, the "Shark Tank" star predicted "all kinds of new regulations" would be created for the regional bank system."We have more of those black swans swimming in the lake, we don't know where they are," O’Leary warned.
Regulators took an "isolated incident" and applied it as an overall banking concern, ultimately putting up a "moral hazard" in front of the industry, O’Leary argued. "This is not like '08 in any measure… Silicon Valley Bank had stupid loans out. That's the bottom line, everybody's figured that out.""If we had just let that collapse before we got into panic, we would have had a much better situation. We would have said: okay, 95% of these assets were covered, no problem. And so 5% for people that had more than $250,000 per account is something the bank could have absorbed," the investor explained.
Interesting. Kevin O’Leary sums it up. And it clears, Biden’s administration continues to make bad decisions. No consequences for banks who mismanage funds of others. Legalizing theft! As Taxpayers pick up the tab.
I agree, a rookie mistake tell me the ceo was appointed as a favor. Any rookie in finance knows you don't buy long duration bonds with rising interest. I have seen Bonds droop 50% in rising interest rate times.
Capitalize gains and Socialize losses was a quote from someone on CNBC FASTMONEY. Spot on! CNBC
And moved them where
Buy Varney a pair of glasses. He can't read the boards and stumbles and stammers.
He’s investing in a new Crypto exchange headed up by a Stanford Grad who’s parents are both lawyers
Always a lot late
I find it I interesting that we are unable to watch FNC and Fox business this morning due to “technical difficulties” yet MSNBC and other liberal networks come in just fine. I than saw that ultra liberal Comcast owns 49% of Midco. Do better Midco. Your bias is showing.
It was a bail out and a pay back to donors. Check out the names and see contributions to Biden and the Dems
Jim Cramer on CNBC right now is must see tv. He bought treasuries last week.
SVB is now a radioactive cesspool of waste.
DEI - the cure for TDS TRUMP2024