Phil Falcone Insists FCC Do What He Cannot

Falcone, whose Harbinger Capital hedge fund owns the bankrupt LightSquared, a high-speed wireless start-up, is asking the Federal Communications Commission to take “immediate” action to stem the barrels of red ink flowing from the company. In a letter to the FCC, Falcone is urging the regulator to “mitigate further damage” to Harbinger, which invested $3 billion in LightSquared only to see the agency pull the plug on the company in 2012. On Wednesday, Falcone asked the FCC to take “immediate, positive action” to reverse Harbinger’s losses, according to the letter sent by his legal team. [NYP]

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5 Responses to “Phil Falcone Insists FCC Do What He Cannot”

  1. InfiniteGuest says:

    Had so hoped the body would be "take LMF 'there.'"

  2. guest says:

    has he put on weight?

    -jenny craig quant

  3. Squeaky the Mouse says:

    Harbinger is too big to fail? Cool. Now I'm not so worried about HLF

    – B. Ackman

  4. UBS Day School MD says:

    No one likes a crier where you can't pay to play.