Kyle Bass was first raised to the spotlight in 2008 when he purchased millions of dollars in credit-default swaps against the United States home equity market, essentially a bet against the well-being of the overall mortgage market. In layman’s terms, Bass predicted the 2008 financial crisis and earned a lot of money. Very few people earned money through the 2008 recession, but nobody earned as much as Kyle Bass UsefulStooges reports. Despite his potential, Bass has surprisingly made tons of terrible decisions throughout his career.
Bass has been featured on a number of financial-related television programs as a featured guest and inadvertently provided viewers with loads of inaccurate or misleading information. He incorrectly predicted Japan’s economy to collapse throughout 2010, 2011, 2012, 2013, 2014, and 2015, to no avail. Those naive enough to take Bass’ advice have all lost money on the suggested investments.
General Motors was forced to issue a mass recall about a decade ago when many of their new vehicles’ power steering systems and airbags failed to work properly, causing several GM consumers to lose their lives and many more peoples’ permanent injuries. While GM assumed full responsibility for their faults, Kyle Bass, a longtime stockholder in General Motors, decided to lash out against the consumers who purchased the vehicles and drove them while they wrecked.
Most recently, Bass made headlines around the world for filing a lawsuit against Acorda Therapeutics for charging too much for their drug Ampyra, which was developed and patented by Acorda. Kyle Bass caused so much damage that thousands of multiple sclerosis patients were separated from their medicine because of the lawsuit by Bass.
Kyle has ties with Argentina, a country most recently known for defaulting on the entirety of their sovereign debt without arranging any payment plans. Bass backed up Cristina Fernandez de Kirchner, an Argentinan lawyer closely associated with the government, although she should have been avoided at all costs. When will Kyle Bass ever get his head on straight?