Looks like we have a little breathing room here. Congress put legislation in the Defense Authorization Act that was just passed preventing the FCC from lifting restrictions and granting further permissions to Lightsquared until the interference issue has been resolved to the satisfaction to a number of congressional committees and the DOD. Lightsquared could go broke before that happens.
Sprint gave Lightsquared a 30 day extension to get the FCC approval needed. http://www.businessweek.com/news/2012-01-06/sprint-puts-investment-in-lightsquared-on-hold-hesse-says.html