Thursday, December 03, 2009
We take this Reuters story on the Somali piracy stock exchange with a grain of salt, but the similarity with how pirates on Wall Street operate did not escape us. Pool resources with friends and family and private investors to create the administrative infrastructure to steal resources from others, arm yourselves to guard against reprisals, and subvert the ability of centralized governments to counter corruption. Maybe someday the Somali pirates -- like their Wall Street counterparts -- will succeed in placing their man in their White House, thereby consolidating their ill-gotten gains. After all, isn't that the real American dream?