REPORT: Wall Street and the wealthy profiting from police violence

AmNews Staff Reports | 7/25/2018, 9:14 a.m.
Most American cities and counties routinely buy bonds to cover the millions of dollars needed for settlements and judgement costs ...
Dallas police shot and killed a mentally ill man who was holding a screwdriver and the incident was caught on video via a police body cam. Police arrived at the victim, Jason Harrison’s, home after his mother, Shirley Marshall Harrison, called to request assistance getting her son to the hospital. Harrison's family has filed a wrongful death lawsuit against Dallas Police Department officers John Rogers and Andrew Hutchins. YouTube

Most American cities and counties routinely buy bonds to cover the millions of dollars needed for settlements and judgement costs after police killings and police misconduct. But in a twist that reflects the type of rapacious capitalism that now occurs regularly in this country, bankers and investors have been profiting from police violence.

A report released last month by the Action Center on Race & the Economy (ACRE) Institute found that a number of cities and counties paid out $1.87 billion for what activists describe as police brutality bonds, and corporate titans like Bank of America, Wells Fargo and Goldman Sachs made more than $1 billion in profits for investors who buy these bonds.

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