House Minority Leader Brian Newberry (R-North Smithfield) joins the Roundtable this week to discuss his expectations on the budget; whether the state should pay back moral obligation bonds related to 38 Studios; what the General Assembly will accomplish this year to boost the economy; and more.
Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.
Governor Lincoln Chafee said he remains strongly opposed to the idea of defaulting on moral obligation bonds related to the failure of video game maker 38 Studios. On Thursday, an investment expert analyzed the pros and cons of default for the House Finance Committee.
Robert A. Walsh Jr., executive director of the National Education Association Rhode Island, joins the Roundtable this week to discuss state Education Commissioner Deborah Gist; conflicting views on economic development; the debate over defaulting on bonds for 38 Studios; and Council 94's hiring of a prominent critic of state Treasurer Gina Raimondo.
The Rhode Island Republican Party said the state should default on the roughly 100 million dollars it owes due to the failure of video game maker 38 Studios. The GOP notes how the state isn’t legally required to pay back so-called moral obligation bonds.
State Republican Chairman Mark Smiley said the people who purchased the bonds bought an insurance policy as part of their investment. Smiley said the potential return on investment was higher because of the risky nature of the bonds. He also said taxpayers shouldn’t have to pay for a decision they didn’t make.
State Representative J. Patrick O'Neill (D-Pawtucket) joins the Roundtable this week (along with guest panelist Dan McGowan of WPRI-TV, Channel 12) to discuss Governor Lincoln Chafee's move to become a Democrat; the way forward for economic development, and legislative questions.
The Chafee administration is conducting a financial analysis on the cost of not paying back the moral obligation bonds that funded a $75 million loan guaranty for failed video game maker 38 Studios, the governor's spokeswoman said Tuesday.
Chafee spokeswoman Christine Hunsinger says the governor remains a strong believer that paying back the investors who bought the bonds is the right thing to do.