REPORT: Elizabeth Warren Wants To Ban Private Prisons, But Has Invested In Them In The Past

Elizabeth Warren is such a hypocrite.

Not only does she want to make college free, despite the fact that she made a fortune teaching for Harvard, she also benefited from investing in private prisons, which she now wants to ban.

The Washington Free Beacon reports:

Warren Invested in Private Prisons

Presidential hopeful Elizabeth Warren wants to ban private prisons because “no one should make a profit locking people up,” but the senator has financially benefited from private prison companies in the past.

The Massachusetts senator invested up to $50,000 in a Vanguard Group fund that owned hundreds of millions of dollars worth of shares in leading private prison companies. Warren sold her stakes in that fund in exchange for a different retirement account in 2013. At the time, the fund was the largest shareholder of America’s largest private prison corporation.

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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.

Breitbart has more, including Warren’s hypocritical position on this issue:

Trending: It’s Starting To Look Like Democrats Are Going To Lose The Senate This Year

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.”

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.”

Will any of her rivals call her out on this during the debates?


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