The federal response to the financial crisis was “too skewed” to favor bankers on Wall Street instead of families on main street, according to former federal bank regulator Sheila Bair.

“I think we were too skewed in our efforts towards stabilizing big Wall Street firms and not so much on Main Street,” Bair said. “We still need to do a lot of work there.”

Bair, who served as head of the Federal Deposit Insurance Corporation from June 2006 to July 2011, witnessed the 2008 financial crisis firsthand and took on an important role in the subsequent efforts to recover from it. Shortly after the crisis, the FDIC she headed moved to take over 25 failed banks. Blair, however, didn’t always agree with the other key players in the administration, especially her colleagueTreasury Secretary Timothy Geithner, when it came to the bailouts of banks termed “too big to fail.” 

“I think we should have imposed more accountability,” she said. “Sure, we had to step in and do something. But why couldn't we have required bond holders to take a little bit of a haircut?” Bair suggested. “They couldn't take 10%? You know, they had to be paid off at par.”

Bair’s criticism of Geithner did not end with his handling of the bank bailouts. She also leveled criticism of his negotiation skills when responding to the fact that the Obama administration had recently tapped him to be the lead negotiator for the White House on the fiscal cliff talks.

“I don't think this is Tim's strong suit. I think Tim was given the job of Treasury Secretary because he understood the banking system and he -- the President wanted to make sure we had continued progress to banking stability, so that was really why Tim was put there,” Bair, Geithner’s former colleague, said. “He's not a budget guy, he's not a tax guy, he's never really worked in this sphere. And I think somebody like Erskine Bowles, who has stature on the Hill, can work with both sides of the aisle, who has strong … years of credentials in this type of area would be a very good pick to be the new Treasury Secretary.”

Bair, who was singular in her efforts in 2007 to stem the tidal wave of homeforeclosures before they took place, also spoke out about the government’s failure to alleviate the housing crisis for middle class families, and in turn, its contribution to the growing disparity in wealth in the United States.

“For main street families, most of their wealth is in their house, and once they lose the equity in their house, they lose their wealth. You know wealth -- income disparities, but wealth disparities too – are as bad as they’ve almost ever been in this country right now, and that’s because of the combination of bailout policies and monetary policies.”

Sheila Bair is now Senior Adviser to the Pew Charitable Trusts where she continues to monitor and encourage regulatory reform as Chair of the Systemic Risk Council alongside Former Senator Chuck Hagel and Former Treasury Secretary Paul O’Neill. For more from Sheila Bair watch the full PRESS Pass above.

Famed Hollywood Producer Harvey Weinstein, a top Obama supporter, denied charges that his new film is being released as a way to bolster the president's re-election chances.  

"It's not political; it's historical," Weinstein said. 

The movie, Seal Team Six: The Raid on Osama bin Laden, which critics say paints President Obama and his role in ordering the assault in a favorable light, is set to air this Sunday night, just two days before the presidential election.

"I would not do anything political … when it comes to making one of my movies. I feel a sacred trust with the audience."

The film's director, John Stockwell (who you might recognize from the 80s blockbuster Top Gun) lauded the president for green-lighting the raid, even though it was a "politically unwise call."

"To me it’s unfortunate that certain people are unwilling to give the President at least partial credit for green lighting the raid because I’m certain that if that helicopter crash had resulted in dead Americans, if Osama Bin Laden had not been there, he would be taking the blame and this election would be much different."

Weinstein also didn't miss an opportunity to hit Mitt Romney when asked what kind of film he would make about the GOP challenger.

"I have a great title for the Mitt Romney movie and I’ve done some research. Just like the Twilight series, I think Mitt Romney… should star in Hindsight because … anytime he does something he always wants a do over if he gets it wrong."

"I told Brad Pitt and Bradley Cooper about that,” Weinstein continued. “They’re both up for nominations … this year and they’re worried that if Mitt makes that movie, it could be a big challenge at the Oscar for best actor."

You can watch the entire interview above to hear more from the two men about Seal Team Six which airs Sunday night on National Geographic.