If you are unfamiliar with the LightSquared scandal, see my earlier post. The Obama administration pressured an Air Force general to alter his testimony in order to downplay the havoc the company’s signals could wreak on military GPS systems. We knew that some of President Obama’s donors are invested in LightSquared. What we didn’t know (or at least I didn’t) is that Obama himself was a LightSquared investor. But don’t take my word for it, this was published at the Huffington Post, hardly a news outlet that should fear being referred to Attack Watch.
Obama himself was an early investor and came to the presidency a firm believer in expanding broadband. He remains close to other early investors, like Gips and investment manager George W. Haywood, inviting some to luxe social events at the White House and more intimate gatherings like a night of poker and beer.
…
Obama installed one of his biggest fundraisers, Julius Genachowski, a campaign “bundler” and broadband cheerleader, as chairman of the FCC, whose staff granted LightSquared a special waiver to operate.
Well, isn’t that interesting? Bending the rules to enrich his friends and donors, and himself personally, at the expense of unsuspecting travelers and the United States military! But not to worry, LightSquared officials tell us no government officials stand to benefit financially. But since their books are closed I guess we just have to take them at their word.
(Via Human Events, via Unified Patriots)
Update: The plot thickens. Ed Morrissey linked, and added another little tidbit of information you probably were unaware of. Most presidents put their investments into blind trusts when taking office to avoid the appearance of conflicts of interest. President Obama didn’t do that, in the name of transparency of course. He’s so transparent you have to request his financial disclosure forms, which Ed has done. We’ll see if he gets a response.
Update: Blogs for Victory linked. Thanks. Linked by Conservative Commune – thanks!
Tags: investment, LightSquared, obama
The most transparent administration EVAH!!!………bringing a NEW way of doing things to Washington D.C.
Hope and Change.
He HOPED you would CHANGE who gets all the kick backs, bribes, scams and payoffs……
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Crony socialism
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[...] it turns out, LightSquared is more than just a Democratic donor. The Lonely Conservative points us to a July 2011 article at The Huffington Post, in which it seems that Barack Obama [...]
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[...] it turns out, LightSquared is more than just a Democratic donor. The Lonely Conservative points us to a July 2011 article at The Huffington Post, in which it seems that Barack Obama [...]
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Everything this administration does is meant to destroy this country, reward their allies in helping them do it, or some combination of both.
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Excellent work! Hadn’t heard this anywhere. Linked you on this one.
Did you see what Jim Cramer said about business leaders hating Obama for “destroying the country”? Click the link to see the video.
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[...] More information emerging in the “LightSquared” scandal – seems that President Obama was an early investor in the company. To remind, there is evidence that Administration officials pressed an Air Force general to [...]
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I find it interesting that Obama opted NOT to put his financial holdings (estimated at $5 Million) in a blind trust…. he preferred ‘transparency.’ We are being rolled, people! Rolled by a ruthless Chicago thug and his teleprompter!
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[...] ad nauseam. Over the weekend, the news leaked that Obama himself was an early personal investor in LightSquared, as well as the possibility (unresolved) that Solyndra may have acquired a second round of [...]
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[...] testimony, but he believes the testing will take much longer than 90 days.In case you missed it, President Obama was an early investor in LightSquared. Of course, Philip Falcone denies seeking any help from the White House on behalf of [...]
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[...] Obama an ‘Early Investor’ in LightSquared If you are unfamiliar with the LightSquared scandal, see my earlier post. The Obama administration pressured an Air Force general to alter his testimony in order to downplay the havoc the company’s signals could wreak on military GPS systems. We knew that some of President Obama’s donors are invested in LightSquared. What we didn’t know (or at least I didn’t) is that Obama himself was a LightSquared investor. But don’t take my word for it, this was published at the Huffington Post, hardly a news outlet that should fear being referred to Attack Watch. Obama himself was an early investor and came to the presidency a firm believer in expanding broadband. He remains close to other early investors, like Gips and investment manager George W. Haywood, inviting some to luxe social events at the White House and more intimate gatherings like a night of poker and beer. [...]
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