A report issued by Anonymous Analytics shows that private, for-profit prisons are not only a “national disgrace,” but also a bad financial investment.
Anonymous Analytics issued the detailed report on July 9, showing that the Corrections Corporation of America, the largest private prison corporation in the United States, is headed for financial ruin.
The report indicates that “exploding corrections budgets have forced states to enact bi-partisan criminal justice reforms to reduce their prison populations,” and that “states across the country have closed prisons due to excess capacity and generational low crime rates.” Given these facts, the report concludes that Corrections Corporation of America’s earnings will “get smacked under the weight of current and future contract losses.”
The Corrections Corporation of America (CCA) already has a dismal performance record. MSNBC reports that the CCA “has racked up countless violations.” In an audit last October, the CCA was slapped with 47 violations including having smaller-than-state standard housing units: “all housing units prove less than the requirement of 25 feet of unencumbered space per occupant.” Later that same year, the CCA failed yet another inspection.
Recently Think Progress reported that the CCA’s Lake Erie prison “is reportedly overcrowded at 130% capacity , with single-person cells holding 3 inmates each, according to internal documents obtained by the ACLU.”
Carl Takei, staff attorney with the American Civil Liberties Union's National Prison Project, made the following comments on the report:
"The ACLU has known for years that for-profit prisons are a bad policy investment. Thanks to Anonymous' report, we now know they are a bad financial investment as well. For 30 years, companies like the Corrections Corporation of America have capitalized on our country's addiction to incarceration, converting an unprecedented prison population boom into big returns for investors. But as states increasingly pass reforms that wean us from our addiction to incarceration, CCA's profits will dry up."
The ACLU also issued a detailed statement applauding the report from Anonymous Analytics, and condemning companies like CCA that “currently profit from America's addiction to incarceration – converting a bloody trail of prison riots, deaths, and general human misery into black balance sheets.”
The U.S. leads the world in incarcerations with 2.2 million Americans behind bars ,
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