Originally Posted By: haertig
Good explanation!

Lightsquared doesn't appear to be the brightest company. Throwing money into buying this spectrum and planning to use it for something other than what it is reserved for. They probably figured they have more money than politicians have sense. Wait, that's probably a true statement. But Lightsquared ended up losing anyway.

There was one comment I found where it was estimated that the $2 billion worth of spectrum they bought would be worth around $12 billion if they had gotten their way (who knows how accurate those figures are). Still not a smart gamble, but maybe they thought their propaganda machine would manage to convince everybody.