Record labels demand all the money in the world. Literally

Here’s one for fans of idiocy and greed: in their case against file sharing network LimeWire, record labels are demanding sums of money that could exceed $75 trillion.

The entire planet’s gross domestic product is $69 trillion per year.

What are they thinking? Let The Register explain.

The idea that the industry could ask for trillions in damages apparently springs from a previous success against Usenet in 2009, in which copying of a relatively small number of works (878) was multiplied by the maximum penalty to arrive at a damages bill close to US$6.6 million.