 | Figures….Obama's Boss, George Soros, involved in LightSquare ScandalScotty Starnes | September 22, 2011 at 8:30 PM | Tags: George Soros, LightSquared, President Obama | Categories: Political Issues | URL: http://wp.me/pvnFC-5T8 |
The Obama campaign donor pay-to-play scandal gets more interesting. Now it looks like Obama's boss, and political donor, George Soros (fat-cat hedge fund manager Obama claims not to like) has monetary ties to LightSquared.
LightSquared is the latest scandal for Obama. He invested in LightSquared. His FCC granted LightSquared a waiver. His administration tried to get two generals to change their testimony about LightSquared. LightSquared executives gave money to Obama's presidential campaign.
Of course we all know what's going on but Team Obama wants the taxpayers to believe this is all just coincidence.
Timothy P. Carney writes, via The Washington Examiner:
As Republican lawmakers begin to dig into the White House's cozy relationship with a startup wireless company and the wealthy Democratic donor who owns it, a new character has appeared on the story's edges: liberal superdonor, conservative bete noire and controversial investor George Soros.
Soros reportedly invested in the telecom company LightSquared through a hedge fund, and many of the nonprofits he finances have backed LightSquared in regulatory and policy disputes.
While Soros' influence is constantly and grossly exaggerated by conservatives, it's still real. He generously funds a huge swath of the liberal movement, and has aligned his business interests with Obama's big-government policies. For instance, Obama green-energy official Cathy Zoi left the Energy Department earlier this year to help run a new green-energy (and thus subsidy-dependent) investment fund Soros was starting.
...In the LightSquared affair, Soros shows up repeatedly.
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."
I asked about this, but a Soros spokesman emailed me, "As a matter of policy, we don't confirm or deny information on our investments."
Additionally, the telecom- and tech-related liberal nonprofits Soros funds have gone to bat for LightSquared in its various policy fights. In April 2010, the Public Interest Spectrum Coalition filed a petition with the Federal Communications Commission backing Harbinger's business plans and met with an FCC commissioner on the matter. Four groups that belong to that coalition received six-figure gifts from Soros' Open Society Institute the year before.
Six months later, those four Soros-funded groups -- Free Press, Media Access Project, the New America Foundation, and Public Knowledge -- filed a joint comment backing LightSquared in a related regulatory matter.
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