Somali sea gangs lure investors at pirate lair | Reuters
Via Planet Money. I’ll bet there are investors who are shareholders in both the piracy and the shipping insurance companies. Piracy as a bubble?In Somalia’s main pirate lair of Haradheere, the sea gangs have set up a cooperative to fund their hijackings offshore, a sort of stock exchange meets criminal syndicate.
…“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.”
