NYC pension fund to back out of investments in private prisons

Some good news on Comey day. Big congrats to everyone who has worked so hard to make this happen.

“New York City’s pension system has become the first in the nation to fully divest from private prisons, Controller Scott Stringer will announce Thursday.

“The city has sold off about $48 million in stocks and bonds of three private prison companies, according to the controller’s office, after a unanimous vote from the funds’ trustees.

“The move comes after a scathing federal audit of private prison facilities last year, and after eight immigrant detainees have died in the last fiscal year while in private immigration detention centers — which house 65% of Immigration and Customs Enforcement detainees, according to Stringer’s office.

“Morally, the industry wants (to) turn back the clock on years of progress on criminal justice, and we can’t sit idly by and watch that happen,” Stringer said. “Divesting is simply the right thing to do — financially and morally.”
via Facebook

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