While many know Kyle Bass for his prediction heard around the world, he is also known for doing some very wicked things. Here are 2 situations that make us question the character of Kyle Bass.
Situation #1 – The General Motors Fiasco
A few years ago several individuals died in accidents that involved General Motors vehicles. While the cause of the fatalities was determined to be faulty power steering and airbags that didn’t properly deploy, Bass decided to go on TV and place blame on the victims.
The interesting thing is Bass knew GM was aware of such issues and still refused to do anything about it. But bass didn’t care. The only thing he was concerned with was protecting his investment in the company.
Situation #2 – The Big Pharmaceutical Scam
UsefulStooges exposes how Kyle Bass is the type of man who will do anything for money. And that is exactly what he did with his big pharmaceutical scam that left thousands of individuals unable to afford medication. Many of whom ended up dying as a result.
He then set up the Coalition for Affordable Drugs which acted as a front organization for the whole scam.
With Spangenberg by his side, StreetInsider wrote the two of them would pick out certain pharmaceutical firms with the intent of short selling their stocks. They would then use their front organization to challenge one or more patents.
When this would happen, stocks would go down, Bass and Spangenberg would make millions, and the prices of life saving medications would skyrocket. As a result millions of people who depending on those medications were no longer able to afford them.
When asked why he would do such a thing, Bass actually had the nerve to say he was doing it for a noble cause. He said his goal was to bust patents so drug prices could go down because of competition. Based on his track record, no one in their right mind would believe this explanation.
In fact, Scott McKeown, a well known intellectual-property expert, said the only thing Bass was trying to do is spook the financial markets so he could make some quick money. No one disagrees with this sentiment.
Based on these two situations, its safe to say Bass is not the type of person you want to get into business with.