The stock prices of the two biggest private prison companies in the United States nosedived on Thursday after the Department of Justice vowed to stop housing inmates at their facilities.

It’s a significant blow to an industry that has spent millions lobbying for itself, but don’t expect this to put anyone out of business any time soon.

The Department of Justice announcement, following a report that found private prisons are less safe than federally run alternatives, only applies to the Federal Bureau of Prisons, which accounts for just a fraction of the private prison industry’s business. ...

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