In the PSB New Hour's two-part series, Paul Solman, Business and Economics Correspondent, takes a look at the NYC social impact bond intended to reduce recidivism out of Rikers Island prison.
He speaks with Judith Rodin (President, The Rockefeller Foundation), Dora Schriro (Commissioner of the New York City Department of Correction), Alicia Glen (Managing Director, Goldman Sachs Urban Investment Group), Mark Rosenman (Director, Caring to Change), Jafar Abbas (Osborne Association), Karimah Nichols (Osborne Association), Susan Gottesfeld (Associate Executive DIrector, Osborne Association).
(Aired: April 9, 2013)
"Rikers Island prison houses 88,000 inmates a year, many of whom are repeat offenders. In an effort to decrease the teen recidivism rate, high finance and do-good innovation have made an unlikely partnership. Economics correspondent Paul Solman explores a new way to fund government social services through private investment."
(Aired: April 10, 2013)
"Economics correspondent Paul Solman reports on efforts to keep young people from returning to New York's Rikers Island once they've served their time. A privately financed pubic program utilizes evidence-based behavioral therapy to imbue teens with a sense of greater control over their lives and decisions."