Boondoggle....????...or discovered just in time
...LightSquared’s current majority owner, hedge fund manager Philip Falcone, made large donations to the Democratic Party while his broadband request was pending before the FCC. He and LightSquared executives met with White House officials.
.... Falcone is facing an ongoing investigation by the U.S. Securities and Exchange Commission over some of his hedge fund dealings. Falcone has has publicly denied any wrongdoing.
Grassley asked Genachowski in an April 27 letter why the FCC did not “proceed with caution rather than step on the gas.”
“Should the government cede a valuable public resource to a hedge fund that’s subject to multiple SEC investigations?” Grassley said.
Oh, and coincidentally, there's $6 billion earmarked for a "public safety broadband corporation" buried in the Obama jobs proposal just as LightSquared pushes into that market, too.
It's all just one strange quirk of timing, Team Obama shrugs....
Notice that the Solyndra execs are planing to plead the 5th when they testify before the House Energy and Commerce committee next week. They are trying to buy time so the Obama Regime can plan a strategy to cover their rears. “Who exactly are Solyndra’s executive trying to protect and what are they trying to hide?” said Reps. Fred Upton, chairman of the Energy and Commerce Committee, and Cliff Stearns, chairman of the Investigations Subcommittee.
Obama -— Launderer in Chief
HOORAY Jim DeMint! DEFUND socialist collectives, foreign and domestic.