Dec 3, 2009

Pirate stock exchange

Piracy is a lucrative business that has drawn financiers from the Somali diaspora and other nations -- and now the gangs in Haradheere have set up an exchange to manage their investments. (reuters)

One wealthy former pirate named Mohammed explains it best:  "Four months ago, during the monsoon rains, we decided to set up this stock exchange. We started with 15 'maritime companies' and now we are hosting 72. Ten of them have so far been successful at hijacking...The shares are open to all and everybody can take part, whether personally at sea or on land by providing cash, weapons or useful materials ... we've made piracy a community activity...Ransoms have even increased in recent months from between $2-3 million to $4 million because of the increased number of shareholders and the risks"
ht: freaknonomics

1 comment:

TomasH said...

Investment opportunity for RDB!!!