Jim Hickey’s American Politics

Let's Get Real.

The Ascend and Descend of Kyle Bass

Kyle Bass made his career break through the media and he quickly lost his reputation through the same channels. Bass received his 15 seconds of fame when he made a correct prediction during the 2008 mortgage crisis. He correctly predicted the financial crisis and in the process, he made a name for himself in terms of analyzing different economic concerns. His status as a hedge fund manager and entrepreneur was instantly boosted by his predictions. His hedge fund firm, which is based in Dallas, came into the limelight and generated many profits.

However, it is unfortunate that he has been unable to maintain his reputation as a predictable expert in issues affecting the country. He has become the king of bad decisions ever since his last successful prediction. Perhaps his obvious alliance with Cristina Fernandez de Kirchner, the Argentinean despot has also done damage to his reputation. The Argentinians are suffering because of his defense of the wrong policies adopted by the Argentinean president. For the second time in 13 years, the country has defaulted on its sovereign debts. Bass mishandled the situation by asking the debtors to stop harassing the country whose economy is dwindling.

Kyle was born in Miami, Florida on September 7th 1969. His family relocated to Dallas, Texas where he joined the Texas Christian University. He has a degree business administration with a bias in finance and real estate finance. After completing his studies, Kyle began work at the Prudential Securities. With his growing experience, Bass moved to Bear Stearns where he was appointed as the senior Managing Director of the enterprise. He left the company for Legg Mason where he worked as a Managing Director. Bass decided that he had acquired immense knowledge in finance thus branching out to form Hayman Capital Management.

Kyle is accused of starting a scheme that is meant to cut off medical research funding. He formed a firm called Coalition for Affordable Drugs through, which he selects pharmaceutical companies and short sells their stock. After short selling their stocks, he disputes their patents causing the stocks to dwindle thus making quick money. The pharmaceutical firms are forced to hike the prices of drugs and as such, limiting the amount of funding for medical research.

UsefulStooges also says that Mr. Bass was criticized for supporting General motors’ after their car irregularities caused a number of wrongful deaths. Kyle claimed that the negligence of the drivers was to blame for the wrongful deaths. According to him, the drivers did not follow the required safety standards and neglected to use seat belts. Bass has also failed in the other predictions that he has made since 2008. He has made unsubstantiated claims about the economy of Japan. He insisted that the economy of Japan was meant to fail by 2012, but that prediction remains only as an opinion as japans’ economy remains stable.

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