From the Washington Post:

The usual litany of fears are trotted out.

Among Monday's petitioners siding with the entertainment companies were the Association of American Publishers, Screen Actors Guild, Recording Artists Coalition, National Basketball Association and the commissioner of Major League Baseball, Marks said.

The sports leagues contend that if the court does not weigh in on file-sharing, programming that they license could wind up being disseminated online without their permission, sapping sales.

A watermarking system with payment via the amount of content downloaded could ensure that sales are not sapped through downloading.

In all, 41 state attorneys general also submitted briefs. They argued file-sharing programs pose risks to consumers, such as identity theft and being unwittingly exposed to spyware and child pornography, Marks said.

I wonder if there are any other risks that file sharing poses. What about cancer or diabetes? What about losing a sock in the wash?

This doomsday stuff is really out of hand. Nearly every innovation in content creation and distribution has contributed to a radically larger market for creative content and distribution. To be sure, the winners and losers won't always be the same, but come on - it's not like you can replace the Red Sox.