Kevin O'Leary, 'Shark Tank' star and millionaire entrepreneur, says every American should be asking themselves why their money is being used to backstop bad policy.
O'Leary Ventures Chairman and 'Shark Tank' star Kevin O'Leary explains why the U.S. doesn't need regional banks, and discusses getting better returns from women-owned businesses.
After the latest installment of market fallout from the Silicon Valley Bank collapse contagion, "Shark Tank" investor and– a.k.a. "Mr. Wonderful" – explained why regional banks shouldn’t exist and he’ll no longer invest capital in Democratic, anti-business states. "I think everybody should ask this of themselves. I live here in Florida, we're a pro-business state. I don't do business in California, New York, Massachusetts or New Jersey," O’Leary said in a "" appearance Friday. "They're no-go states because of bad policy, high taxes, just places you don't want to invest your money... California is not even open for business, in my opinion, so I would never put money there.
The big question Americans should be asking, he continued, is "why am I being asked to backstop an account in California in a regional bank there called First Federal or Silicon Valley, bank names no one had heard of two weeks ago?"
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