Billy Hallowell
The Blaze
9/22/2011
Reports claim that infamous, ultra-liberal billionaire George Soros has ties to LightSquared, a company that finds itself in the middle of intense scrutiny.
Soros, a champion of leftist values, has allegedly invested in LightSquared through a hedge fund numerous times. The Washington Examiner’s Timothy P. Carney also reports that many of the non-profit organizations that the billionaire has funded have backed the telecom company in regulatory and policy disputes.
While Carney claims that Soros’ impact is “constantly and grossly exaggerated by conservatives,” he does admits that Soros has influence (an undeniable fact that the Blaze has covered extensively). Carney goes on to explain the relationship that exist between the famed billionaire and America’s leftist movement and launches into the many ties that Soros purportedly has to LightSquared:
First, Soros is reportedly an investor in LightSquared. The Wall Street Journal reported in November 2010: “In 2009, while some investors were asking for withdrawals, others were lining up to put money into Harbinger. They included Soros Fund Management, which during the past year became a significant new investor, say people familiar with the matter.”
Carney goes on to claim that organizations Soros funds have defended LightSquared in various disputes over the past two years.
The Public Interest Spectrum Coalition, in one example, filed a petition with the FCC backing the business plan that the company’s owners (Harbinger Capital Partners) put together. Then, the coalition purportedly met with an FCC commissioner to discuss this same subject…
…As the Huffington Post reports, Obama, himself, has financial interest in LightSquared:
Obama…was an early investor and came to the presidency a firm believer in expanding broadband. He remains close to other early investors, like Gips and investment manager George W. Haywood, inviting some to luxe social events at the White House and more intimate gatherings like a night of poker and beer…
The entire article, with video, is at The Blaze.
