Tuesday, September 20, 2011

Last we saw LightSquared's Phil Falcone he was swearing to tell the truth before congress along with Soros. Also he made $11B in the sub-prime scam

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11/13/08, "US hedge fund managers defend industry before Congress," UK Guardian, Andrew Clark



"George Soros (from left), James Simons, John Alfred Paulson, Philip Falcone and Kenneth Griffin are sworn in during a hearing on the hedge fund industry in Washington, DC on Thursday." getty

George Soros, Kenneth Griffin, Philip Falcone, Jim Simons and John Paulson appear before House oversight committee
• Financiers warn that regulation could push jobs to London

"America's top hedge fund managers staunchly defended the conduct of their secretive, high-risk industry today and warned congressional lawmakers that knee-jerk regulation could push financial jobs across the Atlantic to London."...

From Two Sets of Books blog:

"Eli Lake's excellent expose on Phil Falcone and Lightsquared is here: 9/15/11, "White House Pressure for a Donor?" Eli Lake, The Daily Beast

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8/19/11, "Phil Falcone's 15 Top Stock Picks," Seeking Alpha

"Phil Falcone, of Harbinger Capital Partners, reached notoriety in 2007 when his fund made $11 Billion betting against subprime mortgages, resulting in an 116% return for the Harbinger Capital hedge fund that year. At that point, Harbinger swelled to $26 billion."...

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12/9/11, "Falcone’s LightSquared Said to Disrupt 75% of GPS in Tests," Bloomberg



Guardian article and Falcone sub prime background via TwoSetsOfBooks blog

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