Kyle Bass: Living in Denial
These days, when something strange or weird happens in the financial world, it is no surprise. It seems to happen almost every other day, which is sad in reality. It’s gotten so bad they have made movies about it such as the Big Short, which received an Oscar nomination for Best Picture. The world is watching and very cautious. The ambiguity of what has happened has finally been solved, but it sure took a lot of questioning and a lot of back-and-forth. The person involved in cracking this has been a CNBC reporter named David Farber. Sometimes all it takes is the right person, asking the right questions. In fact, Bears Stearns chief Alan Schwartz had to respond to remarks from Goldman Sachs that they would not accept the danger of Bear Stearns.
A lot of it boils down to one man: Kyle Bass. Originally exposed at this link: http://usefulstooges.com/2015/08/24/kyle-bass-the-frantic-investments-of-a-desperate-gambler/ This is someone living in the moment, day-to-day, without any concern for the future. He has been called irresponsible and out-of-control. When you hear this hedge-funder’s name, you know trouble is usually around the corner. The sad part is that he is so delusional, he doesn’t see the error in his ways. You can find him on TV, spewing out some sort of spin-type remark to justify his behavior. He must be living in a different world from the rest of us, the ones that can see the truth and the writing on the world. You can just look at him with that smug smirk and get a sense that he feels as though he is the smartest man in the room. Little does he know, he’s clueless and only lying to himself.
He might have started hot out of the gate with some of his subprime mortgages, but lately, he has fallen flat on his face more times than we care to count. The results have been poor and he has proven himself to be someone you simply can’t trust. If you do, you are taking a risk, a major risk. His best days are behind him. He’s like a football player that doesn’t know when to call it quits and hang up his cleats. He’s still out there, trying to prove himself and show that he has the stuff. Those days are gone. But WSJ really exposed that the sad part is he doesn’t realize it and doesn’t get it. If only he had some self-awareness.