his rulings are final, but feinberg desnries he is a pay czar -- feinberg denies that he is a pay czar. >> czar sounds like i am issuing imperial edicts that have to be followed without question. i think overall there was a healthy degree of cooperation and i'm grateful to these 7 companies for working closely with me on a voluntary basis. >> feinberg also said president obama played no role in the ultimate decision about corporate compensation. one exception to this, the $500,000 salary limit will apply only in november and december of this year, and the government will not take back compensation already paid out. bret: major, thank you. first-time applications for jobless benefits increased more than expected last week. the labor department said new claims shot up by 11,000. the index of legalling economic indicators rose 1% in september, up 1.567% in the last five months, the strongest performance since 1983. the dow gained 132 today to go back over 10,000. s&p 500 picked up 11 1/2 and nasdaq was ahead 14 1/2. president obama's top economic advisor says the $737 billion stimulus has

the white house pay czar kenneth feinberg announced plans this week to drastically cut the salaries of highest paid employees at the seven companies that received the biggest taxpayer bailouts. the cash portions will be slashed an average of 90% over last year and the federal reserve proposed new pay guidelines for all banks it regulates whether or not they were bailed out. president obama praised feinberg's ruling, calling it an important step forward in curbing the influence of executive compensation on wall street, while still allowing those companies it succeed and prosper. >> i've always believed that our system of free enterprise works best when it rewards hard work. this is america. we don't disparage wealth. we don't begrudge anybody for doing well, we believe in success. it does offend our values when executives of big financial firms, firms struggling pay themselves huge bonuses even as they continue to rely on taxpayer assistance to stay afloat. >> joining the panel this week, mary o'grady, assistant editorial page editor james freeman and washington columnist kim strossle.

kenneth feinberg was aware of that. >> the pay czar. >> he's the pay czar. he did try to say we have to keep the good human capital at the companies if we want to get them back on their feet. there was no way he was going to satisfy everybody. >> paul: right. ism possible job. >> what is more troubling here also is the fact that for example feingogol goldman s also part of the bail-out money but paid it back completely gets off the hook. they don't fall under any of the compensation limits that feinberg is assigning. >> they don't fall under feinberg but they would presumably fall under the fed guideline because they're a deposit taking institution. >> go back to when they took the tarp money. they claim now we didn't really need and there are a lot of people around the table that said we were worsed. but another subject is why was there a lack of transparency. a closed door session where paulson decided what he decided. >> paul: now it's the wheel house on the lack of transparency. >> the czar thing is the danger is it spreads to the whole economy. it's fun

and in the end, major garrett did sit down and interview kenneth feinberg.aw that last night right here on fox. very shortly peter johnson jr. is going to be joining us, i believe in the next hour to talk about the constitutional ramifications of what is going on with this. gretchen: on a much lighter note, could your dog or cat be bad for the environment deceive steve the planet, gretchen. gretchen: i thought it was the responsibility of taking the dog out and feed them. no, not apparently. your dog or cat could be contributing to global warming. one outfit want you to try a different sort of a pet. they have come up with possibly a chicken. steve: new zealand professor and his wife robert and brenda yale says it's time to eat the dog. they have done an analysis of the kind of carbon footprint that your pets are creating. if you have a medium-sized dog, they say the carbon footprint is equal to operating a toyota land cruiser 6,000 miles a year. and if you have a cat, that equals driving a volkswagen. brian: i have a minivan at my house. steve: you have a s

feinberg, kenneth feinberg, thank you so much for joining us. >> thank you. >> major: thank you for the update and thank you for spending part of your 4th of july with us. happy 4th of july to you, sir. >> thank you. >> major: up next, the president campaign style bashes the republicans for, well, just about everything. we'll hear from the top republican senator and his reaction right after this break. >> major: president obama as etn into our own hands. soak our yards in color. get our hands a little busier. our dollars a little songer. and our thinking a little greener. let's grab all the bags and all the plants and all the latest tools out there. so we can turn all these savings into more colorful shades of doing. more saving. more doing. that's the power of the home depot. we've made a special buy on off clip-on for just .88 each. and you have a heart attack. that's what happened to me. i'm on an aspirin regimen now. my doctor told me it's the easiest preventative thing you can do. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. see your doctor

