20 October 2009, WASHINGTON, D.C.

After the subprime mortgage crisis following the bursting of the housing bubble, credit crunch and the consequent banking crisis which has resulted in economic slowdown all over the world, a fresh crisis has hit the world - illegal downloading crisis. Billions of songs worth trillions of dollars have been downloaded illegally by music-lovers all over the world over the years using P2P or torrent programs and file-sharing networks resulting in unrecoverable debts and bankruptcy of major recording companies.

How it began?

It began in June 2009 when a Minnesota woman, Jammie Thomas-Rasset was found guilty of violating music copyrights and ordered to pay $1.92 million or $80,000 per illegally downloaded...

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