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Date: April 30, 2024 Tue
Time: 1:07 am
Time: 1:07 am
Results for police brutality bonds
1 results foundAuthor: Goodwin, Alexandra Title: Police Brutality Bonds: How Wall Street Profits from Police Violence Summary: As the costs of police misconduct rise, cities and counties across the United States are going into debt to pay for it. Often this debt is in the form of bond borrowing. When cities or counties issue bonds to pay these costs, banks and other firms collect fees for the services they provide, and investors collect interest. The use of bonds to pay for settlements and judgments greatly increases the burden of policing costs on taxpayers, while producing a profit for banks and investors. Using bonds to pay for settlements or judgments can nearly double the costs of the original settlement. All of this is paid for by taxpayers. We call the bonds used to cover police related settlement and judgment costs "police brutality bonds", because they quite literally allow banks and wealthy investors to profit from police violence. This is a transfer of wealth from communities-especially over-policed communities of color-to Wall Street and wealthy investors. The companies profiting from police brutality bonds include well known institutions like Wells Fargo, Goldman Sachs, and Bank of America, as well as smaller regional banks and other firms. In our research into the use of police brutality bonds, we found that cities and counties across the United States issue bonds to pay for police brutality settlements and judgments. The cities range from giant metropolises such as Los Angeles to smaller cities like Bethlehem, Pennsylvania. Our report includes details on police brutality bonds in twelve cities and counties, including five in-depth case studies: Chicago, Los Angeles, Milwaukee, Cleveland, and Lake County, Indiana. Details: s.l.: Action Center on Race & The Economy, 2018. 40p. Source: Internet Resource: Accessed July 10, 2018 at: https://static1.squarespace.com/static/58d8a1bb3a041137d463d64f/t/5b330815562fa7d3babc1fd4/1530071089421/Police+Brutality+Bonds+-+Jun+2018.pdf Year: 2018 Country: United States URL: https://static1.squarespace.com/static/58d8a1bb3a041137d463d64f/t/5b330815562fa7d3babc1fd4/1530071089421/Police+Brutality+Bonds+-+Jun+2018.pdf Shelf Number: 150805 Keywords: Police BrutalityPolice Brutality BondsPolice MisconductPolice Use of Force |