Today’s Daily Caller posted an article showing how the Obama Administration interfered in the market on behalf of the company LightSquared.
The article deals with the delay of permits to GlobalStar after an earthquake in Italy impacted its supply chain.
The article reports:
During the months while GlobalStar’s request languished in the FCC’s slow-moving bureaucracy, the agency was helping to finalize the sale of SkyTerra to Harbinger. That company would ultimately become LightSquared.
On Feb. 26, 2010, one week before the FCC acknowledged GlobalStar’s request, Harbinger and the FCC agreed on conditions that would forbid LightSquared from selling to Verizon and AT&T any spectrum it would later acquire.
The delay allowed LightSquared to move forward while GlobalStar waited.
Who profited by this delay? The article reports:
Also during those late spring months in 2010, several advocacy groups funded by left-wing billionaire George Soros were advocating for the adoption of “open-access” Internet rules. Soros’ Open Society Institute has donated more than $1 million to the four organizations that comprise the Public Interest Spectrum Coalition. He is reported to have invested $200 million personally in Harbinger.
It’s time to bring back an honest free market. The Obama Administration is obviously not playing by the rules.