New York City Pension System to Divest from Private Prisons

New York City Comptroller Scott Stringer announced today that New York is the first city in the country to completely divest its public pension funds from private prisons. The city sold $48 million in stocks and bonds from the private prison companies GEO Group, CoreCivic and G4S.

The following statement is attributable to New York Civil Liberties Union Executive Director Donna Lieberman:

“Private prisons, put simply, are a human rights disaster and toxic asset. By divesting, Comptroller Stringer is being a good steward of our city pension funds and our principles. The hard-earned retirement savings of New Yorkers should not be used to feed the private prison monster or perpetuate a regime of unbridled abuse of people incarcerated in this state or anywhere else.”