Kyle Bass is thought of by many as a socialist economist. One of the reasons for this comes in the form of his close ties to a known socialist despot. Said despot happens to be Cristina Fernandez de Kirchner. De Kirchner is currently the president of Argentina, where Kyle Bass is originally from. She has managed to default that country two times. Often, defaults are widely spaced. Kirchner’s took less than thirteen years, total. Yet Kyle Bass continues to support her on a fundamental basis. It’s hard to imagine how he couldn’t have some socialist leanings when that is taken into consideration. Yet this isn’t the only instance where Bass’ actions tend toward the socialistic.
Kyle Bass also runs Hayman Capital Management, a hedge fund based out of Austin, Texas. Hedge Funds are known as vulture funds by many because they tend to invest around big corporations that are dying, betting against their success. Austin is known as the Portland of Texas according to popular satire Portlandia. So Bass runs his vulture fund out of a liberal mecca in the southwest, as Kyle Bass The Frantic Investments of a Desperate Gambler reports.
Socialist ethic usually involves toppling big capitalistic powers, and the special interest group Kyle Bass manages, CAD, does just this thing. The Coalition for Affordable Drugs uses the infirm as leverage against big-ticket pharmaceuticals, forcing them to drop the prices they sell medication for. This ultimately bottoms out their stock and Bass short sells, making millions. Meanwhile the pharmaceuticals must curtail funding in departments like R&D who don’t have dependable numbers. In the end, the sick lose medical advances and stagnate, while Bass makes a fortune and plans his next scheme to make millions undercutting an established financial power.
With all these things in mind, it is very strange that the New Establishment Summit of 2016 should select Bass as a speaker. But a guy like Bass is likely going to promote strategies that undercut existing financial powers. Is that what the New Establishment Summit people want?