And Yet Another of President Light Bringer’s Brilliant Economic Gambles

…goes up in expensive flames.

LightSquared Declares Bankruptcy After GPS Worries Sank Its Mobile Dream

LightSquared, the startup that planned a nationwide wholesale mobile network only to be shot down by regulators because of GPS interference concerns, is declaring bankruptcy.

I don’t know if Senator Grassley ever got an answer to his “How much $ we in for?” letter, but it was going to be a lot and was going to be ugly in any event.

One Response to “And Yet Another of President Light Bringer’s Brilliant Economic Gambles”

1. JeffS says:

   May 14, 2012 at 4:26 pm

   Excellent. Another Obama crony goes down in flames. It’ll cost taxpayers something — it always does. But watching another Obama failure does my heart good.