Red Sox Legend Cheats Taxpayers Out Of $75 Million

[MankyJimy]

http://www.slate.com/articles/business/moneybox/2012/06/_38_studios_and_kingdoms_of_amalur_how_curt_schilling_s_video_game_company_duped_rhode_island_out_of_75_million_.html

How will this affect Schilling's HOF candidacy? Any chance he gets convicted and does time?

 

[Starman]

http://www.slate.com/articles/business/moneybox/2012/06/_38_studios_and_kingdoms_of_amalur_how_curt_schilling_s_video_game_company_duped_rhode_island_out_of_75_million_.html

How will this affect Schilling's HOF candidacy? Any chance he gets convicted and does time?

Nothing wrong with this one.

http://www.sportsjournalists.com/forum/threads/90173/

 

[3OctaveFart]

Incredible a state in these economic times was comfortable loaning this tool $75MM of the taxpayers' money for a video game development business.

 

[User 11148]

While I am categorically opposed to states "investing" in job creation, is it fair to say that Schilling has cheated the taxpayers out of their money? As the article argues:

On the state’s side, it looks an awful lot like a toxic interaction between stupidity, desperation, and Red Sox fandom.

But this is the best line in the story to me:

Perhaps the best path would be to take advantage of the fact that the 38 Studios bonds are moral-obligation bonds rather than general-obligation bonds, and simply default and refuse to pay. The big downside to defaulting is that it makes it much harder to borrow money in the future. But considering Rhode Island’s track record of debt-financed economic development schemes, that might be a blessing in disguise.

 

[Point of Order]

Jete would've done better.

 

[KYSportsWriter]

Figures the thread would be started by Manky ...

 

[3OctaveFart]

While I am categorically opposed to states "investing" in job creation, is it fair to say that Schilling has cheated the taxpayers out of their money? As the article argues:

On the state’s side, it looks an awful lot like a toxic interaction between stupidity, desperation, and Red Sox fandom.

But this is the best line in the story to me:

Perhaps the best path would be to take advantage of the fact that the 38 Studios bonds are moral-obligation bonds rather than general-obligation bonds, and simply default and refuse to pay. The big downside to defaulting is that it makes it much harder to borrow money in the future. But considering Rhode Island’s track record of debt-financed economic development schemes, that might be a blessing in disguise.

I'd like to see an audit on the alleged $50MM he has in this personally.
That could turn out to be another lie from a well noted braggart.
If this weren't a big deal, the feds wouldn't be involved right now like they are.