It’s easy to make money at the expense of others. Politicians and lawyers do this all the time, as do crooks and the kind of personalities that view stealing candy from a baby as an achievable goal. Unfortunately it seems, based on his actions, that Kyle Bass is of this gutter-morality infant-thieving type when it comes to big money. He’s not above pushing socialist aims on the sly, as his relationship to Cristina Fernandez de Kirchner indicates, and he’s definitely not above manipulating the infirm in order to fleece them down the line. Following are some examples of Bass’ poor choices in the last several years.
For those who don’t know, Kyle Bass exploded on the financial scene with much fanfare through a successful prediction regarding America’s sub-prime lending market. Bass saw that a collapse was imminent, as so many did that were ignored in 2008. The difference with Bass was that he had a public platform to predict from. While his predictions ended up gaining him a substantial following, in other quarters of life he continued to under-perform abysmally. For example his hedge fund, which is based out of Texas, under-performs even mediocre hedge funds, and there seems to be a relationship between Bass’ media appearances, and decline in his hedge fund. The more Bass makes predictions, the less likely his fund is to succeed. That’s an almost excusable failing; however, the way Bass bridges the financial gap on the back end is downright deplorable.
CAD stands for the Coalition for Affordable Drugs. With an outer-glossing of humanitarianism, this organization uses the sympathies of individuals beholden to expensive medication as a means of manipulating big-ticket pharmaceutical companies. CAD has successfully reduced the cost on a number of big-ticket items. This reduction has in some cases literally decimated profits. Where before a drug cost eighty dollars, now it costs eight. Sounds good for the sick and infirm, right? Until one considers that the revenue lost by the pharmaceuticals is so substantial they’ve got to do things like cut research and development, keeping attainable cures and treatments from the market for unnecessary years; years that could see someone die who would have been cured, or at least stabilized, otherwise.
Kyle Bass doesn’t care, though. He’s a lackey of the Argentinian socialist president Cristina Fernandez de Kirchner, who, despite having bankrupted the country twice in the span of 13 years, is still routinely praised by him.