Our country is in the midst of a bail crisis. On any given day, more than 400,000 people — mostly poor people and people of color — sit in jail because they can’t “buy” their freedom.
The exploitative system of cash bail directly fuels our mass incarceration crisis.
Unpaid bonds can trigger warrants, creating a cycle of debt and criminalization that is difficult to get out of.
Unpaid bonds can trigger warrants, creating a cycle of debt and criminalization that is difficult to get out of.
Many of the people held on bail have no choice but to turn to for-profit bail companies like Aladdin Bail Bonds, the self-described largest bail bond company in the country.
Like all for-profit bail bond companies, Aladdin is extremely exploitative.
Once someone enters into an agreement with the company, they become caught in a cycle of debt, even if the charge is later dropped.
Once someone enters into an agreement with the company, they become caught in a cycle of debt, even if the charge is later dropped.
Aladdin is owned by private equity firm Endeavour Capital. Since purchasing Aladdin in 2012, Endeavour has grown the company from three states to eight, with more expansions planned. It has also spent exorbitant amounts fighting bail reform in California and New Mexico.
The biggest investors in Endeavour Capital include three states’ public pension funds:
1️⃣ Washington State Investment Board
2️⃣ Public Employee Retirement System of Idaho
3️⃣ Oregon Investment Council
1️⃣ Washington State Investment Board
2️⃣ Public Employee Retirement System of Idaho
3️⃣ Oregon Investment Council
🗣For-profit bail isn’t even legal in Oregon.
The fact that taxpayer money props up Endeavour is completely at odds with state laws and values.
The fact that taxpayer money props up Endeavour is completely at odds with state laws and values.
Taxpayer money should not be used to prop up the for-profit bail industry. Public pension funds and university endowments need to divest from Endeavour.
State money should not be invested in companies that exploit their most vulnerable residents.
State money should not be invested in companies that exploit their most vulnerable residents.
We’re not the only ones paying attention to this issue.
@RepRashida asked about it at a Financial Services Committee meeting last month, entitled: Hearing for Sale? An Examination of the Practice of Private Funds.
@RepRashida asked about it at a Financial Services Committee meeting last month, entitled: Hearing for Sale? An Examination of the Practice of Private Funds.
Read more about in our latest report on the profiteers who make money exploiting poor people via the for-profit bail industry. aclu.org/report/profiti…
