Comments by "Louis Rossmann" (@rossmanngroup) on "Is Biden Banning Private Prisons?" video.

  1. My interpretation is that corecivic and geo trading above 6 and 8 dollars suggests that this means nothing. If the shareholders think this is fine news to hold through, then nothing is going to change. It makes a good headline though. I did my research in 2016 about the population of everyone in the prison system, how many people were there for non-violent offenses, how many people were in private prisons versus public prisons, and the overcrowding rate of the public prisons. I don't have any of that stuff available anymore, but I came to the conclusion at the time that ending private prisons without outright purchasing the prisons would not be possible. Even if you let out a lot of the nonviolent drug offenders. I wonder what the numbers would be on this now. I am fairly certain the only way to make this work would be to have the government purchase the private prisons to run themselves, which would result in every single shareholder of the private prisons being considerably richer than they are now; especially those the top. Any buyout of that magnitude, particularly when local governments that cannot print money to fund their spending are as hard strapped for cash as they are, would have to happen at the federal level, not the state level. Since state prisons and federal prisons are separate, that's just a whole mess in and of itself to coordinate. Given the difficulty of coordinating this, and the number of other issues that are more pressing, this will most certainly be swept under the rug for the next 4 years, with platitude inducing headlines like the one you just read being the status quo. It did give people a chance to buy in at the 7% dip though, and get a heftier dividend. At least until GEO winds up suspending dividends as a result of their horrible debt. Both of those companies are hogs. If anyone has better updated information regarding the prison population by crime type and prison type, State versus federal, public versus private, that also includes how overcrowded the facilities are, I'd love to see it and learn.
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