, as regulation spawned from the crisis will make most banks unprofitable. He also slammed the rescues as protecting what he described as incompetent bank management, which he thinks set a bad precedent.
Tighter regulation will turn banks in general into a"highly-regulated utility," and a trade rather than a long-term investment option, O'Leary said on Wednesday. The shift is also certain to kill off smaller banks, as those are a relic from the past when regional banks were needed to support the local economy and community activities, but digital banking has rendered that function obsolete, he said.
The same Kevin O’Leary that pumped crypto stock by getting paid off?
Thought he went to jail
Says the guy that backed SBF_FTX
What happened to this guy? He turned into a real jerk.