The stock prices of the country’s two largest publicly traded companies that own and manage prisons and immigrant detention centers soared immediately following Donald Trump’s election as president. Shares in GEO Group and CoreCivic rose again the day after the president-elect announced Tom Homan, who managed immigration enforcement during Trump’s first administration, as his “border czar.” Speaking at the Republican National Convention this summer, Homan said, “I got a message to the millions of illegal aliens that Joe Biden’s released in our country. You better start packing now.”
This is not the first time prison company stocks skyrocketed at the news that Trump would take the Oval Office. When he was elected in 2016, the private prison industry — which analysts had referred to as beleaguered — immediately rebounded. Two weeks later, CNBC reported that an analyst had written in a research note, “The Trump victory was a game changer for […]
These private prisons are solely in it for the huge profits they make. Food, air conditioning, medical care, conditions in the prison itself are all sub-standard because sub-standard means more profits! The Federal Government did away with privatization because they realized it was inferior and even danger. Look at the numbers of prisoners who have died in private prisons because of poor and lacking health care, poor diets, etc. Since Trump and his ultra-wealthy cohorts are taking over the government, more than likely even more privatization of prisons will occur. Here in Florida, there are a number of state prisons without air conditioning! Can you imagine in cooped up areas with no open windows how terrible that must be for prisoners! What we are seeing is what many of us already knew—Trump and these extremely wealthy appointees care nothing for the common person—just making more and more money for themselves!