There are certain things which are legal, but unethical. Kyle Bass is an expert when it comes to practices of this kind.
Kyle Bass is originally from Argentina and currently operates a hedge fund out of Texas. His hedge fund is not doing well, and there’s reason to believe financially he isn’t all he passes himself off to be. Bass became instantly famous when he successfully predicted the sub-prime lending crisis of 2008 would end in a huge financial implosion. He became trusted soon after, but that trust may not be well-founded considering his other practices.
One notorious example is Bass’ special interest group, CAD. CAD stands for the Coalition for Affordable Drugs, and while their seeming aim is to facilitate affordable medication to the infirm, their real aim is to devalue the cost of pharmaceutical stock such that Bass can short sell it. Bass has played this scam through to completion several times, and since he’s doing it through means that are entirely legal, there seems to be no way of stopping him. Even congress has banded together in a somewhat bipartisan way to figure out a solution, and as yet have nothing to show for it. Meanwhile Bass continues to restrict profit from big-ticket pharmaceuticals, simultaneously making millions for himself and keeping those companies from the funds needed in their Research and Development divisions. In the end, CAD damages the infirm more than the pharmaceutical companies. But Bass doesn’t seem to care.
As his hedge fund continues to perform poorly, Bass continues to appear on varying financial programs espousing his perspectives. It may be that he has a subtle manipulation involved with the media itself, though at this point such speculations are primarily conjectural. What isn’t conjectural is his relationship to the high-profile president of Argentina Cristina Fernandez de Kirchner. De Kirchner is a socialist extraordinaire, often called a despot for her terrible management of Argentina. Because of de Kirchner, the country has defaulted economically twice over the last thirteen years. Yet Bass isn’t critical of her at all. Strange, isn’t it? The man who made his mark on the world through criticism of United States banking fraud is himself positively endeared toward socialistic fraud on behalf of de Kirchner.
Many believe Kyle Bass is a lackey of de Kirchner, and this does seem to explain many things. It explains how he obtained his national platform prior 2008. It explains why his hedge fund is performing poorly, but he’s yet making more media appearances than ever, and it explains why whenever Bass is successful, it seems to be at the expense of some well-established organization or government.
Kyle Bass has made some pretty ugly investments; the kind certain investors would call crass, or rude.