The Daily Caller has obtained documents, emails and communications showing how President Barack Obama’s Federal Communications Commission demolished wireless broadband company LightSquared’s competition through a pattern of regulatory decisions apparently aimed at establishing an “open-access” Internet in the United States.
The FCC successfully green-lighted LightSquared’s corporate formation in 2009 by allowing Wall Street hedge fund Harbinger Capital Partners to purchase majority ownership in satellite company SkyTerra. A major obstacle that still remained in LightSquared’s way was competitor GlobalStar.
GlobalStar had a similar operation to the one LightSquared was building at the time. A major difference, though, was GlobalStar’s already-orbiting satellites, and the broadband Internet access it was already providing to Americans in rural areas of the country.There are a series of regulatory actions that the FCC took which, while they are individually understandable examples of bureaucratic inefficiency and decision making, collectively turned into a huge advantage for LightSquared--a company with significant ties to Obama and the Democratic Party. What a surprise!
Read more: http://dailycaller.com/2012/02/22/documents-show-obamas-fcc-used-regulatory-muscle-to-destroy-lightsquareds-competition/#ixzz1n9SIYYHM