Following Donald Trump’s 2024 election victory, private prison stocks experience their second massive surge after a Trump win. CoreCivic stock jumps 29% and GEO Group vaults 42% in a single trading session as investors bet on profits from Trump’s pledge to carry out “the largest …
Donald TrumpCoreCivicGEO GroupTom HomanWall Street investors+1 moreprivate-prisontrump-administrationimmigration-detentionmass-deportationwall-street+4 more
The day after Donald Trump is declared winner of the 2016 presidential election, private prison stocks experience massive gains. CoreCivic (formerly CCA) jumps from $14.19 to $20.31 per share (43% increase) and GEO Group rises from $23.88 to $28.96 per share (21% increase). According to Bianca …
Donald TrumpCoreCivicGEO GroupWall Street investorsWorth Risesprivate-prisontrump-administrationwall-streetprison-industrial-complexstock-market+1 more
Governor Alejandro García Padilla ordered Puerto Rico’s first major default, blocking a $422 million payment on Government Development Bank bonds. This historic default was part of Puerto Rico’s unprecedented $72 billion debt crisis, representing debt larger than the island’s GDP. …
Alejandro García PadillaPuerto Rico Government Development BankPuerto Rico GovernmentHedge Fund Creditorspuerto-ricodebt-crisismunicipal-bankruptcyfinancial-engineeringausterity+3 more
Moelis & Company, a Wall Street investment bank, announced the appointment of former House Majority Leader Eric Cantor (R-VA) as vice chairman and managing director just two weeks after his congressional career ended. According to SEC filings, Cantor’s compensation package included a …
Eric CantorMoelis & CompanyHouse Republicansrevolving-doorlobbyingcongressional-corruptionwall-streetfinancial-sector
Investigation revealed that Citigroup lobbyists drafted a House bill aimed at rolling back Dodd-Frank financial regulations, with 70 of the 85 lines in the final House legislation directly reflecting Citigroup’s recommendations. Two complete paragraphs were copied almost word-for-word from …
MF Global Holdings filed for Chapter 11 bankruptcy protection, becoming the eighth largest bankruptcy in U.S. history at that time. The firm, led by former U.S. Senator and New Jersey Governor Jon Corzine, reported that up to $1.6 billion in customer segregated funds were missing. The collapse came …
Jon Corzinefinancial corruptionwall streetregulatory capturedemocratic partycustomer fraud+1 more
Goldman Sachs announced the appointment of former Senator Judd Gregg (R-NH) as an international advisor to the firm, making him one of 17 such advisors providing strategic counsel to Goldman’s executives and clients. Gregg had served three terms in the U.S. Senate from 1993 to 2011, serving as …
Judd GreggGoldman SachsSecurities Industry and Financial Markets Associationrevolving-doorlobbyingcongressional-corruptionwall-streetgoldman-sachs
Despite widespread evidence of fraud in the 2008 financial crisis, the Obama administration prosecuted zero major Wall Street executives, contrasting starkly with the Savings and Loan crisis when 1,706 bankers were sent to prison. Instead, the DOJ pursued civil settlements totaling tens of billions, …
Eric HolderDepartment of JusticeWall Street BanksLanny BreuerCovington & Burlingfinancial-crisiswall-streetimpunityrevolving-doortoo-big-to-fail
The U.S. government authorized an $85 billion bailout of American International Group (AIG), with Goldman Sachs receiving $12.9 billion—the largest individual payout. Treasury Secretary Henry Paulson, a former Goldman Sachs CEO, played a central role in the decision, despite significant conflicts of …
Henry PaulsonLloyd BlankfeinDon Jesterfinancial-capturebailoutwall-streetregulatory-failurebanking-crisis
CFTC Chair Brooksley Born issued a concept release seeking public comment on regulating the $29 trillion over-the-counter derivatives market, warning of systemic risks from unregulated trading. Within hours, Treasury Secretary Robert Rubin, Federal Reserve Chairman Alan Greenspan, and SEC Chairman …
Brooksley BornRobert RubinLawrence SummersAlan GreenspanArthur Levittderivativescftcregulatory-capturefinancial-crisissystemic-risk+2 more
Wackenhut Corrections Corporation (WCC) launches its initial public offering on NASDAQ, selling 2.2 million shares and becoming the second major private prison company to go public. Founded in 1984 by George C. Zoley as a division of The Wackenhut Corporation security firm, WCC establishes itself as …
Wackenhut Corrections Corporation (WCC)GEO GroupGeorge C. ZoleyThe Wackenhut CorporationNASDAQprivate-prisonprison-industrial-complexwall-streetmass-incarcerationfinancial-capture
Corrections Corporation of America (CCA) launches its initial public offering on NASDAQ under the symbol CCAX, selling 2 million shares at $9 per share and raising $18 million to fund expansion. Despite struggling for profitability in its first three years, the company convinces Wall Street …
Corrections Corporation of America (CCA)Thomas W. BeasleyNASDAQVanderbilt University Law SchoolJack C. Masseyprivate-prisonprison-industrial-complexwall-streetmass-incarcerationinstitutional-investment+1 more
On November 20, 1934, the U.S. House of Representatives Special Committee on Un-American Activities (McCormack-Dickstein Committee) begins secret testimony from retired Marine Corps Major General Smedley Butler, who alleges that wealthy Wall Street financiers plotted to overthrow President Franklin …
Smedley ButlerMcCormack-Dickstein CommitteeGerald MacGuireJ.P. Morgan interestsDu Pont family+2 morecorporate-resistancenew-dealinstitutional-capturecoup-attemptmilitary-industrial-complex+1 more