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16. Re: Rhode Island Sues Schilling and Others over 38 Studios Deal Nov 2, 2012, 08:48 Creston
.net_Drifter wrote on Nov 1, 2012, 20:47:
They didn't realize they were borrowing money because they needed money . . .
I find that hard to believe. If you didn't need money, why would you be borrowing it? Especially $75 million?

Now if they were asking for a spare quarter in case the vending machine down the hall ate theirs, I could see them not thinking they needed the money, but to ask someone for $75 million, but not because you need it?

There's a difference between borrowing money because you don't think you can finish the game otherwise, and may have to close the studio, but you're fully capable of creating enough revenue to be able to pay it back, and borrowing money just to plug another hole with. 38 Studios did the latter (and it was a never-ending spiral with them. Those tax credits they were so desperately chasing were going to be sold for cash, just to plug yet another hole.)

It's like using one credit card to pay off another. It's a never-ending spiral.

Of course, had the RI EDC actually bothered to do five minutes worth of research, they'd have known 38 studios was basically a giant, money-swallowing bottomless pit.

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