This is absolutely insane.
Basically what the RIAA is saying is that the Russian website, AllofMP3.com, has caused $150K of damages for each of the 11 million mp3s that have been downloaded from that site.
How this is possible in the era of 99c dowloads is beyond me. That's a max of $11M in damages, besides, the RIAA would only get a portion of the 99c from each song from iTunes.
This is ridiculous.
OK, they were selling IP that they didn't compensate the rightsholders for. True.
But $1.65 trillion dollars? This sounds like something Dr Evil would threaton. Just to compare, Canada's 2005 GDP was $1.11 trillion dollars. So that's the entire economic output of our great nation for one year's worth of damages done by one website.
Insanity.
http://www.zeropaid.com/news/8175/RIAA+sues+AllofMP3+for+$1.65+trillion