and that is something about ken feinberg the pay czar.doesn't like to be called czar. which was fine. we called him mr. feinberg. think about that. all right. when we come backstop running, start eating. the real skinny on jogging that has the fit in aan snit and me in the fridge. >> neil: all right, i'm not saying fat is where it's at but that does not mean he who runs has tighter buns either. there is a study out today confirms that what i long feared. all you joggers are running in circles, it ain't helping you much at all. which is a fit jennifer agilarti had to hear to have the if it and get her jogging to the studio. don't you dare! jennifer is a trainer on exercise tv. she is so fit it will scare you. a study, one out of five those exercising like thieves got nada from it. >> it don't know what to say. it makes me angry. it's another excuse for particularly americans to sit on the couch and not do anything. see, it's not going to help me. why should i exercise. >> you're sure sitting on the couch isn't exercise. >> thumbs don't cou

charles: ken feinberg happeagreg to lift the restrictions for afg executives after they threatened to quit. is washington realizing that clamping down is making it tougher for companies to create jobs? you think it is a bad thing that feinberg is allowing this one executive to receive this bonus. >> it is a bad idea. the optics of it, when you have 10% unemployment, the company has received $180 billion, is putting a sour taste in people's mouth. you're supposed to capet, and now you will make an exception. it is not a smart thing to do. charles: what about the idea of the free market's being the free markets? >> i think it is a great idea. i also like the idea of corporations and not being bailed out by taxpayers. aig would not exist if it was not for a taxpayer bailout. now to turn around and say, well, we also will give them $180 billion and give the executives that created this mess a forward $50,000 base salary and a $4.2 million compensation package -- they love that bailout package. charles: no one disputes that. but aig, a giant company with all of these tentacles, we would li

feinberg, kenneth feinberg, thank you so much for joining us. >> thank you. >> major: thank you for the update and thank you for spending part of your 4th of july with us. happy 4th of july to you, sir. >> thank you. >> major: up next, the president campaign style bashes the republicans for, well, just about everything. we'll hear from the top republican senator and his reaction right after this break. >> major: president obama as >> major: president obama as he sometimes does took it to republicans this week every immigration and unemployment computation to name just two issues. for republican reaction, we turn to senator jim demint who joins us from his home state of south carolina. welcome. happy 4th of july. thank you for joining us on "fox news sunday." >> well, major, it's not america's birthday, my daughter ginger was born on the fourth so i want to wish her a happy birthday today. >> major: happy birthday to ginger. senator demint, your republican party national chairman michael steele said something in connecticut. i'd like you to listen to it first and then i'll get your evalu

feinberg and a three-person review panel, it can be done in a expedited manner. if not happy they retain their legal rights. bp can only seek an appeal of mr. phoneberg's determination if it's in excess of $500,000 or feinberg certificates it as allow able. >> why 20 billion-dollar? is that the figure the white house thinks is enough? >> it's not a floor or ceiling. we want to make sure there are adequate resources for people to know their claims will be met. the states and local governments may have claims so we wanted to start a fund adequate to meet those expectations. >> this does not limit or cap the economic damages that bp may be responsible for. >> or natural resource damages. >> or natural resource damages. it's not a floor or cap and is not limited in their responsibility. >> we didn't hear outside. did the president have anything specifically to say to mr. hayward? >> the president spent 20 or so minutes at the very beginning of these meetings for several -- for several hours our group discussed the details of the framework agreement and the president

now it appears ken feinberg may be changing rules mid game.hael says this is proof everybody is a target. mike? >> david, as the obama administration has forced more and more people and companies onto its plantation, it's exerted greater and greater influence in terms of how much money people and how much money companies can earn and how they can spend that money. we have already seen this in the past where it was prohibiting companies, for instance, that received some tarp money from spending money on sporting events. you're also effecting those sporting events, whether it be golf, baseball, whatever. that has a big effect on even companies and businesses who have not received bailout money. this is a huge, huge problem. david: quentin, should everybody be afraid? >> well, people got pushed onto the government's plantation, particularly wall street where we're talking about these big pay packages, during the bush administration. and you know something? it was probably a good thing because they had destroyed the world economy with their shenan

