Feb parody video – or is it satire?

The economics blog, The Big Picture: “Every Change of Rate”, has posted a link to a parody video by Columbia business students on Fed Chairman Bernanke, set to the Police tune “Every Breath You Take”.
Here is the direct link to the video.
As Big Picture says, “Its a bit harsh on Ben Bernanke, who after all has only been in office for one FOMC meeting. Still, the overall effect is quite amusing!”
Very amusing, indeed. My only question is whether it is protected under the parody provisions of copyright law. I think it is closer to satire, which is less protected. If the whomever the owner is to the song’s copyright goes after these Columbia business students, they may learn an interesting lesson about the business world’s take on IPR.
And, who knows, at the rate things are going this could end up as yet another Supreme Court case.

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