Congressman Ed Markey, chairman of the House Subcommittee on Telecommunications and the Internet,is overseeing the influetial hearing on the Sirius Satellite Radio Inc.(NASDAQ:SIRI) and XM Satellite Radio Holdings Inc.(NASDAQ:XMSR) merger.
It turns out that a relative of his was one of the original investor of Sirius Satellite Radio. The news, which was hushed, came out during an explosive Massachusetts lawsuit.
"The lawsuit involved a relatively small investment in a start-up called Satellite CD Radio Inc., which eventually grew into today's Sirius Satellite Radio, now known as the home of loudmouth Howard Stern.
In 2000, a court ruled against Mumford, but the Gould family has never been able to collect most of the judgment.
In a 1999 affidavit, Martine Rothblatt, Satellite CD's founder, said a series of letters purportedly written by her to Mumford were bogus.
Those letters discussed Mumford's investments in the company and its subsequent problems.
Only one of the eight letters was authentic, Rothblatt said. "The other letters were not signed or written by me, nor sent with my authority," said Rothblatt, who was previously known as Martin Rothblatt before she changed her gender.
Mumford, the former sister-in-law of Massachusetts Congressman Ed Markey, had to battle to remain in her Winchester home in the wake of the judgment for the Gould family."
Maybe, it's all just a coincidence. Ed Markey just happens to be overseeing a potential billion dollar deal that one of his family mambers happened to invest in.
Do you think that Congressman Ed Markey should be overseeing the the influential XM - Sirius merger hearing?