Social impact bonds link the private, public and nonprofit sectors to deliver cognitive behavior therapy at Rikers Island. So are social impact bonds driving the efficient use of taxpayer dollars? Or is this a financing model easily exploited by corporate tax-dodgers like Goldman Sachs?
Social impact investing is a win-win for everyone, right? Not so fast, argues Mark Rosenman. It’s a bigger win for the private investors like Goldman Sachs. Through impact investing, the bank profits from human services that their taxes, if they paid them, would be funding. Continue reading
Ten large U.S. banks have been cleared by the Treasury Department to start repaying $68 billion in bailout money and begin to free themselves from an extraordinary government intervention program that began amid the global financial crisis. Continue reading