Socialists the world over do underhanded ratty things for the purpose of undermining their enemies. It’s been their MO since Lenin in Russia. Stalin was literally a bank robber before he waltzed that mustache into a position pushing papers as a bureaucrat, and eventually managed to wheedle his way to the top. Kyle Bass is no different.
Kyle Bass started his career away from the public eye, but he very soon became centered in it. Bass used to work for Bear-Stearns; until 2008, one of the top five investment banks on Wall Street. Between the time Kyle Bass left Bear-Stearns, and the CSPAN interview that ended up collapsing the company so bad that J.P. Morgan Chase ended up absorbing them, Kyle Bass let loose some volatile information likely responsible for the bank’s demise. Bass told a journalist about a novation refused by Goldman-Sachs from Bear-Stearns. Novations are basically the transitive property of mathematics applied to legal or financial situations. “A” and “B” are the same thing. “B” and “C” are the same thing. So “A” and “C” are also the same thing. Mortgage-backed securities come from cash, which is then traded on Wall Street; so why not just trade with the securities themselves? This is basically a novation, and what all the big-ticket investment banks were doing before 2008’s meltdown. The thing is, the mortgage-backed securities were based on mortgages that had no real value, as those who had taken them out didn’t have the ability to pay them back. Still, the practice of novation was common, and not worth noting on the news. When Bass broke the story, though, it imploded Bear-Stearns.
Bass later predicted that the American economy would collapse due to the sub-prime lending market. After that he began using his human interest organization CAD, the Coalition for Affordable Drugs, to force pharmaceuticals into lowering their stock value via political pressure to drop drug prices. When their value plummets, Bass short-sells and makes a fortune.
To top it all off, Bass is involved with Cristina Fernandez de Kirchner, socialist despot of Argentina, a woman so bad with money and leadership that she’s defaulted Argentina twice in only thirteen years. Yet Bass praises her every financial move. Why? Because he’s a socialist stooge posing as an economic assassin in America, and very successfully gutting the country of millions. But that’s what socialists do, essentially: they steal from banks. There are more articles of what Bass has done on ZeroHedge.