CANNOT VERIFY - AT 3:50 P.M. ET:  We cannot verify this report from Bloomberg on the hostage situation, but felt it important enough to pass on to you:

April 11 (Bloomberg) -- A U.S. Navy negotiator and Somali pirates reached a tentative agreement for the release of Richard Phillips, the American ship captain held by them since April 8, a pirate said, adding that the deal might still break down.

“There were negotiations this morning between us and an American woman” from a U.S. warship in the area, a man calling himself Da’ud, who identified himself as one of the pirates, said today by phone from the area of Eyl, Somalia. “We agreed to release the captain and get back our four colleagues, but the process is still critical.”

The agreement would include the paying of a “small” ransom, Da’ud said, declining to be more specific.

There are also reports that a boat carrying U.S. Navy sailors trying to approach the lifeboat holding the hostage and his captors was fired upon, and had to turn back.  No further details.

Clearly, the administration is trying to get this captain out alive.  But then what?  If they succeed, and have paid ransom and made concessions, they only encourage the next hijacking.  We must get the captain out, then take some kind of punitive action that will make plain what punishment awaits pirates.  Will Obama have the stomach?  This will be fascinating to see.

April 11, 2009