Speakeasy forum

General discussion

Piracy pays off for Somalis

by James Denison / January 1, 2010 6:11 AM PST

So does this mean if ill gotten gains help garner more gains that piracy will come to an end? Or will others seek to quickly enrich themselves in similar fashion, seeing no downside to it?


http://finance.yahoo.com/news/Pirate-cash-suspected-cause-apf-4158560253.html?x=0&sec=topStories&pos=2&asset=&ccode=

Kenya may be the most attractive spot for pirates to launder their money because it shares a roughly 500-mile (800-kilometer) border with Somalia and has investment opportunities and a large Somali community of up to 200,000 people, Mutua said.

In a neighborhood of Nairobi now called "Little Mogadishu" because of its Somali community, large business and apartment buildings have sprung up. A similar explosion of real estate development can be seen in higher-income areas of the city.

Somali pirates have been paid more than $100 million in ransoms the last two years, said Roger Middleton, a piracy expert at the London-based think tank Chatham House. The average ransom is also up, from $1 million per vessel a year ago to about $2 million today.

Discussion is locked
You are posting a reply to: Piracy pays off for Somalis
The posting of advertisements, profanity, or personal attacks is prohibited. Please refer to our CNET Forums policies for details. All submitted content is subject to our Terms of Use.
Track this discussion and email me when there are updates

If you're asking for technical help, please be sure to include all your system info, including operating system, model number, and any other specifics related to the problem. Also please exercise your best judgment when posting in the forums--revealing personal information such as your e-mail address, telephone number, and address is not recommended.

You are reporting the following post: Piracy pays off for Somalis
This post has been flagged and will be reviewed by our staff. Thank you for helping us maintain CNET's great community.
Sorry, there was a problem flagging this post. Please try again now or at a later time.
If you believe this post is offensive or violates the CNET Forums' Usage policies, you can report it below (this will not automatically remove the post). Once reported, our moderators will be notified and the post will be reviewed.
Collapse -
I heard they were spending their money
by JP Bill / January 1, 2010 9:41 AM PST

in the local economy and providing employment for the local population.

South Park (on the Comedy Network) also profited from the Somali pirates by having a show about them. (in fact I think they did 2 episodes) Devil

Collapse -
like asking if crime pays
by James Denison / January 1, 2010 3:33 PM PST

Of course it does.

It pays the detective who investigates the case
It pays the officer who arrests the perp
It pays the bails bond person who gets him out of jail before trial
It pays the prosecutor who pursues the case
It pays the defense attorney who takes the case
It pays the various secretaries who help the above
It pays the judge who hears the case
It pays the jurors who do their duty (but not much pay, that's for the other parts of all this)
It pays the court reporter who records the case
It pays the prison who incarcerates the convict
It pays the prison guards and record keepers
It pays the parole officer when the convict is released

Yes, crime pays.

Collapse -
It's ridiculous isn't it.
by MarkFlax Forum moderator / January 2, 2010 6:20 AM PST

Half the countries of the world have their navies stationed there, and they can't stop this. When they do manage to find pirates, they can't harm them without creating an international incident.

I seem to remember either NATO or the UN in Bosnia in the 90's. Sent to keep the peace, but still the Serbians massacred thousands.

Sure, I understand the ocean around there is large, but don't we have the technology to manage that?

We're failing there, and everyone else can see it.

Mark

Popular Forums
icon
Computer Help 51,912 discussions
icon
Computer Newbies 10,498 discussions
icon
Laptops 20,411 discussions
icon
Security 30,882 discussions
icon
TVs & Home Theaters 21,253 discussions
icon
Windows 10 1,672 discussions
icon
Phones 16,494 discussions
icon
Windows 7 7,855 discussions
icon
Networking & Wireless 15,504 discussions

REVIEW

Meet the drop-resistant Moto Z2 Force

The Moto Z2 Force is really thin, with a fast processor and great battery life. It can survive drops without shattering.