Mitch Bainwol, Chairman and CEO of the Recording Industry Association of America, is seen in his office at the RIAA building September 25, 2003, in Washington, DC. (credit: Stephen J. Boitano/Getty Images) LOS ANGELES (CBS) — The Recording Industry Association of America is reportedly suing now-defunct music downloading service LimeWire for $72 trillion. Yes, we said trillion. “An award based on the RIAA calculations would amount to more money than the entire music industry has made since Edison’s invention of the phonograph in 1877,” Judge Kimba Wood states in documents filed at the U.S. District Court for the Southern District of New York. In the suit, the RIAA says more than 11,000 songs have each been illegally downloaded thousands of times. It’s seeking compensation for ... Continue reading →