The news this morning is that the GEO Group has run out of banks, as 100% of its banking partners have said "no more money". Major banks supporting the private prisons behind mass incarceration and immigrant detention have now committed to not renew $2.4B in credit lines and term loans to industry giants GEO Group and CoreCivic.
Ironically, public outrage against Trump's immigration policies are the reason the banks are cutting out the funding.
Tired of winning yet, Donny?
Arizona is now hiring 18 year olds as prison guards, in large part due to the fact that the vacancy rates has gone from 1.5% to 15% over the last 7 years. Arizona correctional officers average $33,000 a year, slightly less than the national average of $35,000.
About 40 percent of the private prison beds in Arizona are reserved for inmates brought here from as far as 2,500 miles away.
Arizona has 48 state prisons, and 6 of those are private prisons, With funding for private prisons drying up, it will be interesting to see what will happen with those prisons. The obvious solution, of course, is simply release a lot of the non violent criminals - but that approach is unlikely to fly in the Arizona legislature, which has passed plenty of goofy laws.