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Obama’s Social Impact Bonds: Private Money, Public Benefit

President Obama's Social Impact Bonds Could Be a Good Fit for Maryland

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.

The above excerpt was originally published in The Baltimore Sun.