I do not follow this "pirate" thing, nor do I know much about any GLBSE listed "assets".

However, please consider the following hypothetical GLBSE listed company.

Someone places BMMM IPO on GLBSE. The company does not disclose what they do, however they pay rather good dividends. Everyone is happy (for now).

What they do is the following, they convert BTC's into USD's and "invest" it into a piramide scheme http://en.wikipedia.org/wiki/MMM-2011 run by http://en.wikipedia.org/wiki/Sergei_Mavrodi that reportedly currently pays up to 50% per month of "dividends". BMMM pockets 30%, pays out 20% to their "investors". They also hope that with such "profitability" they will be able to accumulate enough money to buy out the shares once the "master ponzi" breaks down.

see also (google translate if needed) https://bitcointalk.org/index.php?topic=77316.0
and read up on to http://en.wikipedia.org/wiki/Stockholm_syndrome it might get applicable.

The above is a ponzi scheme by proxy which BTW is pretty close to what all the investment banks out there are doing with the central banks and ultimately the fed being the "master ponzi".