Sunday, November 2, 2008

Update on the Somali Pirates...

So I'm fascinated by this modern day piracy story out of Somalia. Here's a BBC article on the standoff over the Ukranian vessel these pirates seized A MONTH AGO. Obvi they decided not to blow it up. They shouldn't have cried wolf so early on, but I also think Russia hasn't caved because they realize what a posh existence these pirates are used to. I'm betting the pirates will lose this one though I'm secretly rooting for them.

Apparently, I'm not the only one who is mesmerized. Here's the NYTimes human interest piece and slideshow on this soap opera.
What is really interesting is that piracy has become so lucrative that some of
“the immutable clan lines that have pitted Somalis against one another for
decades” have broken down in the face of profits.

Ah, the almighty dollar.

1 comment:

Allison said...

I also love the Somali pirate drama. But, then again, I love everything about pirates. I'm really excited about Peter Leeson's econ book about pirates.