Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corporation, shares her views on the Cyrpriot bailout plan and whether such a levy could ever happen to U.S. depositors.

Two years ago this Saturday, President Obama signed the Dodd-Frank financial reform law. Many say the bailout pulled the economy back from the brink. But the ad-hoc nature of the bailout made clear we needed better ways of responding to — and ideally preventing — financial crises.

A bipartisan collection of heavy hitters — including former FDIC chair Sheila Bair and former Fed chairman Paul Volcker — are behind a new push to boost financial regulations, but their quest may be quixotic.

The former chairwoman of the FDIC talks about her new financial watchdog group, the Systemic Risk Council, and the state of the global financial industry.