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Jails prisoners bonds


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#1 philip

philip

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Posted 23 July 2006 - 11:37 AM

For every PERSON convicted of a statutary misdemeanour a bond is assigned to underwritr the time in prison and on probation. In the U S commenced by the Committee on uniform securities identification procedures. CUSIP Fidelity Management and Research and others sell the bonds as investment securities. Bonds have to be underwritten so there is surety to indemnify the bonds which they do through an investment banker or the banks themselves do it They (the courts) are charging a prisoner under a bond; the prisoners sign the bond, and the bond become the agreement for the payback, when the prisoner signs the final court papers at a sentencing hearing. Selling bonds financed WW II, a literal transfer of sweat equity of the people to fund the government, as people no longer, for whatever reason don't in general want to voluntarily buy the bonds. So in effect the taxpayer pays for the time in jail and the banks make a profit from the bonds the interest of which is also paid by the tax payer. If any one has more knowledge as to the particulars of how this is done in Canada or B C I would appreciate it. Philip



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