Monday, March 05, 2012
"Documents show Obama’s FCC used regulatory muscle to destroy LightSquared’s competition"
Government should NOT have the power to "pick" winners and losers.
That's the job of the free market...
That's the job of the free market...
At DailyCaller.com, Matthew Boyle has the timeline and story on how this one worked:
"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."
