Google Chairman Eric Schmidt: Congress dead wrong on online piracy

"The problem with the two bills is that they go after all the wrong problems."

Google (GOOG) Executive Chairman Eric Schmidt said Wednesday that it would be a mistake for Congress to approve Hollywood-backed legislation meant to combat online piracy because it would be ineffective and could fundamentally alter the way the Internet works.

Companion bills before the House and Senate would allow copyright holders to go to court to compel credit card companies and online advertising companies, including Google, to cut off websites dedicated to distributing pirated material. Prosecutors would be able to get court orders forcing search engines to drop the sites.

By Chris Williams

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