I have to plead ignorance on this one. What exactly is so bad about extortion? Maybe I can answer my own question. For example, a greedy domestic of the Travolta family tried to blackmail them with "evidence" that they mistreated their son. Problem: it was a lie, and a particularly egregious one given that Jett Travolta died tragically from symptoms of a longstanding health issue. So extortion, when it seeks to ruin the the good names of hurting people out of greed, is really a bad thing.
But then is it always so?
Example two: David Letterman is off the hook after sleeping around with co-workers because the jealous boyfriend was stupid\insincere enough to ask for money for his silence. But what if the guy had simply spread the news? The difference in this case is that it was true. I hardly feel like 6 months of jail, 4.5 years of probation and 1,000 hours of community service is fair given the situation.
Read more about it here
Granted, I don't know what all was in the blackmail letter, but I get the moral of the lesson:
Call the bluff, laugh off your slimy behavior, and if your funny, and you have money, you've got it made honey!