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Game Over: LightSquared Declares Bankruptcy; The Spectacular Fall of Phil Falcone ·
LightSquared, Inc. filed for bankruptcy this afternoon after its plan to deliver high-speed wireless broadband nationwide was blocked by federal regulators over interference issues. LightSquared was a pet project of billionaire hedge fund manager Phil Falcone, who earned his money pitching George Foreman grills and betting against sub-prime mortgages. Falcone invested billions in the satellite …