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10. Re: Rhode Island Sues Schilling and Others over 38 Studios Deal Nov 1, 2012, 23:12 NewMaxx
 
The excerpt does a good job of narrowing in on the fine points, although the "big picture" is simply a morass of legalities that for the most part will be worked out, although perhaps not appearing to be fair in nature; that is just the way of law. That being said,

Failure to disclose undercapitalization: again, government contractors/partners often undercap, but they have to disclose it! That's a small but crucial difference.

EDC loan analyst: like many of us have been saying, it's doesn't take an analyst (or apparently it does, but they have to listen) to see that a loan of this magnitude for a risky industry is insane.

Never ordered an independent assessment: this is unfortunately probably the sticking point that will decide the outcome of the case, again, despite what might be fair. Basically it means "find out who to blame as the scapegoat with the most legal backing and call it a day"; I'm usually not cynical, but no nice way to put that.

Hidden commission: typical finance/banking procedure that, yes, led to the recession and has created market collapses and lord knows what else, "nothing to see here," this case is not high profile enough to warrant more than at most a fine for them, the problem is proving it within a relative cost, which is not a high priority until the first point of the case is handled.

Also, to add more to my commentary, this situation is similar to why video game movies are a crapshoot. The movie industry and the game industry are just totally two different type of entities; likewise, government and game industry, here. Read about Microsoft's failed Halo movie and you'll see marked similarities (read paragraph 8, next to enlarged quote):

http://www.wired.com/gamelife/2012/04/halo-movie-generation-xbox/

This comment was edited on Nov 1, 2012, 23:18.
 
 
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