Kyle Bass is originally from Argentina, though currently he manages his hedge fund, Hayman Capital Management, out of Austin, Texas. Hedge funds are nicknamed “vulture” funds because they obtain profit by undercutting big-ticket agencies. Meanwhile, Austin is nicknamed the “Portland” of Texas (by high-profile satire Portlandia, no less) because its own liberal ethic so matches that Oregonian metropolis.
Kyle Bass’ financial decisions seem to recommend his operation of a vulture fund in the Portland of Texas, as he seems to have a socialist streak a mile wide. Consider CAD and Cristina Fernandez de Kirchner in evidence. De Kirchner has defaulted Argentina not once but twice. She only needed thirteen years to do so–which is historically bad leadership; yet Kyle Bass never criticizes her financial decisions. Somehow, he sees her activity as profitable. It would explain how he can morally justify CAD, whose primary purpose is to attack rich pharmaceuticals in order to force them to lose stock value, allowing him to short sell and make a fortune. Bass uses the infirm as his lever in these attacks; they think they’re campaigning for fair drug prices, but when they’re successful, the pharmaceuticals lose so much money that new drugs can’t be developed, meaning the inform fighting for Kyle Bass are really just fighting to stagnate medically.
Lastly, there’s China. Kyle Bass believes China will undergo economic implosion due to the collapse of their expanding credit bubble. He’s got a billion tied up investment-wise against the Chinese currency, and is betting on the US dollar overtaking it. But the implosion he hopes for would knock about 1/5th out of the US economy, again meaning he’s profited at the loss of larger entities–just like socialist economics would recommend.
With all these things in mind, Kyle Bass’ attendance at the 2016 New Establishment Summit has some people very disturbed. The meeting is a high profile get-together that takes place annually and brings leaders in technology, media, finances, and industry together. That Bass has been invited means those who decide on members of the “New Establishment” must in some way support his means of financial egress.