and made available for round robin interviews the executive pay czar ken feinberg. the administration specified that all members of the pool were welcome except fox news. the washington bureau chiefs of the five tv news networks consulted and decided none of them would interview feinberg unless fox was included and the administration relented making them available to all five >> i think it's outrageous that the white house tried that number one. that's my first reaction. of my second reaction is i'm really cheered by the other members saying no. if fox can't be part of it, we won't be part of it. what it's really about to me is the executive branch of the government trying to tell the press how it should behave. i mean, this democracy, we know. this only works with a free and unfettered press to provide information. >> asked earlier this week if the obama administration wants to see fox news kicked out of the white house pool, press secretary robert gibbs said he would not delineate for the news media a decision that belonged to them adding, quote, that's not my job

. >> that's true and i think ken feinberg was aware of that. >> he's the pay czar. >> the pay czar and he did try to say, look, we have to try to keep the good human capital on the companies if they want them back on their feet. there's no way he would satisfy everybody. >> impossible job. >> i think what's more troubling here, lis the fact that, for example, goldman sachs part of the bailout money that paid it back, completely gets off the hook. they don't have-- they don't fall under any of the compensation limits that ken feinberg. >> well, they're still-- they don't fall under feinbergs, but would presumably fall under the fed's guidelines because they're now a deposit taking institution. >> right, but let's go back to when they took the tarp money. they claim now, well, we didn't really need it and there are lots of people who are around the table say we were forced, but this brings up another subject, which is that why was there such a lack of transparency there? why was it a closed door session where hank paulson decided, whatever he decided and now everybody has their own versi

feinberg says he cut the executives cash salaries by a third for this year. most of them to less than $500,000 each. he said he cut their overall compensation, including stock bonuses by 15%. but 69 executives could still take home paychecks of more than a million dollars for this year. feinberg said that's okay, as long as they do a good job and earn it, unlike some executives during the financial crisis who walked away with millions after they ran their companies into the ground. >> when you say that you add the stock to the cash and you are over a million dollars, that stock has to be held for two, three, four years. the stock value today may give somebody over a million dollars. let's see how well the company performs, how well that individual performs if the company performs and the stock is valued, it may be well more than a million dollars. and as required by legislation from congress, feinberg also announced he is reviewing earlier compensation for executives at more than 400 banks that got bailout money, even if the banks repaid it. the ultimate goal

in fact, i think we ought to establish the annual feinberg award for a federal official who displayed uncommon modesty in doing the people's business. >> that will be a one-year prize. >> naomi. >> a hit to the disney company that decide today give refunds to parents who purchased the baby einstein videos and suppose today turn your kids into geniuses having your children watch mozart and shapes across the screen and turns out that it didn't work and so, you know, they're nicely kind of giving a refund. of course, turps out the average television watching for two to five year olds came out this week was for 32 hours a week which i thought was-- so, who knows what baby einstein will do. >> jason. >> a hit for turner schools, a new study by manhattan institute finds the turner school benefit even those kids that don't attend them because they've put competitive pressure on surrounding public schools to improve. and works on public education after all and opponents of school choice are running out of excuses, paul. >> to keep spreading-- to stop the spread of charter schools. dan, the pr

feinberg stopped short of that. given there's nothing legally action able, nothing will come of it. >> pandit was at the signing of the financial regular bill. if i'm obama, i would pick up the phone and say give the money back. >> i think what washington's going to focus on is trying to say what can we do to protect ourselves in the event that we get another kind of financial collapse. and it's a legit risk. look at the way the guys of compensated today, the pay packages, incent short term, risky bets. >> gregg: the banks say they were signed compensation packages. i've never seen a contract that can't be breached. does it go beyond the mere banking industry? >> yes, it does. there are financial if i did like american express that's not a conventional bank. there were other companies like gm's finance arm that received a bailout. but the question of executive compensation goes across all industries. right now shareholders continue to come in second place when it comes to a contest between how much management is pai

