Schilling says collapse of 38 Studios cost him baseball fortune

Put a bunch of money into a high risk endeavor such as an MMO and you might lose it all. Even absent the government loan situation and even if they did launch, he was statistically unlikely to recoup that money.

Hard to feel too bad for the guy, at least he can easily get a cush analyst job on TV, make tens of thousands doing speaking engagements or whatever other opportunities his fame still allows. He's still a lot better off than the grunt employees who are currently in the midst of a creditor money grab and who just relocated to a place without many alternative options for their industry.