Bambi Francisco has a great article at MarketWatch called "Copyright Irony" that perfectly captures the corporate dilemma created by the MySpace's copyright infringement. Peter Chernin is the president and chief operating officer of News Corp., the parent company of MySpace. Francisco takes us back to February of 2002 and testimoney Chernin made before the Senate Commerce, Science and Transportation committee:

""The wholesale disregard of copyrights would be devastating to employment and job creation in the U.S., and to any chance of making the Internet a boon to us all."

Read his full testimony here (PDF).

Chernin is, as the EFF's Fred von Lohman said in the article, "a copyright hardliner and the father of the 'broadcast flag.'" Francisco's argument is that News Corp. will settle with Universal Music Group rather than (a) try to ammend the Digital Millennium Copyright Act or (b) put Chernin's "high principles" on the witness stand.

More on Chernin: Senator Patrick Lehay called "wrong-headed" the suggestion by Chernin and other executives that the federal government create an agency to handle digital rights management systems.