one person who knows both sides of that equation is sheila bair.h bank with a big presence in the u.s. she joins me now in an exclusive interview. sheila, it's great to see you. >> thanks for having me. >> can we start with talking about what's happening with regard to foreign banks in the u.s. what's your take about the fed's new rule and how much more capital they have to hold? >> i am very supportive of those rules. i think it's important we have standalone laugh quiddity with the u.s. operations of these large foreign entities, many of which don't have high levels of capital so i applaud the fed. i have been supporting this move for a long time. they did give them a bit of a break, the foreign banking operations, they gave them a bit of a break on capital. they have a few years to get up to 3%. most of them are funding their repos with 0% capital, 100% leverage. it was a little out of control. it's a very positive thing. they're still getting a bit of a break on capital but i really applaud the fed on this. i applaud janet yellen and dan tur r

when you are with two barely 30-year-old geniuses like gavin mcintyre and evan bair, you are sure tole on something scientifically complex. >> you see the mycilion growing into the log. >> somehow it involves a mushroom. >> we are here at incoe baitive design, i'm a cofounder and scientist at this biomaterial company, where we take local farm waste, mixing it with tissue from mushrooms and growing replacements for plastic used in protective packaging. >> why is it important? what is the problem with polysterene. >> there's packaging, building constructive, tenses of millions of dollars worth used. they are not compatible with the earth's atmosphere. >> we have all seen this. every big product is packaged in this material. these are made from unsustainable petrochemicals and can take up to a hundred years - maybe more - to biodegrade and leave the other. we use agricultural waste, like corn husks as a resin. we combine them, we grow it in a mould to make a shape from everything from packaging. >> a mushroom growing out of a tree is comprise the by mycilian. if you look you you find fi

kamala harris, quincey jones, we have the chief of police, the chief of the fire department, larry bairom the giants. a lot of dignitaries here. the mayor has a knack for speaking. he's being classic willie brown. coming up later tonight, we'll hear more of his remarks on tonight's newscast. live on treasure island, sal castanedo, ktvu channel 2 news. >> all right. thank you for that update. >>> well, pg&e is stepping up security at a substation near south san jose. that was attacked by a sniper last year. the utility plans to install opaque fencing around the perimeter of that substation and several others so no one can see inside. a sniper fired 150 rounds at the metcalf substation and caused $15 million in damage. the fbi won't comment on the investigation but some believe it was an act of domestic terrorism. >> work on the fence is scheduled to start or should start sometime in the next few months and metcalf will be the first substation we're working on. >> he also says alarms will also be added along with other measures. the project will cost $86 million over a three-year period.

who pushed for the repeal of glass steagall who deregulated the derivatives market and who sheila bair wrote quote was part of the deregulatory cabal that got us into the two thousand and eight financial crisis now this is the same financial crisis that increased the gap between the haves and the have nots summers is one of the haves with a fortune estimated to be between seventeen and thirty nine million dollars amassed by consulting for financial firm financial firms like city now summers went on to write that president barack obama is right to be concerned those who condemn him for tearing down the wealthy and engaging in un-american populism are to put it politely lacking in historical perspective. now kind of like the pot calling the kettle black a little bit later i know especially when your historical perspective is based on that big picture t.v. show. you try to give me orders with you mean she mistook you for soup but you don't kill the living god it was a show. for a hole in the director david stockman joins me now from our new york city studio to discuss yet but us budget de

who pushed for the repeal of glass steagall who deregulated the derivatives market and who sheila bair wrote quote was part of the deregulatory cobol that got us into the two thousand and eight financial crisis now this is the same financial crisis that increased the gap between the haves and the have nots summers is one of the haves with a fortune estimated to be between seventeen and thirty nine million dollars amassed by consulting for financial firm financial firms like city now summers went on to write that president barack obama is right to be concerned those who condemn him for tearing down the wealthy and engaging in un-american populism are to put it politely lacking in historical perspective now.

so he is bair, which is a surprise to me. he's not only fair but says the hotel can wait. it was more like a command. you are coming to my house for dinner. so i set, what am i going to do? he drives a million miles an hour in this country roads connected to the south. no sooner did i get here any breaks out his own homemade his own thought might proceed to get as drunk as i ever have. >> host: i have to read this one part. you say more than three decades later i can still taste the stuff. and as dave enjoyed an occasional bite to martini, but this is nothing i ever considered before. after to my feet were numb, after the third i couldn't feel my face. meanwhile, ms. vanco camp delta them down and started talking even more intimately and he's been really want to talk to you about the thing you're not supposed to talk to them about, his detention. >> guest: at this point i violated my orders. he drives me to his house, starts pouring this vodka a man with no warning starts going on with his detention, none of which are supposed to be doing. but i was trapped and getting inc