New York City will try to reduce the recidivism of young male convicts housed on Rikers Island with a four-year program run by nonprofits and financed by Goldman Sachs Group Inc...

...For Goldman Sachs to earn a profit, the program will need to reduce recidivism by at least 10 percent. City payments to MDRC, a nonprofit social-policy group created by the Ford Foundation that will monitor and run the program, also will be based on its degree of success. The Vera Institute of Justice will independently assess the program’s effectiveness, the mayor’s office said...

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