Hey, look, this "rogue foreign site" that was "wholesale" "dedicated to the theft of US property" based outside US jurisdiction just got shut down (quasi-quotes of SOPA/PIPA text and rhetoric of advocates.) Woohoo! That's why we have laws like SOPA/PIPA!
...Oh wait, SOPA or PIPA haven't passed (yet?) So, remind me why they're necessary, if a 2-year FBI investigation just resulted in arrests and seizure of the foreign site? I daresay they're not necessary and this is a perfect example that existing laws are sufficient. What's the matter, is 2 years worth of due process by a dedicated agency not quick or severe enough for Big Media? Ah, that explains why they want to legislate a fast-track to judges with the authority to force the entire rest of the United States Internet to comply with their rulings. The timing on this is perfect; it shows exactly what's really going on here!
Possible counter-point: The US has jurisdiction to seize under the .com TLD but wouldn't under another country's. SOPA/PIPA could require domestic ISPs to blacklist any domain with "infringing content." This is probably true, but it appears the FBI have done even better by seizing a bunch of servers and arresting individuals, something SOPA/PIPA would not enable any more than current laws do.
The fight between Mega and UMG is also telling. UMG's actions are a taste of what will continue to be possible, and become more common and draconian, with broader IP laws.