He made a killing from the 2008 financial crisis by betting against the right financial instruments. He made a killing betting against Greece's bonds before the world knew that there was a European debt crisis.
That European crisis is not over.
Bass cites the fact that the entire world is loaded with debt. Over the past 10 years debt globally has grown at 12% per year while GDP growth has been less than half that.
Bass thinks that the only solution to the debt crisis facing the PIIGS (Portugal, Italy, Ireland, Greece and Spain) is for these countries to write-down their debts.
Sorry there is no embed code for this interesting conversation with Bass. But you can view it here:
http://news.bbc.co.uk/2/hi/programmes/hardtalk/9639507.stm
