In the latest federal bailout of a failing business, Paste has obtained documents through the Freedom of Information Act wherein the RIAA requests an influx of capital to keep the music industry from collapsing.
According to the documents, attorneys for the Big 4 music companies argue that if the government is willing to take steps to protect Bear Stearns, Freddie Mac and Fannie Mae and AIG, who are only suffering because of their own risky investments and bad decision making, then it should do the same for other poorly run businesses.
"Look, you want to talk about your subprime investments—we put out a
new Mötley Crüe album. We put out a Jessica Simpson country album," an
industry attorney writes. "We believe those more than compare to any
no-down-payment, no-credit-check packaged derivative when it comes to a
stupid use of shareholder money."
The filing states that, in much the same way segments of the financial
sector refused to acknowledge market forces when considering potential
buyouts and write-downs and invested in products it didn't understand,
the music industry consistently avoided properly pricing CDs and
downloads and didn't understand how the Internet changed its business
landscape.
The RIAA also warns that if the music industry implodes, it could cause a ripple effect through the economy.
"If the music industry collapses, the next domino would be local FM
radio. Do you know the fear and panic that would be caused by having
10,000 morning drive-time DJs out roaming the streets?"

hahaha very fucking funny. Next time pick on a band who doesn't own their own masters, and doesn't have their bass player as the president of the lucrative record label that they're on. Motley Crue may get shit on by the media and critics, but they're laughing all the way to the bank. Sorry to burst everyone's bubble, but Nikki Sixx is smarter than most people.
The truth is there will be no music business until we get rid of the RIAA, CRB
and Sound Exchange!
They do not adapt to new resources like internet as they want to control all the music choices with a few priveleged artists that they have the power to profit from on the main corporate labels: Warner, Sony, EMI, BMG etc.
The citizens world want choices not centralization from the 4th Reich and the Rothchilds and the like who are pulling all the puppet strings on all the political fronts and the leaders,presidents and govenors of the worlds countries!
The last thing we need is the government bailing out the corrupt and outdated music industry!
Pretty soon we'll be like Red China the government will own everything in the USA declare the country a communist state
and assign everyone duties to look after the state!
The powers that be are using fear to persuade people that these failing formerly credible business models need govt. money to prop them up or the costs could be higher to us!
B.S.
Now the music industry is going to jump into the windfall!
Get some free tax payers money!
Why not they no longer sell CDs or music and are not business savy enough to sell mp3's or ipods the mode of music the public has chosen, however the music industry hates these mediums, because they want to be able to sell the music and resell it for each and every medium, that is why they don't want the public to be able to copy their already purchased music!
Heaven forbid now the music industry has found a way to bail out of their self inflicted business failure buy letting the US govt. buy them out thus being rewarded the tax payers money as a buyout package for the corrupt music industry execs!
How nice the Govt. and taxpayers will give the RIAA, CRB, Sound Exchange an out after committing theft and corruption,destruction and interruption of countless lives under a legalized guise of an industry called the Recording Industry Association of America!
This article IS a joke right? A snide joke at Motley Crue and Jessica Simpson's expense, but a joke nonetheless, right? It better be, cause if it's not then everybody in the country better be getting something from the Fed.
Hilarious! The funniest things are usually so because they are uncomfortably close to the truth.
it's hard to object to the government's mass bailouts as similar debt-producing methods were put into action to bring the U.S. out of the Depression... our economy has been supported and driven by debt ever since
Conspiracy, Bribery, Unjust Enrichment, and then insulting,disrespecting America with a $500,000.00 party. No fear of the Law. Most of Congress and All CEOs bailed Out Have Conspired ,been bribed and received Unjust Enrichment and think American cannot or will not Demand the laws to be enforced so justice can be served. America are you ready? I am. To save America ,our children future we have been given no choice but to take the Law in our own hands. The criminals boldly boast on TV and I quote "many are to Blame". In Law terms that is called a Conspiracy. Look in any Law dictionary. I quote " from Congress them self "this Bail Out is bribery" Looked it up. Here I did it for you.
Black's Law Dictionary as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in discharge of a public or legal duty. UNJUST Enrichment; The Court of Law; Knowledge is immaterial under the law of unjust enrichment
Wed, 4 Jan 2006 17:23:00 -0500
Re: Unjustly enriched executive
"Former HealthSouth Corp. chief executive officer Richard Scrushy has been
ordered by a judge to repay his former company more than $47.8 million in
bonuses, according to published reports. ... Judge Allwin E. Horn III of
Jefferson County Circuit Court in Birmingham, who made the ruling as part of
a summary judgment in a shareholder lawsuit, determined that Scrushy is not
entitled to the payments whether or not he participated in the fraud or knew
about the scheme."
"While the company initially reported profits during the period, Horn wrote,
HealthSouth really lost money, making Scrushy and other executives
ineligible for any bonuses."
'Knowledge is immaterial under the law of unjust enrichment,' the judge
reportedly wrote. 'Scrushy was unjustly enriched by these payments to the
detriment of HealthSouth. And to allow Scrushy to retain the benefit of
these payments would be unconscionable. America 1 firm has 200 CEOs at $200,000,000.00=$40,000,000,000.00 Unjust Enrichment in 1 firm. Just 10 firms plus Congresses unjust enrichment= $600,000,000,000.00. Americans Are being B.S. by disrespectful dishonorable pieces of SH-T. They think America is to stupid to the point they would throw a $500,000.00 party and boast what they have done wright on TV. Then after all that the Bastards are giving the perception the mess is because of American mortgage defaults. Total B.S. Look if Evey default mortgage was complicated with $500,000.00 it would only total $400B. Yes that is how much they have robbed our children. Our troops has been fighting while Congress has made ling treason statements against them. Congress has enbolden the enemy many time and has done there best to stop the funding for are military. They have caused more damage then the enemy. Crying about the Jet is not big enough, he got more than me, its his fault no her fault. Votes based literally on bribes. Eye to Eye , Law to Law Any true American can kick them back to H-ll. B.S. Just try Me. My family Single Father with 5 and 10 year old are Victims and not one Attorney or consumer group dare help us. With Gods Help I had a investigation done Charges file , Indictment Filed and the SUB plead Guilty to Criminal Fraud. Congress and Most law maker commit perjury the very first time they take the Oath. Fact Mandatory Arbitration hides in consumers contract taking away one right to the constitution. Now Look up the Oath. So Help Me God. I am just a Poor Sinner but know better than to think I could get away with lying to God. I my not have money but I will show my children when fighting for Honor, Respect and the righteous one has no fear. They are corrupt and America is stupid or they are corrupt and stupid because America Demand Justice. The number show Justice of the law would recover $300B from Ceos $100B from Unjust congress And Save $200B of more congress corruption. Plus Honor And Respect would shine on America once More