the former federal deposit tins corporation chair sheila bair joining us right now. think you are in favor of simplifying dodd-frank but you think the industry needs to continue to have this regulation. explain to us. >> i do think there are areas that could be simplified. there is a lot of complexity in dodd-frank. i think it it hurt the smaller banks. simplification could be helpful as long as that's not a rules for weakening -- not a ruse for weakening. it's important not to weaken on capital requirements. all the bank share prices is more anticipating the capital requirements will be reduced. and that won't do much to help the economy. gary: did you say you think dodd-frank benefited the big banks? >> i think the unnecessary complexity has benefited the big banks. you look how complex some of the liquidity rules are. the volcker rule. compliance offices and teams of lawyers can handle it. regional banks and smaller banks cannot. it disproportionately impacts them. simplify kaig can ease the burden on the smaller banks. and make it more effective. the rules are ha

a fox business exclusive, former fdic chair sheila bair with us live how close we are to real danger. shooting for lucky 13, right now the dow is down 27, that could mean nothing at all by the time this hour ends. will we see another last minute turnaround that brings us to historic 13th record close? don't you want to witness that happen? might happen with less than an hour to the closing bell. stay right here. let's start the "countdown.". >> breaking news -- 1896, that's when the dow was first calculated on wall street, and something might happen today that's never, ever occurred since then. right now i'm going to say way too close to call for the dow, though the dow is down 28, looks likoon easy no that we'd see a record. remember, that both yesterday and friday, the dow floundered in the early hours and hit the flat line midday and took off flying in the final 19-20 minutes of trade. you're going to have to stay with us all hour to see if there is a historic baker's dozen. glad you are with me. we'll get you the numbers, the dow down 27, s&p lower 7. the nasdaq is down 35. as eve

liz: that's former fdic chair sheila bair on "wall street week" tonight at 8:00 p.m.astern, i am hosting with gary kaminsky. she's fine with removing some of that load off the small and regional and community banks of the onerous rules. let's see what the chairman of midsize bank signature bank says. you guys got swept up into this regulatory nightmare as well, did you not? >> we did, and especially being a midsize bank, many of the rules that were applicable to jpmorgan and citibank were thrown upon us. liz: which is really ridiculous. it's funny, the road to hell is paved with good intentions, dodd-frank intentions were let's never have the crisis happen again. with one size fits all, you were swept in and ensnared. what's the worst part of the ensnarement? >> first of all, everybody involved in crafting dodd-frank, all the democrats in the house and the senate side as well, thought there would be a second bite at the apple. they knew there were mistakes and thought they would fix it. what happened was senator kennedy passed away and the law became fossilized. no ch

let us help grow your company's tomorrow - today at esd.ny.gov liz: former fdic sheila bair on wall streetgeir kaminsky joining me now. this market is surprising a long-time market participate pant like you. >> it is. talk about the press conference. without giving opinions what it said, the market doesn't fluctuate with volatility when you see this. we have strange things happening even the best investors i talk to every day are scratching their heads. liz: you're saying this was push me, pull you, news conference you would have expected wild swings and we're basically hugging the flat line? we could see another record for the dow jones industrials for two minutes? >> market seems to price in the tax cuts and deregulation, regulatory elimination in such a way nothing else matters. you and i been around a long time. some day it will mat are. liz: that is the time you have to watch and be careful. financials do very well, energy do very well since the election. what is the area that people aren't talking about that you say will do well? >> i don't believe we'll see the fed raise rates three

someone like sheila bair. that is what you need to put in there. the trouble mr. like himself. you know, i was just down to that beautiful resort he has in florida like you. i was there on wednesday night having dinner. it's a great place, but making financial policy not like making a great resort. stuart: we'll leave it at that. enough of the goldman sachs hacks, some will like that including judge napolitano. great stuff there, peter. >> what about me? stuart: we understand, gotcha. thanks, sir. >> bye-bye. thanks a lot. stuart: a rewrite of the president's executive order on immigration could be coming very soon, maybe today but a rewrite is probably coming fairly soon. judge andrew napolitano back with us on this subject. now, you said something very important right at the top of our 9:00 hour. it is 2 1/2 hours later. let me see if i got it right. if president trump rewrites the executive order in away that gets rid of the problems with the ninth circuit court of appeal, if he does that he is free of all the legal constraints placed upon him by west coast jud