here's more from ken feinberg. >> should you litigate? absolutely not. it's a mistake. it's a mistake to litigate. but that's your choice. >> feinberg says the biggest challenges are determining the damages since the oil is still flowing. also, try to figure out how bad things will be down the road because some people have no idea how badly their businesses are lives will be affected but they may have to come up with a figure to present to this independent overseer to get paid. >> rick, in louisiana, thank you. some of the others headlines, officials in florida reopened the beach in pensacola after they closed part of it yesterday when oil washed ashore. earl other shoreline areas in the florida panhandle of offlimits. the white house reports vice president biden will travel to the gulf coast to review efforts, arriving on tuesday. after reporting its spent more than $2.3 billion on the spill, bp's stock sank today. shares selling for less than half than before the caster. >> president obama's in canada today for meetings with the leaders of the world's biggest economie

. >> reporter: kenneth feinberg is the man with the money, $20 billion fund. on "fox news sunday" he offered reassuring message. >> my job is to serve the people of alabama, mississippi, florida, louisiana, texas, to try and maximize the dollars. that i can get to the jurisdiction. >> reporter: b.p. announced the cost of the spill passed the $300 billion mark, money to contain the oil, drilling relief wells and paying claims to those effected to grants to the state for their effort. but tens of thousands of other claims will be coming and it's not always clear who deserves compensation and who does not. >> you have to look at each and every case. >> some claims are obvious like commercial fishermen who can't fish and seafood wholesalers, some have gone out of business. but "fox news sunday" the discussion turned to areas of those where damage from the spill is not so obvious. >> for those who don't have oil near them, can they be compensated? >> sure they can be compensated. >> reporter: can be compensated but feinberg has to decide who will be and cannot and

yesterday, all the news outlets wanted to interview the new pay czar, kenneth feinberg, so the obamadministration tried to make him available for interviews. every member of the white house pool except for one. you see, the press pool is a five-network rotation. it shares all the costs and duties and daily cost of the presidency, which can be a little pricey. they have been doing it for decades and the rules are clear. we're all in or all out. but the the washington bureau chief of the five t.v. networks with when the white house said yeah, but not fox news, they're not really news, they consulted and decided that none of the reporters from any of the networks would interview feinberg unless fox news was included. what? the administration backed down. that was the media being a real watchdog. putting aside any biased on what to do, what is right. it reminds me of walter cronkite. do you remember walter cronkite? i grew up watching walter cronkite. i think all of america loved him. what i loved, not at the time, but what i grew to love afterwards is i had no idea the guy was a one-wor

feinberg made clear that they too are eligible for compensation. jon? >> jon: jim angle.nks, jim. the people of poland electing a new president after former leader died in a plane crash. our top story as we go around the world in 80 seconds. poland. winning the presidential vote by a narrow margin. his main competition was from the identical twin brother of the late president. a plane cash back in april killed that politician and nearly 100 other people. china, troops holding joint military exercises with soldiers from neighboring pakistan. it is the third such drill between the two countries. according to state-run media there, a chinese commander says the exercises in the northwest were important in the fight against terror. india. [shouting] >> jon: demonstrators confronting police during a nationwide strike during the country's main opposition country party. they say they are upset about increased fuel prices. some of the protesters lying down in the street to block traffic. the government indicates it raised fuel prices to make up for losses at state run oil company

ken feinberg told congress that state law will apply. law says if you don't have oil on your beach, you don't get compensated. really? well, we're going to try to sort all that out. >> dave: another thing we don't have time to get into but i know is going to come up on the show because you have bill kristol from the "weekly standard" who called for michael steele to resign, the rnc chair, after his comments about the war in afghanistan. that's what people should look forward to as well on "fox news sunday." you also have joe lieberman on afghanistan. so michael steele may come up, i'm thinking. >> alisyn: you may want to extend the show an extra hour. >> that's okay with me. >> clayton: do a three hour show. we will tune it in. >> i have my anchorman ready go three if, four, six hours. whatever he needs. >> dave: ron burgundy, good to have you here. >> i'm kind of a big deal. >> alisyn: that one never gets olds for me. >> dave: he has got a lot of anchor man. a lot of lines actually. >> clayton: coming up on the show, i was going to say

