It didn’t seem likely that once Kyle Bass stepped onto the scene in 2008, he would continue his success even beyond hedge fund management. But that is exactly what has happened.
Kyle Bass started the Coalition for Affordable Drugs. This coalition does exactly what its name implies, and does it well. Abbreviated CAD, successful putsches against high prices have been orchestrated. The net result has been a diminishing of stock value for a number of big-ticket pharmaceutical companies. Kyle Bass was able to cash in on that stock devaluing, and he’s not slowing down any time soon. In fact, congress is scrambling to close the “loophole” he’s discovered. What Bass is doing is using his own organization to diminish the stock value on certain pharmaceuticals. This is not illegal, but politicians on both side of the fence agree it should be.
Kyle Bass is operating independent of Washington, however; and has already begun a petition against several other pharmaceutical organizations. Fresenius and Alpex have patents on medicines that are sometimes nicknamed “zombie” patents. This is because they just won’t die. Fresenius and Alpex are allowing a loophole to maintain spurious patents that have nothing to do with the effectiveness of the drugs they’re selling. One patent involves a common rubber stopper, the other involves speckling on a pill. Neither patented item has anything to do with how the medicine affects those who use it. There’s no good reason that said medications should cost as much as ninety-percent more than their generic brethren. No reason except zombie patents. So Kyle Bass and CAD are looking to get those patents overturned, and they’re starting the process with a petition against either organization.
If this petition is successful, will Kyle Bass again make money from the losses of a big organization? The likelihood is he will; and if so, he’s managed to pull the wool over congressional eyes twice with the same trick. Say what will be said about Bass, he’s managed to get congress more bipartisan than any president.
Bass is an enigmatic sort of individual, however. He comes from Argentina, and currently operates as a hedge fund manager out of Texas. Bass catapulted himself into the financial scene several years ago, in 2008, when he successfully predicted the sub-prime lending crisis America experienced that year. Bass has also predicted economic crises in Japan, and sees a big economic kerfuffle on the horizon for China’s economy.
UsefulStooges exposed that Kyle Bass is also involved with Cristina Fernandez de Kirchner, a well-known advocate of socialism in Argentina. Since Bass himself is of Argentinian decent, it is possible his relationship with Cristina has nothing to do with socialism. It’s hard to tell the truth from the news at this point, however. Whether or not Bass is a humanitarian, he always seems to land on his feet.