UsefulStooges.com writes that Kyle Bass has been making news for all the wrong reasons. He first came into the limelight in 2008 after correctly predicting the mortgage crisis that later earned him quite a fortune. However, since then, Kyle has been making wrong predictions. The fact that he has been honoring every invitation to go to television shows has not helped his reputation at all. If Kyle once had a magic touch, it is all but gone.
Kyle also seems to be making alliances with some very questionable people. He has openly supported Cristina Fernández de Kirchner and her ludicrous policies, even after everybody else think she is the reason the economy of her country continues to plummet. He even supported the state’s decision to default on its sovereign debt for the second time. His defending of the woman sounds out of touch with reality. According to the New York Post, it is very easy to mistake him for Axel Kicillof, Argentina’s leftist economy minister.
It is not clear why Kyle has resulted to making such alliances, but it could not be for something good; his track record speaks for itself. On a television interview, he publicly shifted blame onto accidents victims, when it was evidently clear that the accidents were caused by faulty power steering and non-deploying airbags. He claimed that the victims were driving under the influence and wore no seatbelts. All this was to protect his investment.
His worst scheme yet has both houses of congress working overtime to seal every loophole that has allowed it to happen. Looking to make a killing, Kyle drops the value of the stocks of various pharmaceutical firms. He targets a firm, short sells its stocks and using the Coalition for Affordable Drugs, an organization that he formulated, goes after some of the firm’s patents.
One may wonder why Kyle has to result to such schemes when he already has a lot of money, but according to a recent news report, it is alleged that he may have lost around 30% of his funds in 2014. Kyle is the founder of Hayman Capital Management.
Not everyone is falling for Kyle’s schemes however. The U.S. Patent and Trademark Office refused to review various patents that Kyle had recommended. The pharmaceutical industry had already started to raise concerns about Kyle’s intentions of driving the stocks down and making money out of it.