Democratic Senator Elizabeth Warren has expressed serious concerns regarding deputy defense secretary nominee Stephen Feinberg and his financial connections to Ligado Networks. Feinberg's firm, Cerberus Capital Management, holds significant debt and preferred stock in Ligado, which is involved in a $39 billion lawsuit against the U.S. government. Warren argues that this situation could create a significant conflict of interest if Feinberg were to assume a senior position at the Pentagon, as his decisions could financially benefit his firm and family, raising questions about impartiality and ethics in government.
Feinberg's family could also potentially make money from the outcome of the Ligado lawsuit, as he indicated he could divest his interest in Cerberus.
Should Feinberg become the department's No. 2 official, there is a huge conflict of interest regarding the Ligado lawsuit and Cerberus's financial stake.
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