Kyle Bass is a movie maker, business mogul, and friend to autocrats. Bass started out as a golden boy. If he had a hand in a project, it was solid and money making. In 2001, he was called M. Night Shayamalan and was nominated for his script and his direction of The Sixth Sense. He seemed to be some kind of genius until he made a series of bad movies.

In 2006, Bass’s Hayman Capital Management, based in Dallas, was formed. It had a healthy start, and made a fortune for Bass when he correctly predicted the 2008 subprime mortgage crisis. This was another genius move. But it did not last. Soon his bad movies were being joined by his bad financial calls, and they were always very public.

The problem is that Bass likes being right in the center of the public eye, and he loves to do financial analyses on TV. Another problem is that his financial predictions are generally dead wrong. He compared the Japanese economy to a Ponzi scheme, and he has been predicting the crash of the Japanese economy on a yearly basis.

When he started supplying hedge funds for Argentinian rulers, he already had a few unsavory companions. Argentinian despot Cristina Fernández de Kirchner is the best known of these. Last year, Argentina defaulted on its sovereign debts for the second time in thirteen years. Public and financial watchers were horrified by this, but not Bass, he defended all of it.

According to when writing about Kyle Bass, he apparently has other problems with ethical lapses. When General Motors had accusations of airbags that did not deploy and faulty power steering that actually killed a few people, Bass defended his investment by saying that the dead passengers had probably been drunk or hadn’t bothered with seatbelts.

Recently, both houses of Congress are working to close a loophole developed by Bass and Erich Spangenberg, who is known as the world’s most notorious patent troll. They pick out a pharmaceutical firm, short sell one of their stocks, and then challenge one of their patents.

When called on this scam, Bass tried to make it look altruistic. He said that when patents are busted, the new competition brings prices down. No one believed this line, and soon, Bass admitted that he lusted after money, but said it was OK because pharmaceutical firms want profits, and there is really no difference between him and them. Congress disagrees.

  1. Bakira Shawn says:

    The Coalition for Affordable Drugs is the front organization that they set up to do this. Predictably, the stocks go down, Bass makes money, and drug prices go right on up and funding for research goes down. That has being the major topic for myassignmenthelpaustralia blogspot com and it will bring a lot of commotion for these ones too.

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