Does George Soros Have Financial Ties to LightSquared?
- Posted on September 22, 2011 at 12:50pm by
Billy Hallowell
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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.
Four of the groups that are a part of the coalition received six-figure gifts from Soros’ Open Society Institute the year prior and all four — Free Press, Media Access Project, the New America Foundation, and Public Knowledge — backed LightSquared in an associated regulatory matter six months later.
While Soros may have no connection to the White House scandal surrounding the company, it is, as Carney notes, worth investigating.
This is especially true as the Obama administration faces increased scrutiny over charges that Gen. William Shelton, head of the Air Force Space Command, was pressured to change Congressional testimony to favor LightSquared’s new, 4G phone network. (Philip Falcone, who has exclusively donated to Democrats and Independents since Obama’s election, runs Harbinger).
Below, watch Falcone deny any wrongdoing and said he’s donated to Republicans as well as Democrats and is actually a registered Republican:
To review: LightSquared’s plan to build the network has many in government, including Shelton, concerned. Apparently, the new technology is so powerful that it would severely impede the military’s high-precision GPS receiver systems (the satellite network that is relied upon by both the military and private industry). Newsy has more on the controversy surrounding the technology:
Considering the debate surrounding this system, any White House pressure to change testimony would be potentially explosive. This is especially true considering the extensive ties to the company that people close to the administration are said to have. 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.
On Tuesday, we reported that Republican Rep. Darrell Issa, chairman of the House Oversight and Government Reform Committee, said on CSPAN Tuesday that he plans to investigate government loan programs following revelations about Solyndra and the LightSquared controversy.
More details on Soros and LightSquared are sure to follow.
(h/t Washington Examiner)
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Comments (89)
JLGunner
Posted on September 22, 2011 at 1:58pmThis guy is the true enemy of the constitution. Barack is a puppet for him. Soros is responsible for the distruction of 3 other countrie’s governments. Barack is intentionally destroying our country. Soros stated that the only thing preventing him from his one government world is the United States and our constitution.
Report Post »lillymckim
Posted on September 22, 2011 at 2:07pmI knew Glenn Beck and The Blaze would get to the bottom of this sludge and I also now Van Jones is the mix and I know we can count on Glenn Beck and his excellent staff to get to the bottom of it!
When it all comes down on their corrupt heads I will love watching every minute of it in living color on GBTV!!
Report Post »alamarque29
Posted on September 22, 2011 at 1:53pmif it weren’t for rush limbaugh levin hannity beck fox news and the internet, we would be in the dark. thank GOD, we the people areup and are investing the so called gov .news media.george soros bill ayers saul alinsky are all part of boobama democratic regime. their god is the gov. with them running it into the grouing–check the records. they vare lawless and corrupt–check the records– fast and furious stimulus regulations green energy housing fraud–all fraud by the GODLESS corrupt lawless alinskyboobamasorosayers democratic regime.
Report Post »UlyssesP
Posted on September 22, 2011 at 1:49pmIt goes deep….
Report Post »George Soros IS GlennCochran!
amerbur
Posted on September 22, 2011 at 1:43pmI wonder if this companys signal would interfere with GBTV?
Report Post »politicaljules
Posted on September 22, 2011 at 1:58pmMaybe but if you read the jobs bill there is a section for the government to take control of licensing what is said on the Internet. Something about the broadband wireless safety initiative listed in the jobs bill. I wish people were paying attention to what might be passed before Obama leaves office.
Report Post »They SMEAR what they FEAR
Posted on September 22, 2011 at 2:36pmI‘m a pilot and I ’ve been reading a lot on this issue because it will affect the GPS network. Therefore theres been heavy coverage on the aviation side of media. Ever since this was discovered L2 has been scrambling to refute the evidence, late with replies on testing, and just patern of obvious stall tactics. Yet, they’re still trying to move this forward when it was clearly demonstrated that this technology had adverse effects. It was a this point that I knew something was amiss with this whole thing. It smacked of ulterior motives and hidden agenda. Now that I know Soros is involved, it make sense. This company is dangerous!
Report Post »loveliberty83
Posted on September 22, 2011 at 1:43pmSorros tried to destroy the UK I agree why isn’t this man investigated or is he paying off people?? can you imagine turning in his own people the jews in germany protending he was not one -How this evil man has survived so long I thought one of the spirits who he had arrested would come back & get him but he probably was sneaky & they did not know a jew was their enemy
Report Post »1TrueOne55
Posted on September 22, 2011 at 8:19pmHe is just as bad as Hitler since he was a self hating Jew also, that is one thing that Soros has in common with his mentor and idol…
Why is it self hating Jews that want to take over the World. I thought that 007 dealt them a deathly blow in the 60′s…
Report Post »politicaljules
Posted on September 22, 2011 at 1:40pmZombie apocalypse maker= soros
Report Post »MIBUGNU2
Posted on September 22, 2011 at 4:30pmGeorge ain‘t lookin’ sooo good…
Report Post »EqualJustice
Posted on September 22, 2011 at 1:36pmGeorge the HYPOCRITE Soros uses the words ‘NON PROFIT” at the end of all his progressive organizations, just so he doesn’t have to pay taxes! They should ALL be in jail, the entire gang of corrupt thieves.
Report Post »Anonymous T. Irrelevant
Posted on September 22, 2011 at 1:29pmWhy didn’t Soros give them the 500 million instead of using our money? That would be REAL investing, but not in hindsight. I guess he just likes to use OPM like any good socialist.
Report Post »Anonymous T. Irrelevant
Posted on September 22, 2011 at 1:50pmSorry, I was thinking Solyndra.
