News & Analysis
Hedger Kyle Bass Basically Tells the BBC That European Banks Are Insolvent
Kyle Bass is appearing today on the BBC to explain why it is impossible for the EU to create a "closer union" out of the current crisis. The BBC has promoted his appearance with a video-teaser that we link to below.
It seems a noteworthy interview because unlike many "mealy-mouthed commentators," Bass pulls few punches. According to the BBC, Bass is "a hedge fund founder who saw the financial crisis coming and made a fortune from it – first from America's sub-prime mortgage crisis and then from betting that Greece would default."
Here's more from the BBC promo ...
Mr Bass told Sarah Montague that Germany cannot be expected to bail out the PIIGS countries – Portugal, Ireland, Italy, Greece and Spain, and that only a massive write-down in those countries' debts will solve the crisis.
You can watch the full interview on BBC World News on Tuesday, 15 November at 0930, 1530 and 2130 GMT and on BBC News Channel on Tuesday, 15th November 2011 at 0430 GMT and on Wednesday, 16th November 2011 at 0030 GMT.
Please click on photo to watch video, currently posted at news.bbc.co.uk.
Posted by Dilence Sogwood on 11/16/11 10:14 AM
"It seems a noteworthy interview because unlike many "mealy-mouthed commentators," Bass pulls few punches."
--This is because you found a man with his money on the line. He is not a "commentator" !
When you have money on the line you seek the truth. This is very different from Angela Merkel or Tim Geithner seek.