By now you’ve probably heard that the US Congress has approved two different film future exchanges, (i.e. commodity exchanges). Variety, among others, have been covering the story in what we have to recognize as an inflammatory way (then again, why should they not be like the rest of the media).
The press has uniformly been very biased in the way the story is told, always positioning the exchages as “a gamble” and a haven for speculation. Sure, I suspect that these exchanges will prove to be a very disruptive influence, but that does not mean they are shouldn’t be allowed. And yes, I am all in favor of far greater government supervision of our financial industries, but again that does not mean new mechanisms shouldn’t be given a chance. There is a great deal more to the story of these exchanges that needs be put on the table, as they offer us many benefits beyond what the press would have us understand is a simply another opportunity to gamble.
I am grossly disappointed in the lack of action from film industry leaders to do anything to help to establish a sustainable investor class for the entertainment industry.
