Private Prisons Highlight Corruption Of Capitalism

Betsy Woodruff’s article earlier this week in the Daily Beast about the panicked efforts of the CEOs of private prisons trying to get the government to pay for the cost of lawsuits against their companies pretty much covers all the areas in which our economic and political systems have failed. It involves the privatization of government services and government-granted oligopoly power, labor exploitation and wage theft, executive greed, regulatory capture and the revolving door between industry and government, and potential securities law violations, all in one story.