Kyle Bass @ AmeriCatalyst 2010 | ‘Confessions of a Dangerous Mind’
NOTE: This video has been on Vimeo since late 2010, early 2011. Now that YouTube accepts videos longer than 15 minutes, we’re posting it here. Enjoy! We’ll update with Kyle Bass Redux after AmeriCatalyst 2011, Nov. 6-8
As Founder and Managing Partner of Hayman Advisors, LP, J. Kyle Bass has proven himself to be one of the most well respected hedge fund managers and forecasters in the global investment community. Renowned for his conviction as well as his investment savvy, Bass hit the headlines with his prescient trades in shorting the subprime mortgage market in 2007. Behind the headlines was one of the most unique and rigorous investment methodologies ever used in mortgage-related investing. Since that time, Bass has been one of the most proactive investors in Washington and abroad, warning about unsustainable fiscal deficits poised to destabilize the global economy and markets with a magnitude similar to the 1930s.
Todd Groome and Toni Moss spoke with Kyle at AmeriCatalyst 2010 in Austin in September, asking him about his thoughts on prospects for housing market recovery, current policy issues and national debt implications, global debt imbalances and his perspectives on the influence of policy on the timing, sequence and magnitude of potential sovereign defaults and debt restructurings.
Duration : 1:1:39
MARKET MELTDOWN
In a Brooklyn neighborhood hard hit by the foreclosure crisis, Occupy Wall Street joins local community groups to reclaim a bank-owned property for a homeless family.
President Obama often makes the claim that he inherited the country’s current economic crisis. But in truth, it was Obama and his fellow Democrats who supported, and facilitated efforts to force the banks to issue high-risk subprime mortgages to unqualified borrowers, which ultimately brought about the collapse of the U.S. economy. Hence, Mr. Obama is not the Inheritor-in-Chief that he claims to be, but rather the Bequeather-in-Chief, who helped facilitate the economic downturn.
Group presentation for FIN4303
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Sub-prime mortgages were supposed to put an end to segregated neighbourhoods by allowing affordable housing to more people. But a new study shows that better access to mortgages leads to more – not less – racial segregation.
The subprime crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst (or market correction) and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see Financial crisis of 2007–2010 or Global financial crisis of September–October 2008. Home sales continue to fall. The plunge in existing-home sales is the steepest since 1989. In Q1/2007, S&P/Case-Shiller house price index records first year-over-year decline in nationwide house prices since 1991. The subprime mortgage industry collapses, and a surge of foreclosure activity (twice as bad as 2006) and rising interest rates threaten to depress prices further as problems in the subprime markets spread to the near-prime and prime mortgage markets.