Shackpets | Available on iOS and Google Play Store

RI governor refutes 38 Studios' claim he scared investors

Rhode Island Governor Lincoln Chafee told reporters that he'll be "vindicated" from accusations that his words scared off investors, and said he wants "to get back every taxpayer dollar back that we possibly can."

2

38 Studios founder Curt Schilling may be "tapped out," but Rhode Island Governor Lincoln Chafee isn't easing up on the former ball player. He recently told local reporters that time and examination will show that he is not responsible for the collapse of the company, and he says he wants "to get every taxpayer dollar back that we possibly can."

Schilling has previously said that Chafee scared off investors with comments about company solvency, which led to its demise. But the AP (via ESPN) reports that Chafee told reporters, "In the end, I'll be vindicated."

Chafee was not the governor when the $75 million loan guarantee was made to 38 Studios, and he has stressed that he was not in favor of the move. 38 Studios did make a late payment on the loan, before filing for bankruptcy and sparking a federal investigation. On top of its other problems, 38 Studios is now being sued by one bank over its loan debt.

Editor-In-Chief
Filed Under
From The Chatty
  • reply
    July 26, 2012 3:15 PM

    Steve Watts posted a new article, RI governor refutes 38 Studios' claim he scared investors.

    Rhode Island Governor Lincoln Chafee told reporters that he'll be "vindicated" from accusations that his words scared off investors, and said he wants "to get back every taxpayer dollar back that we possibly can."

    • reply
      July 26, 2012 7:22 PM

      first thing Rhode island needs to do with the KoA licence is drop the price on the steam copy (since I assume its theirs now) its not going to make any money being at full price.

    • reply
      July 27, 2012 7:57 AM

      It's obscene that public money ever went into this company. If the people of Rhode Island wanted to invest in the company, there was nothing stopping them, but their government decided to invest their money without their consent, and now it's gone. Why? Because some politicians hoped they could point to their wise investment and say "we created jobs," and buy themselves some votes. There's a word for this: corruption.

    • reply
      July 27, 2012 5:32 PM

      Yeah, these are the same people that believed in 38 Studios and Schilling in the first place.

Hello, Meet Lola