Trouble for Phil Falcone

the billionaire hedge fund harbinger capital's manager, phil falcone - has reportedly taken out a 190mm loan from the jeffries group with a sky high interest rate of 15%. thats almost 3x what the riskiest corporate borowwers pay. And four years ago Falcone managed 26b at harbinger by the end of last year that had plunged to just 4billion dollars. And by the way, that's not the only problem Falcone is facing - Harbingers main hedge fund has more than 60% of its assets in lightsquared which is the controversial high speed data service that congress is now examining. Tests show that light squared signals interferes with gps equipment in cars planes and boats