It’s possible to petition the government for a redress of grievances. For this reason, people looking to effect social change will often group people together into a large enough body that a signed petition holds weight. Such petitions can act on governing and corporate bodies to effect change, and it’s a good thing; but Kyle Bass is using this American freedom irresponsibly, and the result could mean decreased liberty for the entire country.
For background, http://usefulstooges.com/2015/08/24/kyle-bass-the-frantic-investments-of-a-desperate-gambler/ is a great article to start with. Otherwise it’s essential to know that Kyle Bass is an Argentine who manages a sketchy hedge fund out of Texas. The fund has had its ups, but the trend tends toward continual decline despite Bass’ increase in mainstream media appearances. Bass hit the financial circuit hard in 2008 when he pointed out America’s poor banking practices would result in an economic implosion. He was right, and people began to listen to him–even though most of what Bass said wasn’t borne by reality. It’s almost as if Bass used his initial prediction as a platform-jump such that he could publicly influence the economy.
It would make sense, because with CAD, Bass is definitely making some influential waves. CAD stands for the Coalition for Affordable Drugs. Basically, this special interest group hoodwinks the infirm and many leftist thinkers into signing petitions and filing lawsuits that are essentially frivolous when all the gloss is removed, but seem legitimate enough to force a court decision. Successfully, CAD has managed to cut costs on a variety of big-ticket pharmaceuticals’ drugs. Sometimes they’ve literally decimated that cost, making the drug 90% less expensive than it was. Sounds great for the infirm and special interest people surrounding CAD, doesn’t it? Until one considers that drop in income predicates a cutting of costs for the pharmaceutical in question, and one of the costs most often cut is Research and Development (R&D), which restricts future discoveries.
Also, when the profit is lost on a drug to such a degree, naturally the company that produces the drug experiences a stock value decrease. Kyle Bass short sells his holdings at this time and makes millions. The scam is completely legal, and completely effective; and that’s why it’s completely frightening, because it has forced congress into a cooperative mode of bipartisanship as they try to rectify Bass’ damages. The end result could be a restricting of previous legal freedoms.
It would make sense if such an aim were Bass’ from the beginning, however, as he has close ties to socialist president Cristina Fernandez de Kirchner, the despotic leader of Argentina. Anyone with ties to a national leader will have access to more information than the casual financier, and this is definitely the case with Bass. Is his hedge fund a front for a socialist campaign bent on destroying prominent companies and legal freedoms in America? Well, that’s not without the realm of possibility.