Worse than Solyndra

Add the name LightSquared to your crony capitalism watch list. The story emerging has elements even worse than the squandering of half a billion dollars on an Obama bundler's venture.   Brendan Sasso of The Hill reports: LightSquared plans to provide high-speed wholesale wireless service nationwide through a network of satellites and land-based cell towers, but tests earlier this year revealed it interferes with GPS devices, including those used by the military. One of the major investors in LightSquared is prominent Democratic donor, Philip Falcone. The Daily Beast reported Thursday that the White House asked Air Force Gen. William Shelton to alter his planned remarks to lawmakers and their staff in a secured briefing about LightSquared.  According to the report, Shelton was pressured to change his testimony to show he supported the White House's policy to expand wireless broadband access and that the Pentagon would try to resolve the GPS interference issues with more...(Read Full Post)