Legalization of Pot Means Trouble for Private Prisons

“At one time, private prison investments were great. They were making tons of money because it was this grand idea on how it was going to be so much better than the state led prisons. However, it now looks like one of the worst investments you can make.  With the potential abolition of mandatory sentencing for drug crimes, and many prisons cutting ties with CCA, MTC, and GEO Group (NYSE: GEO) because of their poor management abilities, it’s just going to get worse. If these company prisons end up having to bring in riskier offenders to already understaffed facilities, more problems are sure to arise. When the problems increase, they become a less attractive option.”

http://www.wealthdaily.com/articles/legalization-of-pot-means-trouble-for-private-prisons/4948

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