Obama Team rewards Hollywood donors

The administration is focusing on helping its Hollywood pals make even more money. The Department of Homeland Security is stepping up its seizure of websites trafficking in illegal movie downloads (yep..the Department of Homeland Security. After all, who needs to care about Islamic extremism or terror attacks because, by definition, Islamic extremism does not exist and terrorism only exists in the Tea Party movement). But there is more, much more.Business Week reports: Hollywood may also get a big win in the pending financial reform legislation expected to pass later this summer that will reshape the regulation of derivatives. Tucked into the current version of the bill is a ban of futures markets in box-office ticket sales such as one planned by securities brokerage firm Cantor Fitzgerald. Hollywood fears such a market would harm the financial fortunes of some films."We feel like we've got the wind at our back," says Warner Bros. (TWX) Chairman Barry Meyer, one of...(Read Full Post)

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