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I think the future is the problem. PS2 sold the most of any console ever and they spent all that money on PS3 and still have debt as other people have posted.

What happens when it is time to make the PS4 and they don't have the stellar sales of PS2 to fall back on, they will need to have even more money coming from some where else in the company to use for the PS4. Sony however, is reporting losses.