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(io9) Interesting Somali pirates diversify activities with savvy real estate investments. Seriously, that's what they're doing   (io9.com) divider line 70
More: Interesting, Somali, Somali pirates, largest economy, investment strategy, East Africa, housing prices, homework, circumstantial evidence  
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10149 clicks; posted to Main » on 05 Jan 2010 at 6:09 PM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»   |    Get this fabulous T-Shirt and impress the methane out of your friends! shirt it!



70 Comments   (+0 »)
   

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vernonFL [TotalFark]
2010-01-05 05:37:35 PM
Criminals are investing in real estate.

Welcome to Miami in the 1980s.
 
UNC_Samurai
2010-01-05 05:39:32 PM
They're getting advice from Wu-Tang Financial?
 
chemical_angel
2010-01-05 05:53:37 PM
savvy?

i731.photobucket.com
 
MaxxLarge [TotalFark]
2010-01-05 06:01:20 PM
Great move, guys. Real estate is the one investment guaranteed never to depreciate.

Wait, what?
 
Gyrfalcon
2010-01-05 06:11:56 PM
No one said pirates didn't know the value of booty.

I'm not sure why that's relevant.
 
8Draw
2010-01-05 06:13:11 PM
saw the article headline and laughed. really thought this was going to turn out to be a pun or something.
 
Pay the Man
2010-01-05 06:16:33 PM
gcaptain.com

0 for 2 against 'Bama AND investing in real estate? Laying the grounds for the next major US bailout?
 
Rent Party
2010-01-05 06:17:46 PM
They're going to end up running the banking system shortly.
 
tuffsnake
2010-01-05 06:17:48 PM
That's how we can take them out! We'll just lure then into a bunch of investments and then pwn the economy again and no one will be the wiser!!
 
Calvin Butterball
2010-01-05 06:20:32 PM
I outbid them for Boardwalk, but lost out on Park Place.

/Bastards
 
feanturi
2010-01-05 06:20:35 PM
Do their ships look like this?

www.humorlinks.com
 
Pay the Man
2010-01-05 06:21:19 PM
feanturi: Do their ships look like this?

WIN!
 
CygnusDarius [TotalFark]
2010-01-05 06:21:36 PM
Wait till they find out about ninja mortgages.
 
ivan [TotalFark]
2010-01-05 06:22:10 PM
Good, more negative feedback. Global Warming is pretty much over.
 
KarmicDisaster
2010-01-05 06:22:28 PM
I know! Let's securitise some sub prime mortgages and sell them to them!
 
sylos
2010-01-05 06:24:02 PM
See and what will happen is that eventually the strongest pirates will be asked to act as "guards" for the properties and eventually a Utopian society will erupt from Somalia! We're seeing the birth of a new nation!
 
texdent [TotalFark]
2010-01-05 06:25:35 PM
Parlay?
 
maniacbastard
2010-01-05 06:29:35 PM
Avast me option of a 80/20 mortgage went down to Davy Jone's locker. I'll be spendin' me booty on the goddamn PMI, Arrrrrgghh!
 
hairywoogit
2010-01-05 06:34:47 PM
They are buying property in Kenya. It is a bit of a step up, but not much. It will get fun when the government of Kenya decides to get all corrupt-y again and take it all away from them.
 
lindseyp [TotalFark]
2010-01-05 06:37:00 PM
They already made their own stock exchange. It was only a matter of time before they started diversifying. I wonder how long till they have their own financial meltdown.
 
wumpinton
2010-01-05 06:37:14 PM
z.about.com
 
006andahalf
2010-01-05 06:38:27 PM
hairywoogit: They are buying property in Kenya. It is a bit of a step up, but not much. It will get fun when the government of Kenya decides to get all corrupt-y again and take it all away from them.

No Kenyan would conscion the idea of taking one's earned property to give to others...
 
Leskay
2010-01-05 06:39:42 PM
Makes perfect sense. So much beautiful ocean-front land in Africa. Pity about the out-of-control animals living there.

I presume we're talking about Somali real estate? DNRTFA.
 
wiregeek
2010-01-05 06:40:07 PM
From TFA: "so my future lies there, not in the piracy industry."

Piracy _industry_? WTF, over?
 
Pay the Man
2010-01-05 06:40:08 PM
lindseyp: They already made their own stock exchange. It was only a matter of time before they started diversifying. I wonder how long till they have their own financial meltdown.

They may do well if they invest in Maersk.
 
BlorfMaster
2010-01-05 06:42:47 PM
Shoot, instead of dumping money on to the 'leaders' give it to the pirates, they seem to know what to do with it.
 
m1ke
2010-01-05 06:43:21 PM
They are getting investment advice from Dubai.
 
yada
2010-01-05 06:47:11 PM
http://www.youtube.com/watch?v=ehweLPluNpY
 
jake_lex [TotalFark]
2010-01-05 06:48:54 PM
www.hbo.com

Willing to help them get their permits

/sheeeeeeeeeeeeeeeeeeeeit
 
graham_paige
2010-01-05 06:49:32 PM
Ok, so they have a stock market. Can you sell short?

