The decisions that Kyle Bass has made in the past have never failed to amaze those who know of him. Although he did correctly predict that the mortgage crisis was going to occur in 2008, the rest of his decisions have been terrible and immoral.
Cristina Fernández de Kirchner, a lawyer, politician, and former President of Argentina, has been known to make many poor choices when it comes to economic policies. But no matter what, Bass has stood behind her. The sovereign debt in their country has gone into default twice in thirteen years, helping a once very affluent nation to go into debt. Bass never failed to stand behind her and her actions, even criticizing the creditors that were court-ordered to receive money from Argentina. No one has been able to fathom why he would continue to back a woman who has been well-known to make very poor choices that have resulted in national debt issues for years.
But one major instance with Kyle Bass has stood out more than others, and it was reported on http://usefulstooges.com/2015/08/24/kyle-bass-the-frantic-investments-of-a-desperate-gambler/. Many remember the issues General Motors had with millions of their vehicles, including faulty airbags that wouldn’t deploy on impact and defective power steering. GM knew these problems existed and yet did not make any effort to fix them until people started getting hurt and even killed, as the problems caused 13 deaths. Bass, who had stock in the company, went on national television to defend GM and their shady practices. He claimed that the injuries and fatalities that occurred were more the fault of the victims than General Motors, saying many people were probably drunk when the accidents occurred. He even said people should have been wearing their seatbelts instead of admitting GM should make cars that protect their drivers no matter what the situation.
It gets better, though. Bass and a partner, Erich Spangenberg, came up with a scheme to bilk the pharmaceutical companies out of millions of dollars. Unfortunately, their plan also caused many people to go without their needed medications when the pharmaceutical companies had to raise prices to cover their losses.
The Coalition for Affordable Drugs is a front company for Bass and Spangenberg that they use to exploit funds from the big pharma companies. They would make sure certain stocks would fall. Then they would challenge the patent of the drug, causing delays and price increases. He insisted he does this to make medications more affordable and to lower overall health care, but has even admitted that he was interested in the capital gain he could make.
At the moment, Bass is looking into the oil companies. It is probably safe to say he is simply looking for a quick way to make a buck.