Kyle Bass: For the Love of Money $$

Kyle Bass founder of Hayman Capital Management based out of Dallas TX, is a hedge fund manger who is infamously known for correctly predicting the 2008 subprime mortgage crisis. Bass made a fortune betting against these subprime securities and was featured on Bloomberg TV and profiled in an article written by D. Magazine. Not too long after he would lose his good judgment and what seemed to be the “Midas touch”.

In an recent article found on Useful Stooges, it’s said that Kyle Bass has been making “bad call after bad call”. This article goes on to explain his publicly announced bad decisions which would not come to fruition. He stated year after year the crash of Japan’s economy and most recently China. These economies are still holding strong.

Furthermore, he sided with Cristina Fernández de Kirchner of Argentina, whose country defaulted on it’s sovereign debt twice within 13 years. He goes on record as calling Singer & Co. “immoral” when New York judge Thomas Griesa ruled that Argentina couldn’t just pay back creditors who settled for reduced amounts.

The bad decisions don’t just stop there. In order to make good on his investment, Bass would go on TV defending General Motors, stating that fatalities caused by GM’s known faulty power steering systems and non-deploying airbags was the fault of the passengers themselves, for not wearing seatbelts or being drunk!

Bass seems to have a love for money that fuels his decisions, which in turn, places a black mark on his company as well as his trustworthiness as a hedge fund manager. This money lust has taken Bass to start the CFAD Coalition For Affordable Drugs organization, and under this banner, he chooses certain pharmaceutical firms, short-sells their stocks, then challenges one or more of their patents. Bass rakes in the dough while the pharmaceutical’s prices go up.

This last pharmaceutical scheme has come up to the PTAB (Patent Trial and Appeals Board) who has denied Bass’s first 2 patent challenges. Kyle Bass’s actions prove the old proverb, “for the love of money is the root of all evil”.