John Navas wrote:
> On Wed, 9 Jan 2008 07:57:29 +0000 (UTC), danny burstein
> <dannyb@panix.com> wrote in <fm1up9$i3e$1@reader2.panix.com>:
>
>
>>In <1ku8o313cslnqlsuglctsi1aphcsvs700u@4ax.com> John Navas <spamfilter1@navasgroup.com> writes:
>>[ snip ]
>>
>>
>>>>This was setup by the big boys to keep the little guys from bidding....same
>>>>as Broadcasting. Big corporations with BIG, DEEP pockets full of money for
>>>>political hacks to be paid from is all Washington is about.
>>
>>>Not so:
>>>* Auctioning spectrum ensures the most efficient use of that spectrum.
>>>* Up front cash is just prudent auction practice, to avoid disruption of
>>>the auction process by those that can't really afford to bid.
>>
>>or... to prevent a repeat of the debacle with NextWave,
>>which bid oodles of money last time around, didn't pay up,
>>and somehow got the US Supreme Court to rule that they
>>still "owned" the unpaid for frequencies.
>
>
> That's my 2nd point.
>

A token down payment doesn't guarantee satisfaction of a higher bid.