The Providence Journal wins the exclusive first interview with Curt Schilling … and guess what: 38 Studios’ collapse wasn’t his fault, it was Chafee’s fault for scaring away investors by telling the public that the company didn’t have any money. If only Chafee could have scared away the state from investing way back when….
And, finally, an editorial on 38 Studios from the ProJo.
It seems as if smaller companies that received small loan guarantees from the state are faring much better than did 38 Studios and its huge $75 million loan guarantee, reports PBN.
Meanwhile, the spat between Gov. Chafee and Gina Raimondo continued on Friday with Chafee telling me Raimondo was the only general officer not to make it to a briefing on 38 Studios. Joy Fox, a spokesperson for Raimondo, told Ted Nesi that the treasurer didn’t know about the meeting but a spokesperson for the governor said she worked with Raimondo’s office on scheduling the meeting.
Not confident the General Assembly will approve a supplemental tax increase, the Woonsocket City Council asked the state to appoint a budget commission on Sunday night … something tells us this story is about to make much bigger headlines. Stay tuned.
John Kerry’s controversial yacht was back in Newport recently, according to the Boston Herald … but no word on whether Rhode Island gave the Massachusetts senator a loan guarantee to dock it here.
Picking up on Tom Sgouros’ theme from last week that conservatives aren’t necessarily fiscally responsible, Paul Krugman calls Mitt Romney, Paul Ryan and Chris Christie “fake deficit hawks.”
Let’s reflect for a moment on the biggest concern expressed in the Projo editorial, speedy pay-off of the bondholders.
So, evidently, 38 Studios isn’t an entirely unmitigated disaster. If its investors are holding bonds backed by the full faith and credit of the state, they look to receive a quick payout despite their bad judgment.
Most Rhode Islanders have only a vague idea of what a bond is in the first place. All they know for sure is that government has failed them again.
Carcieri doesn’t have to answer for anything, including how many of his cronies had privileged positons in this scheme. Too bad that we don’t have a real newspaper anymore.
And Governor Chafee, erstwhile as he may be, comes across as an unlovable loser ultimately. The situation cries out for a Theodore Roosevelt, and instead, we get “the most reasonable man in the room,” with other people’s money, of course.
Well, folks, the European Union is coming undone, and that probably means that a worldwide depression cannot be far behind.
As a retired teacher, I rue the thought that Lincoln Chafee and Gina Raimondo are the go-to people with regard to the security of my pension.
And, as somewhat of a realist, I cannot expect the people of Rhode Island, having gone through what they have, led by shock jocks owned by rightwing millionaires, to commiserate with me.
Disaster capitalism, based upon desperate ruthless greed, is right on schedule, coming through for itself and its adherents every day. During disasters, people can become a frightened herd, just what the speculators desire as they buy the property basis of our freedoms for pennies on the dollar.
(We don’t seem to have a state attorney general anymore. Who is he, anyway?)
Somehow, reasonable and mild-mannered as he is, our governor is also failing in the righteous anger and justice department. And that, too, is a direct reflection upon his effectiveness in office.
How much better for the rest of us if he could be outraged, as well he should be.