This article's (Mike Masnick, TechDirt) summary and analysis is good enough that I don't feel the need to add too much more. I'll leave it at the fact that copyright needs to be abolished or dramatically reduced in term and scope in order to prevent these horrible economic actions from occurring.
On a semi-related note, both France and Germany are recommending users to move away from all versions of Microsoft's Internet Explorer. I fully support this decision; it will be less painful to users surfing the web and developers creating webpages.
