Kyle Bass on the greek euro financial crisis

[qncsc]

adequate interview. could have been a great interview if Bass did not have to drive all around and all over these speedbumps (host = in over her head). why blame Bass? he saw the weather (which he has no control over) and implemented a strategy. (1) he was correct in his analysis on the weather and correct on what to do (2) alternatively, the analysis by govts and media reflect a great inability to understand complexity, hence all the personally-charged questions.

[troglodyte2084]

Even though I have been defending the interviewer, Im am hugely grateful to Bass for sharing his wisdom. Dont get me wrong, Im with Bass the whole way.

[troglodyte2084]

Its this sort of hard questioning that has kept a few countries from becoming like the USA. This is how we question our politicians. US could take a leaf.

[troglodyte2084]

It's called "Hard Talk". She has to act tough.

[RockswithVox]

Around 12 minutes, Kyle Bass begins to get annoyed.

[youthanek]

Kyle Bass is amazing. Credit Default Swaps are awesome stuff too. i believe john paulson uses them to bet against mortgage issue in 2008

[TheCristo68]

Bitch your talking to a genius let him speek and stop cutting him off you might learn something .

[fazole]

Why don't they get an interviewer who is FINANCIALLY LITERATE.  Shah Gilani was a huge trader and now decrys Wall Street fraud, for example.

[Lou65a]

British Barbie shut up... it is time to quit your job. You continually interupted a brilliant presentation. You cannot see over the souls of Kyle Bass's shoes.

[jedpaschall]

I'd rather be a janitor for Bass' firm than hold the position this anchor does when what Bass speaks of comes to fruition. Bass' role is capital preservation, which is good for the economy, and so long as CDS' are legal he cannot be faulted for operating within the rules. Had Greece been in better shape Bass would not have made what he did. The man sees and tells the truth and acts on it, is there any surprise when the moronic masses object?

[Only1Transporter]

20:37 'You can't hate the mirror because you're ugly' HAHAHAHAHAHAHA I haven't heard a comeback like that in a while.

[hroard]

bass was talking over her head half the time or more, damn gamblers and their insurance.

[H3cticGypsy]

Well done Kyle on tolerating her superficial agenda and inane aggression in the face of your ultra serious content, you came across brilliantly. Instead of beating up on her guests in some vain attempt at self aggrandisement as head kicking journo of the year stuff, what about intelligent questioning. I reckon send her back to the journo schoolyard for re-education - she's largely style (aggression) without substance.

[RTC1655]

It makes no sense berating guys like Kyle Bass. It makes no sense rejoicing them either. He made good, but only for himself; what he did, did not help society one bit.

[vpatadia]

We celebrate him because he had the foresight to see the TRUTH. People wake up, the world economy is a balancing act. Nothing can be created out of thin air or for free, there is always a cost and a correction no matter the time line. If one end is doing amazing, then another end must be doing bad. It is a fact of life and I can debate and prove it for any, I say Any aspect, object, or idea in life

[lazyfreedom98]

Thanks for the upload. 

[merizobeach]

"You can't hate the mirror because you're ugly"!! Oh, yes! He's talking to you, lady.

[microcapmillionz]

He is the Peter Schiff of the new debt crisis..

[jmcadg]

How fuckin' annoying was that woman. Every time Bass gave an answer she would talk over him. Why ask the question if you don't want to hear the answer! She loved the sound of her own voice. She was desparate to pin the woes of the world on Kyle Bass. What a retard. Then started asking stupid questions like the fort question. Fuckin' derrrrr. Kyle Bass is spot on ever time. I just wish he had just stopped and said, look, stop asking me what your researcher tells you and listen you ugly bitch.

[ginfan1234]

Great video, really interesting guy. Kind of confirms what the likes of Detlev Schlichter are saying.

[berlinjames02]

The interviewer is an idiot!

