Corporate Socialism Reaches New Lows - The American Spectator | USA News and Politics
Corporate Socialism Reaches New Lows

In one of the most obscene cases of using public money to back private business, the State of Rhode Island has promised former Red Sox World Series hero Curt Schilling a $75 million loan guarantee to relocate his 38 Studios video game company from Massachusetts:

The state is dangling the sizable loan guarantee as an inducement to the company, which says it could bring more than 400 well-paying jobs by the end of 2012.

But some business officials and political candidates see the deal as too risky and say it’s an overly large guarantee for a single company, especially one that lacks a proven track record and has yet to bring a product to market.

That’s right — the company hasn’t even produced a video game yet and the first one is at least a year away. “Kingdoms of Amalur: Reckoning” is the first title. Doesn’t sound like a winner to me — why not “Bloody Sock Battle” or “Mystique and Aura Cage Match?” Regardless, politicians and bureaucrats who play with taxpayers’ money this way need to be removed from the game.

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