If so, when you get a call is that a booty call?
 
Psumek
2010-01-05 06:51:16 PM
That's good reporting there io9. Seriously io9? I almost thought it was some re-envisioning from a comic book author but they are serious. Who'd a thunk it.
 
WFern
2010-01-05 06:53:11 PM
vernonFL: Criminals are investing in real estate.

Welcome to Miami in the 1980s.

media.giantbomb.com
 
RedThree
2010-01-05 06:57:44 PM
wiregeek: From TFA: "so my future lies there, not in the piracy industry."

Piracy _industry_? WTF, over?

Crime is a business.

Pro: You get paid more
Con: You could go to jail / die.

Look at Lumberjacking / coal mining. Higher risk of being killed, higher pay.

"profit" and "legality" are completely separate concepts.
 
theorellior [TotalFark]
2010-01-05 06:58:16 PM
It happens in every industry. Privateers morphed over time into peers of the realm; claim jumpers became upstanding mayors and aldermen; strike busters turned into benevolent philanthropists; and plutocrats endowed libraries and orphanages. The problem with getting pirate loot is that you have to hold it to enjoy it, and the best way to hold it is to get rid of the other pirates. If the Somali pirates start finding themselves to be landholders, they'll suddenly start taking a new interest in police, fire service and enforceable contracts.
 
SweetDickens
2010-01-05 07:00:28 PM
The Kennedy's doff their hats to the newest.
 
Leskay
2010-01-05 07:03:06 PM
theorellior: It happens in every industry. Privateers morphed over time into peers of the realm; claim jumpers became upstanding mayors and aldermen; strike busters turned into benevolent philanthropists; and plutocrats endowed libraries and orphanages. The problem with getting pirate loot is that you have to hold it to enjoy it, and the best way to hold it is to get rid of the other pirates. If the Somali pirates start finding themselves to be landholders, they'll suddenly start taking a new interest in police, fire service and enforceable contracts.

huge!
 
Rodddxl
2010-01-05 07:05:09 PM
FTA: Real estate...prices in the Kenyan capital Nairobi have doubled or even tripled in the last five years.

So a three bedroom cardboard box is up to what? Five...Six bucks?
 
Leskay
2010-01-05 07:08:02 PM
RedThree: Look at Lumberjacking / coal mining.

Look at my balls.
 
Jacobin
2010-01-05 07:12:30 PM
Not sure how this is different from Countrywide.
 
WFern
2010-01-05 07:14:07 PM
RedThree: wiregeek: From TFA: "so my future lies there, not in the piracy industry."

Piracy _industry_? WTF, over?

Crime is a business.

Pro: You get paid more
Con: You could go to jail / die.

Look at Lumberjacking / coal mining. Higher risk of being killed, higher pay.

"profit" and "legality" are completely separate concepts.

"Face it, if crime did not pay, there would be very few criminals." - Laughton Lewis Burdock
 
RedThree
2010-01-05 07:14:23 PM
Leskay: RedThree: Look at Lumberjacking / coal mining.

Look at my balls.

I would if they weren't constantly obscured by your mom's lips.
 
TaGirl_Keri
2010-01-05 07:19:11 PM
I for one welcome integrity back to the real estate markets.
 
ghostofreasonpast
2010-01-05 07:20:49 PM
Holy crap, the Somali Pirates have a better economic outlook then America does now. Time to buy a boat.
 
Dear Jerk
2010-01-05 07:27:44 PM
Where is your Freakonomics naysayer now?
 
Pay the Man
2010-01-05 07:28:04 PM
ghostofreasonpast: Holy crap, the Somali Pirates have a better economic outlook then America does now. Time to buy hijack a boat.

FTFY
 
farked3ways2sunday
2010-01-05 07:40:04 PM
You kidding me? I've known about this for a long time. Somali warlord are better investors than most in America, especially in real-estate. Why steal shiat when you can own all the land and steal money in rent.
 
Leskay
2010-01-05 07:55:21 PM
RedThree: Leskay: RedThree: Look at Lumberjacking / coal mining.

Look at my balls.

I would if they weren't constantly obscured by your mom's lips.

win
 
Bomb Mecca
2010-01-05 07:58:13 PM
We should get the last laugh by letting the hijack victims press the button on the drone that shoots a missile into their new mansions.
 
j_moriarty
2010-01-05 08:02:35 PM
I'm shocked: criminals don't want to be criminals and will take the first out they can get? What's next: poor people who don't want to be poor?!

/I'll be in my troll bunk
 
Gyrfalcon
2010-01-05 08:12:08 PM
farked3ways2sunday: You kidding me? I've known about this for a long time. Somali warlord are better investors than most in America, especially in real-estate. Why steal shiat when you can own all the land and steal money in rent.

Worked in Feudal Englande. Next these guys will be building castles and jousting each other on camels.
 
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