In a bid to avoid the lowest presidential approval rating in 70 years*, President Bush signed the PRO-IP Act into law today. While not quite on par with, say, an ultimate solution to the world economic crisis, the law will create new jobs, er, one new job: The Intellectual Property Czar.

Backed by the RIAA and MPAA, the PRO-IP Act has drawn criticism for its potential for extreme punishment. In its proposed state, the act could grant the government permission to seize all computers and compatible devices from a home if a single, pirated MP3 was discovered on one of the machines. So, about that approval rating ...

For a complete analysis of the PRO-IP Act as it applies to gaming, check out the latest LGJ column!

*Bush has sunk below Nixon, but Truman holds the record: 22.

This article was originally published on Joystiq.