Report Post »politicaljules
Posted on September 22, 2011 at 1:26pmThis is legal laundering of tax payer funds and is happening again. Check the jobs bill for the new infrastructure bank. The American Infrastructure Financing Authority or AIFA, is backed with rino support like Kay Bailey hutchinson as bipartisan support for the jobs bill. Basically, it is private investor funds for projects backed by public dollars. There is very little to no risk for an investor to fund a project and when it goes belly up, you and I are on the hook for the debt. Not the investor. You know who is the biggest investor for AIFA? Warren Buffett. We must stop this madness. Unless you want another solyndra, another auto bailout, another bank bailout on the backs of your chilldren. Call your rep and oppose any infrastructure financing backed with public funds!
Report Post »Snowleopard {gallery of cat folks}
Posted on September 22, 2011 at 1:17pmLets put it this way — any project Obama or his cronies are pushing for, involved in, or being investigated for, Lord Soros has to be involved behind it somehow.
Report Post »Canyonman5555
Posted on September 22, 2011 at 1:29pmI am not surprised that this Evil entity is joined at the hip with this administration, after all, this administration had daily meeting with Sorass.
Report Post »Snowleopard {gallery of cat folks}
Posted on September 22, 2011 at 2:13pm@CanyonMan — the one thing with Soros that still amazes me is that even when shown the facts in his own words on video; most people refuse to believe one man can be so utterly dangerous, and not be a insane dictator of the Soviets or such…incredible is the human ability for self denial.
Report Post »http://artinphoenix.com/gallery/grimm (cat folk art)
buckster6.0
Posted on September 22, 2011 at 1:17pmI cant wait to see how this ends up.damn that dude is ugly.face looks like a five gallon bucket full of dried paint.yuk!
Report Post »Defends the TRUTH
Posted on September 22, 2011 at 1:16pmThat’s what happens when the Chicago Thugs run, I mean, RUIN this Country!! Spooky Dude, is it just me or with all the money he has, could he get a better pair of Glasses? Just askin’?
Report Post »slr4528
Posted on September 22, 2011 at 1:16pmWhy doesn’t someone also investigate Soros and Petrobas-the Brazilian oil company that Obama gave $2 billion to from the Stimulus act?
Report Post »cassandra
Posted on September 23, 2011 at 8:46amSLR your right obama gives Brazil money to drill for oil then tells them we will be their biggest customer, and who has intrest in that company Soros the Spooky Dude Hey Soros the people know about you now this isn’t Europe we fight back
Report Post »Brents Torts
Posted on September 22, 2011 at 1:15pmKind of puts new light on why the prez was pushing high speed internet for everyone.
Report Post »inexiletill2012
Posted on September 22, 2011 at 1:14pmBet he has ties to Solyndra also……
Report Post »ConstitutionalPatriot
Posted on September 22, 2011 at 1:26pmI only bet when I think I can win, I will never take that bet :)
Report Post »capecodsully
Posted on September 22, 2011 at 1:14pmMaybe the Obama administration would have had more success pressuring General Shelton to change his testimony if they had just gotten to the point, “Ve vant you to know dat Mr. Soros vill be vedy disappointed viv you if you do not cooperate.”
Report Post »Infidel49
Posted on September 22, 2011 at 1:22pmVe have vays of making you talk.
Report Post »DanWesson455
Posted on September 22, 2011 at 1:13pmExaggerated? How grossly?
Why do the obscure or attempt to, the obvious? The king has been caught without his clothes on, again. O’Bambam attempting to do his pals a favor and what? Cover-up. Corrupt. Illegal. DIP WADS!
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:
Report Post »dsm
Posted on September 22, 2011 at 1:12pmWhat isn’t spooky dude involved in?
Report Post »cemerius
Posted on September 22, 2011 at 1:10pmProof positive the good die young! Isn’t george like 150?
Report Post »RLTW
Posted on September 22, 2011 at 1:10pmI suggest Michelle Malkins article on this, it goes even deeper into the corruption of this WH.
Report Post »Al J Zira
Posted on September 22, 2011 at 1:08pmIs there anything Soros doesn’t have financial ties?
Report Post »capecodsully
Posted on September 22, 2011 at 1:15pmAmerica surviving.
Report Post »GardenoftheGods
Posted on September 22, 2011 at 1:07pmGeorge Soros is a nasty, nasty old man. Personally, I can’t wait for him to leave this earth…I think it would be a much better place.
Report Post »Elena2010
Posted on September 22, 2011 at 1:13pmHe’s the anti-Christ to Obama’s false prophet!
Report Post »eaglenva
Posted on September 22, 2011 at 1:04pmI’m getting that old feeling to keep Watch the other hand.
Report Post »DanWesson455
Posted on September 22, 2011 at 1:10pmThree card monty? Looks like it.
Report Post »HKS
Posted on September 22, 2011 at 1:03pmWhy am I not surprised to find out Spooky Dude is involved in all the shady dealings in Washington. If something stinks, more often than not, he’s there. He’s just a stinky kind of guy.
Report Post »marhee9
Posted on September 22, 2011 at 12:56pmThis administration at least told the truth about being transparent. The level of criminal activity is beyond belief, and we don’t yet know the half of it. This video sums it up. If it weren’t for Fox News, Glenn Beck, and the Blaze, we wouldn’t even know about this stuff.
Report Post »http://www.youtube.com/watch?v=7HPgnuiPGLM
Steelhead
Posted on September 22, 2011 at 1:14pmjust because you get your news from tabloids doesn’t make it correct
Report Post »netmail
Posted on September 22, 2011 at 1:43pmNot transparent enough….they’re not in jail where they belong yet.
Report Post »marhee9
Posted on September 22, 2011 at 2:26pm@netmail, good point.
Report Post »