Obama’s Social Impact Bonds: Private Money, Public Benefit
President Obama's Social Impact Bonds Could Be a Good Fit for Maryland
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And now for something completely different: an exotic financial instrument designed to help vulnerable Americans — not drive them into foreclosure.
Today, the White House plans to ask Congress for permission to conduct a $100 million test of "social impact bonds," a promising, experimental investment scheme out of England designed to get better results from publicly funded social services by harnessing the discipline of the private market.
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This article was originally published in The Baltimore Sun.
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