one hundred…billion…dollars

Remember Phil Falcone? Hedge fund manager about yea high? Cuts his hair like he’s still playing professional hockey? Is betting the farm on a company called LightSquared that “seeks to create connectivity for all” but in doing so might “cost 794 lives in aviation accidents over 10 years with disruptions to satellite-aided navigation” and filed for Chapter 11 bankruptcy last May? Anyway, LightSquared’s creditors were in court today asking for the right to go after Big Phil/Harbinger, who they believe screwed them big time. Read more »

Chaz has been taking a look at the recently departed MF Global chief’s books and there may be less money there than people had previously thought, if people didn’t know: 1) that JSC spent a lot of Corzine Coins running for senator and governor of New Jersey, 2) that divorces are expensive, and 3) that he was never worth $1 billion dollars in the first place. Read more »