Aug 17, 2012 | 6:55Day 6 Day 6 - August 18 - Social Impact Bonds Audio
Day 6 Day 6 - August 18 - Social Impact Bonds Aug 17, 2012 | 6:55Goldman Sachs is getting into the prison business.
The firm is investing nearly $10 million over four years to help reduce the recidivism rate among young offenders at New York's Riker's Island correctional facility.
If the rate of offenders returning to prison drops by 10%, GS gets its money back. If the rate drops further, they'll turn a profit. If it doesn't drop by at least that amount, they lose money.
It’s known as a pay-for-success contract, or more formally, a Social Impact Bond.
Toby Eccles developed the concept. He’s the development director and co-founder of Social Finance in the UK.
Mar 31, 2012 | 19:00Day 6 CBC Day 6 - Migmer Tsering Interview in Tibetan (not translated) Audio
Day 6 CBC Day 6 - Migmer Tsering Interview in Tibetan (not translated) Mar 31, 2012 | 19:00Here's an uncut and untranslated version of our interview with Migmer Tsering. Last November, Migmer went to the Chinese embassy in New Delhi, India, and tried to set himself on fire. He survived and tells us his story. This extended edition appears without translation because we thought the Tibetan community would appreciate a fuller conversation.