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General News    H4'ed 3/20/19

Big Progress for Prison Divestment Movement

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Activists are stopping banks like JPMorgan Chase and Wells Fargo from financing the caging of migrant children. 

Last Tuesday, JPMorgan Chase, which has provided at least $254 million in debt financing to two private prison giants, CoreCivic and Geo Group, cut off that money spigot, stating “we will no longer bank the private prison industry.” And in congressional testimony Wells Fargo CEO Tim Sloan, under questioning from Rep. AOC said, “we made a decision two years ago to exit the two relationships that we had with two private prison firms.”

Migrant rights activists have been organizing against private prisons since the companies started to pivot to immigration services during the Obama administration. Over two-thirds of all migrants under detention sleep in private prison-operated beds.

Read the rest of the story HERE:

At inthesetimes.com

 

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Rob Kall is an award winning journalist, inventor, software architect, connector and visionary. His work and his writing have been featured in the New York Times, the Wall Street Journal, CNN, ABC, the HuffingtonPost, Success, Discover and other media. 

He is the author of The Bottom-up Revolution; Mastering the Emerging World of Connectivity scheduled for release May 22, 2019

He's given talks and workshops to Fortune 500 execs and national medical and psychological organizations, and pioneered first-of-their-kind conferences in Positive Psychology, Brain Science and Story. He hosts some of the world's smartest, most interesting and powerful people on his Bottom Up Radio Show, and founded and publishes one of the top Google- ranked progressive news and opinion sites, OpEdNews.com

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Rob Kall has spent his adult life as an awakener and empowerer-- first in the field of biofeedback, inventing products, developing software and a music recording label, MuPsych, within the company he founded in 1978-- Futurehealth, and founding, organizing and running 3 conferences: Winter Brain, on Neurofeedback and consciousness, Optimal Functioning and Positive Psychology (a pioneer in the field of Positive Psychology, first presenting workshops on it in 1985) and Storycon Summit Meeting on the Art Science and Application of Story-- each the first of their kind.  Then, when he found the process of raising people's consciousness and empowering them to take more control of their lives  one person at a time was too slow, he founded Opednews.com-- which has been the top search result on Google for the terms liberal news and progressive opinion for several years. Rob began his Bottom-up Radio show, broadcast on WNJC 1360 AM to Metro Philly, also available on iTunes, covering the transition of our culture, business and world from predominantly Top-down (hierarchical, centralized, authoritarian, patriarchal, big)  to bottom-up (egalitarian, local, interdependent, grassroots, archetypal feminine and small.) Recent long-term projects include a book, Bottom-up-- The Connection Revolution, debillionairizing the planet and the Psychopathy Defense and Optimization Project. 

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shad williams

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I suppose this is progress of a sort. Not. Read the statements from these too big to jail syndicates:

Last Tuesday, JPMorgan Chase, which has provided at least $254 million in debt financing to two private prison giants, CoreCivic and Geo Group, cut off that money spigot, stating "we will no longer bank the private prison industry."

Longer? Longer as of when? Liar.

By Sunday, U.S. Bank told the Washington Post that it had reduced its credit exposure to CoreCivic and Geo Group to "an immaterial amount."

Immaterial? This is similar to the amount of federal reserve largess that went to bail out main street as compared to banks and hedge funds. Immaterial, my ass.

And in congressional testimony this Tuesday, Wells Fargo CEO Tim Sloan, under questioning from Rep. Alexandria Ocasio-Cortez (D-NY), said, "we made a decision two years ago to exit the two relationships that we had with two private prison firms."

Two years ago?? Nevermind the decision, what is taking two years to actually exit funding criminal prisons cabal?

According to Wells Fargo spokesperson Jennifer Dunn, the bank has fully exited its credit agreement with CoreCivic, and plans to exit the agreement with Geo Group as soon as it amortizes and matures. Dunn gave no timeline for that exit. Wells Fargo had telegraphed this reduction in lending to private prisons in a business standards report it released in January.

So the greedy bastards wanted to wait until their agreements matured and they got paid. Then we are told there is no time line for the exit. Then we are told that they warned the community in a report regarding a "reduction in lending to private prisons." Probably to give them a heads up to unwind their immoral financial positions.

It is clear what sort of folks these bankers are: They are a bunch of lying bankers...but I repeat myself.

Submitted on Thursday, Mar 21, 2019 at 7:14:31 PM

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