Game Over: Curt Schilling's Crony Capitalism Debacle
In the inbox today from Reason TV is this:
The 2012 bankruptcy of former Boston Red Sox pitcher Curt Schilling's Rhode Island-based video game company 38 Studios isn't just a sad tale of a start-up tech company falling victim to the vagaries of a rough economy. It is a completely predictable story of crony capitalism, featuring star-struck legislators and the hubris of a larger-than-life athlete completely unprepared to compete in business.
Watch the saga unfold in Reason TV's latest video, "38 Studios: Curt Schilling's Crony Capitalism Debacle."
And note this:
Schilling has been an outspoken "small government Republican" activist, who campaigned with President George W. Bush in 2004, but with his business in dire straits, he once again turned to the state for a bailout.
Unfortunately for him, Donald Carcieri had been succeeded as governor by Lincoln Chaffee, a Republican-turned- Independent and vocal opponent of the 38 Studios loan from its inception. Gov. Chafee sharply declined to to use any more taxpayer dollars on the foundering company, which Schilling described as a politically motivated "$100 million I-told-you-so."
Read Watch the whole thing.