“I believe putting these issues behind me now is the best course of action for me and our investors,” Falcone said in a statement. The fallen hedgie said the deal will allow him to focus on his publicly traded entity, Harbinger Group, and his wireless venture LightSquared, which is struggling to emerge from bankruptcy. [NYP, earlier]

17 comments (hidden to protect delicate sensibilities)
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Comments (17)

  1. Posted by Mary Jo White | August 20, 2013 at 1:11 PM

    Q: What's the difference between Phil Falcone and a rooster?

    A: A rooster clucks defiance.

  2. Posted by guest | August 20, 2013 at 1:17 PM

    gonna get down voted for this, but imagine this guy emerged as the next carlos slim out of this debacle?

  3. Posted by guest | August 20, 2013 at 1:18 PM

    what investors?

  4. Posted by Wilbur | August 20, 2013 at 1:26 PM

    Yeah, when pigs fly.

  5. Posted by Guest | August 20, 2013 at 1:39 PM

    Unfortunately for Phil, they use GPS in Mexico as well.

  6. Posted by Guest | August 20, 2013 at 1:56 PM

    Every successful hedge fund manager strives to achieve the coveted “industry ban” to mount on their wall. It really helps in pulling in new investors.

  7. Posted by Abe_Froman_ | August 20, 2013 at 2:00 PM

    It’s like Bess was in Phil’s head when she wrote basically the same thing yesterday

  8. Posted by Guest | August 20, 2013 at 2:28 PM

    SEC Attorney 1: Well, that's that… case is done, guess the only left is to let Phil know the party's over….
    SEC Attorney 2: Should we send a letter?
    SEC Attorney 1: No…. I want to tell him personally…. have one of the interns bring him a walkie talkie….

  9. Posted by the truth | August 20, 2013 at 4:18 PM

    Wait so Obama is going to grant Falcone a monopoly for all telecom services in the US in exchange for an undeclared but well known controlling stake in said monopoly? Seems unlikely.

  10. Posted by guest | August 20, 2013 at 4:53 PM

    that wasn't my point at all, just to use your imagination to think about if his idea actually came to fruition.

    however, does your comment really seem that far-fetched?

  11. Posted by DingALing | August 20, 2013 at 5:24 PM

    He wants to create a low cost GPS network for all. He's like Elon Musk….

    …assuming elon musk was a broke hedge fund manager that had 1 lucky call in the markets, pissed his assets away, stole clients money, married something that looks like Yoda from Star Wars, and has the same last name as the villain in The Dark Knight

  12. Posted by FKAfinknottle | August 20, 2013 at 6:14 PM

    …and is companion to a pig that plays a piano

  13. Posted by lolbanka | August 20, 2013 at 6:18 PM

    Better than Phil being in Bess's head…

  14. Posted by Guest | August 20, 2013 at 8:01 PM

    In soviet Russia piano plays pig.

  15. Posted by Buboe | August 20, 2013 at 11:26 PM

    Yes it does.

  16. Posted by Lowly Assistant | August 21, 2013 at 12:38 AM

    Everyone needs a break once in a while.


    [Pulls handful of sour cream & onion chips from bowl]

    [Wipes "sour cream & onion" residue on shirt lapel]

    [Shuffles Bridge cards]

  17. Posted by Lowly Assistant | August 21, 2013 at 12:39 AM

    I've been drinking, and Jimmy Cayne borrowed my iPad.