the many of us who will be anxiously awaiting those revelations, should they come, is my guest sheila beara long-time republican. she was appointed the head of the fdic. during the financial collapse, she oversaw the takeover of more than 300 banks that went belly up and was an outspoken opponent of the taxpayer bailouts. as one influential observer wrote during that time, sheila bear never forgot her most important constituency isn't the thousands of banks she regulates but the millions of americans who use them. she now has the systemic risk council, an independent committee formed by the pugh charitable trust to monitor what's being done to prevent another financial collapse. she was at this table a few months ago to talk about her book "bull by the horns: fighting to save main street from wall street and wall street from itself." i'm please the to welcome you back. >> thank you. >> i thought perhaps we were getting the bull by the horns until i saw those hearings last week. >> yeah, it really was amazing. a lot we knew already, but it was really laid out in gruesome detail in that repo

so here on what should happen now in a fox business exclusive, sheila bear, a former fdic chairman andrable by the horns. nice to have you back on the show. thank you for coming on. let's get right to it. you think that anyone learn anything n and significant as a result of today's hearing? has been a while. there has been a lot of meetings, discussions. me, do we learn anything new today? >> i think we learn more details. it was bad when it first came out. it was equally bad looking at it through court again today and hearing. and, you know -- so i hope this will be a catalyst for much more aggressive regulatory action when it comes to regulating these very large institutions. one of the things i was surprised by in the report, the recommendations that were made in the report were pretty tame, calling for better reporting on its positions. clearly as strengthening of the volker rule, i think, is justified by this report. also, much stronger capital rules and stopping the practice of letting banks said basically their own capital requirements with their own models. i think one othe mos

it's an unconional delay and i proposed the white house immediately nominate sheila bear. shes one who can speak to the macro economic issues and the financial asset potential bubble and regulations they've been discussing in the show so far. >> rose: used to run fdic. >> that's correct. >> rose: when you look around at where the weaknesses might be in the global economy, are what are they? when are the questions. >> the unknown variables that we know. so the knowns are europe unless they have another major flare up and of course the middle east and canada. the worst situation over there. the other thing to see the fed is now going to perform an act it's never performed. it has to try to get out of the unprecedented simulus they pumped into the global economy without messing up the global economy. they em -- themselves don't know how to do it. that's another big issue and it may not happen this year but it will happen at some point. and then of course the u.s. economy. the u.s. economy's crucial. in order for the world to grow. euro has to go so the economy has to continue