Private Prison Business

The Muni Bonds In The Hardin Jail Project: Who Lost Money?

Justin Elliott | October 16, 2009, 1:41PM

Two Rivers Detention Center

We posted an investigative piece Monday about the back story on the empty jail in Hardin, MT, explaining how a consortium of companies made millions on the project that has netted exactly nothing for the struggling town.

But what about the $27 million in high-risk municipal bonds that were issued to fund the construction of the speculative jail in 2006 and 2007?

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