Obama Betting on Another Iffy Company?

What happens when crony capitalism isn’t enough? LightSquared had almost every advantage in their audacious plan to exploit the Obama administration’s goal of expanded broadband delivery -- key political connections in the White House, a curiously incurious FCC, and a hotshot hedge-fund wizard as its main financial backer. The only thing LightSquared lacked was a system that didn’t create havoc on the airwaves, but the company won’t let that stand in the way of their ambitions.