kenneth feinberg answered that as well. >> about 130 million has been paid out.fund that is being set up as we speak. that will be used to pay claims and -- >> that's not been paid down in any way? >> that's correct. >> dave: so the 130 million paid so far, the $20 billion is off limits. >> clayton: that's good news 'cause it's untouched. >> you mentioned the person that is having trouble selling their house. i wonder if they'll be able to make a claim down the road. >> dave: they're going to try. >> clayton: why not? you'd be buying a pristine beach, here is a house on pensacola beach, beautiful beach, now covered in oil. to me, that sounds like a claim. but again, i'm not a lawyer. >> everyone is having trouble selling their condos. >> exactly. >> here are your headlines. new video just into our news room from baghdad. vice president joe biden talks of the future of iraq with iraq's president. he also met with the chairman of the islamic supreme council. yesterday he made a pitch for iraqis to set aside their differences and form a government. and there was als

he is ken feinberg, the administrator of bp's 20 billion-dollar disaster fund. so far he has gotten more than 450,000 claims. four times what he says he originally expected. he says he has paid 125,000 of them for a total of more than $2 billion. last week, alabama's governor, bob reilly accused feinberg of extortion for forcing victims to give up their right to sue in exchange for the money. feinberg tells the fox business network there is another option. >> there are two choices open to any claimant. take a lump sum payment from the fund and release your right to sue, or don't take a lump sum payment. take a quarterly payment, document your damage, and you don't have to release anybody. >> shepard: up to you. yesterday, the deadline for emergency claims but ken feinberg says the other two options are available for the next three years. president obama weighing in now on some potential competition in the next election. so what does he think of the former governor sarah palin as a possible challenger? we'll hear from him just ahead. plus, it is the season's hott

and there was a trader there who has been squeezed out by feinberg, effectively. he got $100 million payout. $100 million. the guy's name is andrew hall, after the bailout. $100 million of our money? maybe. >> look, i don't know enough about the bankingzy to know how these bonuses are actually handed out. >> you know, free check being and christmas club. >> and layaway plan. when you don't have the money you go back to the store and make small payments. that doesn't apply here. >> this is big payments. >> do you have a problem with kenny feinberg, who is again working in the gulf and taking 911 families and deciding how much their lives are worth, and going into the banking business and telling people you got paid too much? and 11 of those 17 banks, they have already paid back the money with interest, so ken next feinberg is going to offer the names and companies and try to humiliate them ask probably will by listing them, but in turn can't enforce anything. he will push the boards to be ahead and say next time this happens in the future where maybe your company i

>> i should tell you ken feinberg is a friend for 35 years.ed to get and i recommended him to attorney general ashcroft for the prior job in dealing with the 9/11 claims. if you have to do this, i'm not sure this is the right way but if you have to do this, they couldn't have picked a better person. >> he's the guy to make a fair, orderly -- >> absolutely. he'll do this in a fairway. he's done it many times. he'll do it where objectivity and he had to res the through horrendous problems september 11. it took a while. the idea of doing it ex pedestrian expeditiously might be overpromising. >> he made controversial calls as you know, you award differently the family of a fallen fighter than you would the family of a fallen canter fitzgerald and he had different formulas. if he were to do the same in the gulf -- >> there's no question there will be controversy. he'll handle it. >> what you do you make of time is of the essence. >> it is but the reality is it will get complex and take longer than people anticipate but it was a good appointment, th

feinberg, the pay czar, but fox news, we don't like what you have been doing in your news programmingr opinion programming. you can't come along. >> because the network pool was involved and fox is a member, the other networks questioned the move. >> the white house specifically sought to exclude fox. they were ultimately unsuccessful because of the intervention reportedly of other media. but they didn't want to let fox in. >> today, white house spokesman jay carney tried to put it all in the past. >> that was then, and, you know, we obviously deal with fox news regularly. call you regularly and we give interviews to fox news, including bill o'reilly. >> fox did get the interview with feinberg after all. the senior vice president for news for fox today said on and off-air relations with the administration has come a long way since then and if the unfortunate ens dept got things -- incident got things on a better track, then it served its purpose in washington, jim angle, fox news. >> former first lady betty ford will be laid to rest shortly in grand rapids, michigan. this morning a st

