Shark Tank’s Kevin O’Leary Warns Government Insuring Silicon Valley Bank Deposits Is Only a Victory for ‘Idiot Bank Managers’
‘This is going to create some very perverse acts by bank managers and crazy behaviors and in the end, it’s not a long-term solution whatsoever’
EXCERPT:
O’LEARY: “I don’t care what bank we’re talking about anymore, you as a depositor have no risk whatsoever so what stops the idiot bank manager going forward from doing anything they want within the regulatory environment, taking as much risk as possible to get the stock price of that bank up.”
(Via Mediaite)
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