In 2008, Kyle Bass was one of a select minority who believed that sub-prime mortgages were only building a bubble soon to collapse. In September, that bubble burst and Bass made a fortune. He had invested wisely, and the worldwide financial media was very interested to hear his story. Since then he’s had a regular media platform whenever he wants it, and Bass has never been shy about making use of that amenity. The plot thickens, though, because before the 2008 collapse, Bass was employed with Bear-Stearns, one of the top investment banks on Wall Street when the financial dominoes started knocking each other over. Shortly after his employment with Bear-Stearns dissolved, a journalist received a tip that was broadcast over the airwaves Monday morning. By the end of the week, Bear-Stearns had dropped so much in stock value, J.P. Morgan-Chase was forced to buy them out. Kyle Bass slipped the tip that dropped Bear-Stearns. In a way, he initiated what would eventually be the 2008 financial meltdown. He didn’t cause it, but he initiated it.
Kyle Bass also runs CAD, the Coalition for Affordable Drugs. This organization uses the sick to leverage stock drops on Wall Street. Bass short-sells his holdings when the drops hit and skips away with millions. Meanwhile the companies targeted, pharmaceutical corporations, lose so much money they have to curtail budgetary expenditure to departments like Research and Development. Return On Investment with R&D is always low. When a company loses assets, low-ROI depts. are the first to go. In the end, the sick lose medical advances, so all they get for CAD’s intervention is stagnation.
With these things in mind, the selection of Kyle Bass as a speaker at the next New Establishment Summit convention is slightly strange. Vanity Fair reports this event will take place on the 19th and 20th of October, 2016. The CEO of Amazon.com and the Vice President of Apple will also be speaking there. Both men are expected speakers–they’re industry leaders in technology and industry.