Bailout Funds Recipient Goldman Sachs Invests in New York City Jails Program

August 5th, 2012

Via: Reuters:

Goldman Sachs will invest nearly $10 million in a New York City jails program, using an innovative financial instrument in which private investments fund public social services, Mayor Michael Bloomberg said on Thursday.

Goldman will create one of the nation’s first “social service bonds” to help fund a New York City program that aims to lower the 50 percent recidivism rate among youthful offenders jailed at the Rikers Island correctional facility.

Unlike similar proposals being developed elsewhere, most of Goldman’s ‘Rikers bond’ will be guaranteed by Bloomberg Philanthropies, the mayor’s philanthropic group, which will back $7.2 million of the $9.6 million investment the bank plans.

Posted in Dictatorship, Economy, Elite, Police State, Social Engineering | Top Of Page

One Response to “Bailout Funds Recipient Goldman Sachs Invests in New York City Jails Program”

  1. dale says:
    August 6, 2012 at 5:06 am

    If the recidivism rate drops to 49 percent, then the publicly stated objective is met. The lord does work in mysterious ways. And here his worker’s social service bonds will be guaranteed by Bloomberg Philanthropies. No mixed metaphors at least; pretty smooth really.

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