Five Dumbest Things on Wall Street: July 31
Chinese Take-Out Gamers
NEW YORK (TheStreet) Watch out Don Corleone. The Chinese government is trying to whack you.
China is banning Web sites from advertising games that glamorize violence such as Electronic Arts' (ERTS) bestseller The Godfather, according to a notice posted on the Culture Ministry Web site on Monday.
Details were not given as to how the law would be enforced. Nevertheless, the notice specifically called for law enforcement agencies to severely punish any sites that "undermine morality and Chinese traditional culture."The government is ramping up its censorship campaign against "spiritual pollution" in order to ensure stability ahead of the 60th anniversary of communist rule on Oct. 1. Apparently, this includes video games that promote drug use, obscenities, gambling or crimes such as rape, vandalism and theft. "Such online games promote the glorification of mafia life ... and are a serious threat to the moral standards of society causing vulnerable young people to be adversely affected," said a report from the Culture Ministry carried on the Xinhua news agency. Wait a darn minute here! Are they saying Take-Two's (TTWO) Grand Theft Auto franchise is anything but wholesome, clean family entertainment? How dare they? China has the world's largest population of Internet users, more than 298 million, so American video-game makers are willing to swallow a whole lot of censorship in order to sell units. Activision Blizzard (ATVI), for example, is partially relaunching its massively popular online game "World of Warcraft" in China this week after switching network operators and tweaking some content to appease Chinese censors. Blizzard previously changed skeleton characters to characters with normal human bodies at the request of the government. "These games encourage people to deceive, loot and kill, and glorify gangsters' lives. It has a bad influence on youngsters," the notice said. And blocking online videos of the Tiananmen Square massacre sends a positive message? Yeah, right. Dumb-o-meter score: 95 -- China needs to stop playing games with free speech.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV