One of the most cold-blooded things a person can do is make their personal fortune from the misfortune of others. It’s seedy, it’s underhanded, it’s filthy, and it’s wrong. And it’s one way UsefulStooges shows Kyle Bass has been making millions in complete legality for a while now. In fact, Bass’ disgusting practices are so abhorrent that United States congressmen have waxed bipartisan in their attempts to restrict his activities, but to no avail. Again: Bass is acting completely within the limits of the law. How is he doing this?
Bass has an organization called CAD. CAD, which in itself seems indicative of undercurrent snark, stands for the Coalition for Affordable Drugs. It’s their mission to force larger pharmaceutical companies into selling their medicine at reduced prices. Sometimes those prices are reduced as much as ninety percent.
Bass manages to accomplish this forced reduction through lawsuits, petitions, and any means necessary. Imagine a one million dollar profit whittled down to one-hundred thousand. That’s the kind of losses these organizations sustain as a result of Bass’ legal actions. Naturally, their stock diminishes. What does Bass do? He skates in, short sells all his holdings, and skates out with millions. Meanwhile, the pharmaceutical companies can no longer afford certain wings of research and development, meaning cures that could have been on the cusp of discovery are now lost for several more months, years, or decades. Because of Kyle Bass’ underhanded techniques, there are potentially millions of people who will either remain sick or die. That’s a pretty scrooge-worthy action!
But there is reason to suspect Bass’ actions may not be entirely of his own design. The man exploded onto the financial market in 2008 when he successfully predicted that an economic implosion would rock the United States, and by extension the world, due to sub-prime lending practices widely endorsed throughout the country. He was correct in this prediction and people started listening to him. For a while his hedge fund did alright, but soon it began to decline. Yet, somehow, his advisory media appearances only seemed to increase.
De Kirchner is a socialist despot presiding over Bass’ home country Argentina. Bass’ hedge fund is based in Texas–sounds like some kind of cover, doesn’t it?–and Bass himself always positively acclaims de Kirchner’s actions. Yet the financial decisions of this socialistic despot have resulted in Argentina defaulting two times throughout her reign in the last thirteen years. How could Bass support her, yet make his fortune calling foul on America’s sub-prime practices; and from Texas of all places?