“Shark Tank” investor Kevin O’Leary, a businessman and investor, has offered his take on the banking crisis following Federal Reserce Governor Micahel Barr’s Congressional testimony that the central bank is looking to enforce stricter regulations for regional banks.
What’s In Store For Regional Banks: O’Leary came down hard on bank executives and said, “When you have top lawmakers call you worst of the worst of the worst, it just doesn’t get any worse.”
“It has been worse for a consumer who has a deposit of over $250,000 in a small bank somewhere in the U.S., watching all these play out in Washington and all the grandstand hearings,” O’Leary said in an interview with CNN.
“This is the beginning of the demise of small banks for sure and we are going to end up with an oligopoly of very large institutions …
