No, this is not about health care.

The news site UN Dispatch has a fascinating article on the financial structure of Somali piracy, which is summarized below:

When ransom is received, fixed costs are the first to be paid out. These are typically:

• Reimbursement of suppliers

• Financiers and/or investors: 30% of the ransom

• Local elders: 5 to 10 %of the ransom (anchoring rights)

• Class B shares approx. $15,000 each: militiamen, interpreters etc.

The remaining sum — the profit — is divided between class-A shareholders [the pirates].

It’s no surprise that ransom demands are pretty high.

What baffles me is: How can all this be legal, without first being elected to Congress?

via The Somali Pirates’ Business Model | UN Dispatch.

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