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>> WALL STREET Latest News

JAN 01, 2014 - Zero Hedge

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Wall Street's Latest Investment: Ex-Convicts

Either the Volcker Rule is making Wall Street's menu of investment choices so unbearably limited, or traditional assets are so overpriced Wall Street won't even touch them with other people's money, but when it comes to allocating capital the smartest conmen in the room are coming up with some truly unorthodox products. Such as investing in ex-convicts in the form of 2000 newly released prisoners. According to Reuters, Merrill Lynch and U.S. Trust reached out to some high-powered clients this quarter to invest in a social-impact bond whose proceeds finance a program to lower recidivism ... Read More

Tags: Wall Street's Latest Investment: Ex-Convicts,  Wall Street Latest News