Wednesday, December 02, 2009

Pirates float an equity issue

Yes it is now possible (in some parts anyways) to buy stock in the Pirates! No, not the Pittsburgh Pirates. The Somali pirates of course. They have floated shares. (got to love the bad pirate humor!)

From the Marginal Revolution

Who says there's a credit crunch?

Somali pirates are raising money through a local equity offering:

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.

Great as a teaching tool, but maybe, just maybe a tad illegal?

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