Clooney slams Hollywood cowardice for pulling film

(CNN) - Today, two of the most famous people on the planet are slamming Sony for yanking "The Interview."

George Clooney and President Obama - the latter of whom took time out of his year end news conference to say Sony's decision was a mistake.

"I think it says something interesting about North Korea that they decided to have the state mount an all out assault on a movie studio on a movie starring Seth Rogen and James Franco," the President stated. "I love Seth and I love James, but the notion that was a threat gives you a sense of kind of regime we're talking about here."

George Clooney agrees and even submitted a petition to top movie, television and record executives arguing that they should not give in to the ransom demands of cyber terrorists.

"We know that to give in to these criminals now will open the door for any group that would threaten freedom of expression, privacy and personal liberty," Clooney writes. "We hope these hackers are brought to justice but until they are, we will not stand in fear. We will stand together."

But Clooney says no one in Hollywood would sign it, fearing they would be targeted next.

The Hollywood Reporter's executive editor Matthew Belloni joined "The Lead" to discuss the ongoing fallout.