Thursday, February 10, 2011

Piracy Games

Intriguing article - http://www.thestreet.com/story/10707445/1/the-pirates-toll-high-stakes-on-the-high-seas.html

Lots of intriguing & ironical sentences "An intrepid Reuters' stringer goes into a pirate stronghold -- "stronghold," with its whiff of the medieval, being a favorite word to describe the places where Somali pirates live -- and comes out with the news that there exists a kind of bandit stock exchange; it's possible -- so the story goes -- to buy shares in a gang of pirates. If your company of corsairs returns to shore with a ransom: dividend yield."


"Before the tube of cash parachuted into the water, ISEC's lawyers drafted an actual contract, signed by both parties, ship-owner and pirate gang. The irony was not lost on anyone: drafting a contract for the release of a thing from the very party that stole it from you."