contradict El-Sayed’s ‘capitalist’ narrative
Christa Pike now conscious and talking after surviving 2 doses of lethal injection drug: report
Delta Air Lines jet clips Air Canada plane on Los Angeles International Airport tarmac
Immediate Impact Seen at CNN HQ as Paramount and Warner Bros. Finalize Controversial Mega Merger
Nebraska’s Dan Osborn says mocking Trump voters ‘came from a place of passion’
Macron trashes American free speech as riots grip France — internet unloads: ‘Enormous fool’
ICE Hunting for 2 Illegal Aliens Suspected of Stabbing an NYPD Officer 3 Years After Biden Released Them Into the U.S.
El Sayed creates ‘Mike Rogers is watching you’ website highlighting work on Patriot Act
Russian researcher’s mystery death could be ‘far worse’ than the plague, former senior Trump official warns
Lithuania moves to allow nuclear weapons on its territory, sparking threats of ‘escalation’ from Russia
Liberal justices look for ‘escape hatch’ as high-stakes climate case lands at Supreme Court, experts say
Judge Slams Mamdani’s ‘Arbitrary’ and ‘Capricious’ Tax, Hands New Yorkers Major Legal Victory
Icon Missing from Florida Church for 100 Years Turns Up on a Back Wall in Another Country
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.
Cornell Appoints Former Acting Attorney General Who Was Fired by Trump for Insubordination to Lead Investigation
GOP Sen. Thom Tillis Sucks Up to ‘The View’ by Threatening to Dox Trump’s Personal Phone Number
Unearthed social media posts contradict El-Sayed’s ‘capitalist’ narrative
Christa Pike now conscious and talking after surviving 2 doses of lethal injection drug: report
Delta Air Lines jet clips Air Canada plane on Los Angeles International Airport tarmac
Immediate Impact Seen at CNN HQ as Paramount and Warner Bros. Finalize Controversial Mega Merger
Nebraska’s Dan Osborn says mocking Trump voters ‘came from a place of passion’
Macron trashes American free speech as riots grip France — internet unloads: ‘Enormous fool’
ICE Hunting for 2 Illegal Aliens Suspected of Stabbing an NYPD Officer 3 Years After Biden Released Them Into the U.S.
El Sayed creates ‘Mike Rogers is watching you’ website highlighting work on Patriot Act
Russian researcher’s mystery death could be ‘far worse’ than the plague, former senior Trump official warns
Lithuania moves to allow nuclear weapons on its territory, sparking threats of ‘escalation’ from Russia
Liberal justices look for ‘escape hatch’ as high-stakes climate case lands at Supreme Court, experts say
Judge Slams Mamdani’s ‘Arbitrary’ and ‘Capricious’ Tax, Hands New Yorkers Major Legal Victory
Icon Missing from Florida Church for 100 Years Turns Up on a Back Wall in Another Country
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.
