The business of piracy
A pirate's life isn't for everyone. There's the risk of drowning, prison time and the low status. And the take-home wages can be lower than the bilge rats.
Tom Hanks stars in "Captain Philips," the new Hollywood blockbuster about a cargo ship seized by Somali pirates. The U.S. navy put a bloody end to that crisis. But a much more typical end is for the shipping companies to pay millions of dollars in ransom.
• How to negotiate like a Somali Pirate -- The Economist
Nearly 200 ships were hijacked off the Horn of Africa since 2005... earning pirates an estimated $400 million-dollars. What the pirates do with all that money has been something of a mystery ... until now.
• The Piracy Money Cycle -- The World Bank (pdf)
This segment was produced by The Current's Peter Mitton.
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