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Story of the day
Kyle Bass' Video on the Global Economy
Kyle Bass video on the global economy and finance situation (BBC Interview, recorded 15.11.2011). Kyle 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. 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.