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25. Re: 38 Studios Bankrupt; FBI Investigating Jun 7, 2012, 18:30 Teddy
Agent.X7 wrote on Jun 7, 2012, 18:11:
There was no federal money involved. There was no taxpayer money involved until the genius governor caused the company to default on it's bank loan, which was co-signed by the state. This is the governor doing damage control, trying to make himself look good by having an investigation.

Gotta love fanboys passing the buck. Of course the solvency issues of 38 studios had -nothing- at all to do with them defaulting on the bank loan. It's that one person SAID something about their solvency issues. That must have been the problem.

They spent more money than they made on their first project, by a LONG shot, AND they were trying to fund development of an MMO when they had neither the experience, nor a recognized IP, nor the company reputation to back it up.

THEY caused their company to default by spending money stupidly and expecting huge sales on a title no one cared about, released in the same window as the kingpin of the genre. That they couldn't dupe any more 'investors' into handing them money so that they could burn it is no one's fault but their own.
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