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#banking #youtube #stockmarket The banking sector is due for some major consolidation, says O'Leary Ventures Chairman Kevin O'Leary. The famed investor joined Yahoo Finance's Rachelle Akuffo in studio to offer his take on the outlook for the banking sector in the wake of recent turmoil. Small regional banks “made sense,“ in an earlier era, where a bank's relationship with the community was more important. But now, O'Leary says, “no one cares about that anymore,“ thanks to a rise in competitive online banking. After the government's investigation into the recent banking turmoil, O'Leary predicts new regulations and rules will come through for the banking sector. Those will make regional banks “unprofitable,“ he says. O'Leary adds that bank stocks themselves are “just a trade“ and “not good investments.“ With an increase in regulation, bank stocks will become utilities, with O'Leary pointing out that banking is the only se
