Fri, Nov 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Falcone fires back at Senator Grassley’s allegations

Thursday, February 02, 2012

Bailey McCann, Opalesque New York: LightSquared and Harbinger are fighting back against insinuations from Senator Chuck Grassley that one of their associates was attempting to bribe him.

Both LightSquared and Harbinger Capital Partners LLC are claiming that the Senator is trying to create an impression of impropriety where none exists.

Harbinger holds a majority stake in LightSquared, which is a next generation broadband company. It had been seeking regulatory approval to continue doing business. Harbinger is a US-based hedge fund operated by billionaire investor Philip A. Falcone, and is supporting the broadband company in its efforts to build a nationwide wireless network.

Senator Grassley is on record as being against LightSquared’s attempts to move forward with this project.

According to the NYTimes, Mr. Grassley, as chairman of the Senate Judiciary Committee, had led a Congressional investigation into Mr. Falcone and LightSquared, seeking documents to determine why the Federal Communications Commission granted the company a crucial waiver. Apparently, the GPS community, which includes some of Grassley’s constituents, fears that Mr. Falcone’s technology could interfere with GPS devices used by everyone.

Th......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Legal - Hedge fund manager fights £8m tax tribunal ruling[more]

    From FT.com: A hedge fund manager who may have to repay £8m in tax is trying to overturn a tribunal ruling that found he had attempted to shelter millions in an avoidance scheme. Patrick Degorce, chief investment officer at Theleme Partners, lost a tax tribunal case last year. HM Revenue & Customs c

  2. Europe - Hedge funds face exit tax as Iceland central bank discusses plan[more]

    From Bloomberg.com: Hedge funds and other creditors with claims against Iceland’s failed banks face an exit tax as the island looks for ways to unwind capital controls without hurting the economy. The government targets having a plan it can present by year-end that would map out how Iceland will sca

  3. Investing - George Soros puts $500m of his money on Bill Gross, Soros, Paulson backed Hispania Activos mulls Realia takeover, Ex-Credit Suisse trader’s hedge fund sees yen shorts as crowded, Hedge hunters double default-swaps as views split, Large hedge fund positions come under pressure, Vikram Pandit's fund picks 50% stake in JM Financial's realty lending arm for $87m[more]

    George Soros puts $500m of his money on Bill Gross From WSJ.com: Before Bill Gross was fully settled in at his new firm, Janus Capital Group Inc., he received an unlikely visit from the chief investment officer of famed investor George Soros ’s firm, according to a person familiar with t

  4. Opalesque Exclusive: Gray Ghost Ventures aims to make impact investing commercially viable[more]

    Bailey McCann, Opalesque New York: At a time when investing in emerging markets may be falling out of fashion among some investors, Gray Ghost Ventures is confident that great opportunity exists in the emerging markets. The firm may have a unique view into this space as one of the first private

  5. Gross: Inflation is required to pay for prior inflation[more]

    Benedicte Gravrand, Opalesque Geneva: As inflation rises, every dollar will buy a smaller percentage of a good. While deflation will mean a decrease in the general price level of goods and services. These two economic conditions are both in the waiting room. The consensus would like the former to