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....
Obama is setting up a 24K golden parachute for himself.
..Billionaire hedge fund manager Philip Falcone recently gave investors more information about three U.S. government investigations into his Harbinger Capital Partners fund firm.
In a year-end financial statement, Falcone also disclosed for the first time that his $6 billion firm paid $60 million to settle a lawsuit with NACCO Industries. Falcone said the Securities and Exchange Commission is investigating whether his firm violated a short-selling rule involving three stocks and whether it engaged in market manipulation in unnamed debt securities.
...In the same document, Falcone also said that regulators are still reviewing facts surrounding a $113 million personal loan that he took from the hedge fund in 2009 and repaid in full late last year.
... About half of the fund's assets are now committed to LightSquared, and Harbinger controls roughly 80 percent of the wireless telecom company's shares.