the billionaire hedge fund harbinger capital’s manager, phil falcone – has reportedly taken out a 190mm loan from the jeffries group with asky high interest rate of 15%. thats almost 3x what the riskiestcorporate borowwers pay. And four years ago Falcone managed 26b atharbinger by the end of last year that had plunged to just 4billiondollars. And by the way, that’s not the only problem Falcone isfacing – Harbingers main hedge fund has more than 60% of its assets inlightsquared which is the controversial high speed data service thatcongress is now examining. Tests show that light squared signalsinterferes with gps equipment in cars planes and boats