I wish Kyle would have just said, "Listen dummy, I didn't create the billions in bad debts. The politicians did, so don't get angry at me for betting against their bad spending habits. If you don't like the debt, vote the politicians out of office."

[mu5icaddict2]

lol, I think she's blaming him for the whole crisis.

[Debiquegroup]

the interviewer ruined the interview

[StandUp555]

Great Guy ... Thx

[mannfm11]

anything but the socialist financial system could be a sham

[navyblue12]

You can say a lot about the interviewer (and rightfully so) but she did make a point that was not persued by either of them regarding naked CDS's: "you don't buy insurance on somebody else's house".Is a gov bond the same as a Barclay's one?In a financial world yes; in real life, the answer's not easy.There are obvious pros in keeping a country honest but also perils; that's why insurance companies prevented taking out insurance on someone else's house.Namely that said houses "caught fire" alot.

[omgwtfbbqstfu]

@navyblue12

Well that isn't true, if you actually listened to the interview he takes on that charge and nails the point. If he wins at cds it is only because he saw reality when others didn't. It is a barometer as he said, you do need some mechanism in the market for those who call bullshit on the bubbles.

[navyblue12]

@omgwtfbbqstfu

My point was about NAKED CDS's and indeed not their use by people like Bass who treat them as a hedge on their existing portfolio but by others who use them as a means to break a weak country down.I did expand on this in a reply to another person; unfortunately i can't link you to it, as it is restricted access.So i'll just copy/paste a bit -->

[navyblue12]

@omgwtfbbqstfu

It was then that the yield started going ballistic; it wouldn't have jumped so quickly if the small CDS market wasn't used as a tool to affect the bond prices.Did it change the fundamentals of the country?Of course not.But it did rob it of some available time to change market perceptions.Would it have been enough?Who knows.But the whole thing has a resemblance on "buying insurance on someone else's house".

[navyblue12]

@omgwtfbbqstfu

I acknowledge that there are no easy answers on this subject; i'm not saying keep your hands away from sovereings (god knows they need some pressure to keep them honest) but....it strikes me as odd that when banks get in trouble they're bailed out; but when it comes to countries they shouldn't be even a suspicion of shielding them from their likely fall.And who profits from that fall; mainly the same banks that made the bad loans in the first place for which they got bailed out.

[Redstar1823]

@navyblue12

As you correctly noted, the reason you can't buy insurance on someone's else house is so you don't profit by burning it down. This analogy doesn't apply in financial markets, at least for the larger issues. No hedge fund manager will singlehandedly try to move a liquid market against its fundamentals. He will go broke in a heartbeat. Just ask Mr. Corzine at MF Global.

[ksdreger]

I wonder if she has interviewed some of the bankers that caused this and if she's been that aggressive with them...?

[omgwtfbbqstfu]

@ksdreger

She probably has, and just gets politician answers from them because representing a company they have to give non answers to fend off the questions. With bass she clearly is over her head.

[empireofpassion]

Amazing how stupid and aggressive the interviewer is... Whereas Kyle Bass stays cool and keeps on going to the point.

[utubesqueeze]

@empireofpassion Agreed. She kept interrupting all of his points to trot out some huge cookie-cutter "evil-speculator-right-in-fron­t-of-me-must-follow-public-ang­er" script that completely ignored almost every point he made.

Her name is Sarah Montague of the BBC and compared to another BBC presenter called Stephen Sackur she is completely ignorant of finance or economics, slow-thinking and uncreative.

Thankfully, this was enough of a taster for me to research other information on Kyle Bass.

[KMxStd]

Of course, Mr. Bass made a large fortune and predicted the euro zone crisis! But how?

First, banks such as Goldman Sachs helped Greece since 2002 to cover the deficit through exchange "swaps" with fictitious interest rates. And in 2010 recommended to their clients to bet on "credit-default swaps" on the Greek, Portuguese and Spanish bank debts, to earn money with the worsening financial conditions of these countries!

I am Portuguese and I tell you: this is a crime and a fraud!