The New Establishment Summit is known in many countries for its ability to bring together industry leaders from a multitude of economic strongholds. This year’s Summit will be held in San Francisco on October 19th and 20th. It will feature speakers from some of the most vetted organizations on the planet. The CEO of Amazon.com will be there, as will the Vice President of Apple. But perhaps the most interesting speaker at this year’s event is Kyle Bass, a hedge fund manager based out of Austin Texas.
Kyle Bass is a billionaire. He is originally from Argentina, though he manages Hayman Capital Management in America. Bass jumped onto the international financial stage in 2008 when he successfully short-sold against America’s sub-prime mortgage industry and made a fortune as September’s collapse came. This landslide victory isn’t all that remarkable when one considers that Bass used to work for Bear-Stearns, one of the top five investment banks on Wall Street prior the collapse. After Kyle Bass ceased to work for this bank, a tip came across the airwaves pertaining to them which ended up gutting their stock and forcing J.P. Morgan-Chase to buy them out by the end of the week. Kyle Bass had intimate knowledge of banking practices which led to the collapse in 2008, and in a way pushed over one of the initiating dominoes that resulted in eventual implosion.
Kyle Bass also runs CAD, the Coalition for Affordable Drugs. This is a front organization whose aim it is to manipulate pharmaceutical stock such that Bass can short-sell his holdings. Meanwhile, the companies who lose out because of it must cut R&D funding to escape bankruptcy, meaning the sick people who CAD ostensibly helps are left to stagnate medically. Meanwhile, Kyle Bass’ personal wealth increases.
The last thing that is very disturbing about Bass is his relationship to Cristina Fernandez de Kirchner. By all accounts, the woman is a socialist despot. Worse, she’s bad with money. De Kirchner has led Argentina into two separate defaults. It only took her thirteen years to do as much, which is historically bad leadership.