Saturday, July 17, 2010

New When Falls the Coliseum Posting -- Ban on Movie Futures Trading an Important Step in Protecting a Vital Industry

I wrote a hard-hitting piece on the ban against Movie Futures Trading that was contained in the recently-passed financial reform bill. The first few sentences:
The recent financial reform bill that passed the House and Senate was so important that even the people who created it don’t know exactly what it will do. And we can debate all day what’s the most important part of the bill, but I’d like to suggest that it’s the ban on the despicable practice known as “Movie Futures Trading” (MFT) that will have the most positive affect on the country.

MFT is the process by which people bet on how much money a work of art - a film - will “earn” at the box office. Much as the stock market speculators nearly caused the collapse of our entire financial system, so to does this crass gambling enterprise threaten the very foundation of an industry that is vital to our economy and to our standing in the world.

The entire thing can be read here.

There might be no way of accurately measuring the negative effect that Movie Futures Trading could have on Mel Gibson’s upcoming film, “The Beaver.”

1 comment:

shampoo said...

yeah... not that long ago, no one knew that mel gibson's career would be over before the end of the summer. in fact, the value of his catalog has probably severely dropped as well.