Reality check is in order. Where are we? And where would we like to be? The idea of a brokerage firm selling hollywood movie futures is so spectacularly interesting at this moment. Why invest in real companies? Why not bet upon a bit of reality shifting material? If one can buy a CDS on the US Government, why not Hollywood? Hollywood seems much more credible at the moment. And real. And necessary. With the coming Gloom and Doom, why, we need entertainment more than anything.
Because it is not right. We need to untangle any industry from the financial sector as clearly as it can be done. There is no point in rendering everything disfunctional (and prone to fraud?) by attaching it to the great entangled financial universe in such a way that is being proposed by the Hollywood futures idea. I am certain that in its time it seemed a jolly idea -- in fact, it was modeled on a folly. The Hollywood Stock Exchange already exists and has been trading in virtual dollars for years. A good honest bit of fun, rather than the parasite it would become if it were dealing in real money. But gosh...if it could become an honest folly and devote a portion of profits to charity - like healthcare for the screen writers guild or something? Missmarketcrash might like the idea again...
And way off topic - did you know there was an earthquake in Sweden today?
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