I saw the movie last night, but sort of missed the part where they talked about the photo and did not get a very good look at it. Who was the guy in the photo? Charlie took it from Vic's office and Renata wanted it and so did some lawyer Charlie ran into later. Was Vic blackmailing somebody with it?
"He stole the photograph from Vic's safe." It was a sexual photo of Renata and the attorney that Charlie ran into by the payphone. The attorney was willing to pay for the photo because of its potentially compromising value. Which is probably why Vic was holding onto it.
No, it is not Renatta in the photo. It is a dancer named "Cupcake." Early in the film Renatta even mentions "The photo with Councilman Williams and Cupcake."
In the DVD coimmentary by Ramis he mentions that the photo is of a stripper Charlie was talking to---but the scene where he talks to her has been cut out, though a snippet of the scene apears in the trailer.
Ths signifigance of the photo was too blackmail the Councilman into allowing the strip clubs to stay open. If the picture was revealed how would that make the councilman better than the strip clubs thats why she wanted the photo. The councilman passed a bill to ban the strip clubs, and with the photo that bill could be thrown out. Plus it was a ploy to see how much Charlie would do anything for Renata.
Very good answer but one point. Strip clubs were banned "within the city limits." Gerard had the photo and owned clubs outside the city limits. One can surmise that possession of the photo meant you could control the councilmans vote.