( Cincinnati ) - City Councilman PG Sittenfeld says the city can do better, both morally and financially, when it comes to investing the pension fund.
Sittenfeld says he has the support of Mayor John Cranley and a majority of council in calling for the pension fund to pull all of its investments in private, for-profit prison companies.
Sittenfeld calls the private prison business "immoral and dangerous," and says there are plenty of other investment options that would generate the returns that private prison stock does. "Year to date: Netflix up 35%, Facebook year to date up 45%, Weight Watchers? Up 313% year to date."
The issue will have to be voted on by Cincinnati City Council.