Thursday, September 22, 2011

Soros turns up in Obama's LightSquared imbroglio


As Republican lawmakers begin to dig into the White House's cozy relationship with a startup wireless company and the wealthy Democratic donor who owns it, a new character has appeared on the story's edges: liberal superdonor, conservative bete noire and controversial investor George Soros. - Timothy P. Carney/Washington Examiner

In the LightSquared affair, Soros shows up repeatedly.

First, Soros is reportedly an investor in LightSquared. The Wall Street Journal reported in November 2010: "In 2009, while some investors were asking for withdrawals, others were lining up to put money into Harbinger. They included Soros Fund Management, which during the past year became a significant new investor, say people familiar with the matter."

Additionally, the telecom- and tech-related liberal nonprofits Soros funds have gone to bat for LightSquared in its various policy fights. In April 2010, the Public Interest Spectrum Coalition filed a petition with the Federal Communications Commission backing Harbinger's business plans and met with an FCC commissioner on the matter. Four groups that belong to that coalition received six-figure gifts from Soros' Open Society Institute the year before.

Six months later, those four Soros-funded groups -- Free Press, Media Access Project, the New America Foundation, and Public Knowledge -- filed a joint comment backing LightSquared in a related regulatory matter.