>> all right, feinberg, first of all, only -- only purview is over the financial services companies thate has been asked -- received government bailout money and gm and second of all, for better or worse we have the tax code and the tax code for a long time said the companies -- to companies if you pay executives more than a million dollars you have a different tax treatment for cash compensation, which is what he addressed and we have a tax code, if you want to get rid of it, we don't have to have any conversations like this. i -- >> we don't want to make success a four-letter word and punish what is at the basis of america's greatness, adam. >> nobody is saying that, he -- >> it feels like that. >> adam is saying that. adam is saying that. >> i'm not saying that, either! >> just kidding. >> i want to make as much money as you let me. >> you guys all make a lot of money. >> he talks about, oh, it is just ken feinberg and banks but be careful, there are a lot of businesses that do business with the federal govern and more power you put in those folks' hands -- >> let's fix it for our aud

if ken feinberg makes an award, b.p. simply must pay, it's only appealable if it's in excess of $500,000 and then it goes to a three member panel. basically, ken feinberg's words, it's nearly final. it will speed up the claims processes for individuals and businesses hurting right now. >> the controversial b.p. c.e.o. tony hayward reportedly plans to tell congress he is personally devastated by the oil spill. he's said a lot thus far. the associated press has obtained a copy of tony hayward's prepared statement ahead of his appearance at a congressional hearing tomorrow. in that testimony, tony hayward is to discuss april's explosion and oil rig sinking saying they never should have happened. and that he is deeply sorry that they did. and he adds, my sadness has only grown as the disaster continues. tomorrow's showdown should be pretty action packed given hayward history of making comments about how he wants his life back and how he expects this disaster, the environmental impact to be modest. in the words of a committee

has said. >> ken feinberg's decisions on these 7 companies come to 139 high-paid executives at these companies. he will still rule on another 500 executives of these companies. the fed rule will cover nearly 6,000 banks and a lot of their top employees. however, the fed did single out 28 large institutions for special scute ny. bret: how does this compare to what france and germany, european countries are doing? >> well, they are -- the french and the germans and other europeans have been leaning towards more strict benchmark compensation rules, for example, that 60% of total compensation, up to 60% should be long-term stock for bonuses. they're looking at possible pay caps on bonuses. the fed did not go that far in its bank rules here. it is basically -- it's not trying to cap anybody's salaries or anything, but it is trying to make sure that the salaries are structured so that the risks mack matches up to the reward long term, that any short-term bets don't put a lot of money into somebody's pockets and they can walk out the door and later on, those bets turn sour and come back to

when ryan and his companions ordered another bottle susan feinberg was horrified. she thought the amount for the wine totaled more than a couple making minimum wage. at rutgers they approached the table and asked ryan, how could he live with himself siping expensive vee know while advocate -- vino while advocating cuts to programs for seniors and the poor? a heated exchange ensued and one of the other two men said he bought the wine. when feinberg asked if they were lobbyists one said "f-her." and now we go to lazy cat. that's some fine reporting. not sure if that is real, but i love it nonetheless. joe? >>> love the program. love the purple shirt. what would you do if somebody came to your table and discussed what you were eating and drinking even if it were for in their minds a noble cause? what if somebody from amnesty international came to your table and said -- >> that often happens. my uh flew wednesday is -- of a flew wednesday is well known in the city. i am often criticized. this is one of the stories -- i don't know. is it really that hipocritical? you ca

kenneth feinberg now limiting the pay competition for middle lovell executives. what is the news today on what the pay czar is doing with the pay of these companies? >> these companies got help from the government to keep from going down the drain. now 450 employees of those four firms will have their salaries capped at $500,000. they will still be able to get bonuses in the form of stock, but the feeling is, from feinberg, is that he feels like their success should be tied to the long-term success of the company, and that is why he is doing it. there is some criticism because there are folks who say if we want these companies to pay back the government, then we want to make sure that they keep their best and brightest to dig themselves out of this hole that they have gotten themselves into. i should note, peter burns did an interview with him and we should be getting the interview in about half an hour. juliet: the president is meantime back from picking up his nobel prize. he will be shifting much of his attention to the banks. what can we expect? >> we can exp

feinberg brought with him 20 claims adjustors that quickly deplete about half that auditorium. he also promised three things. three problems will soon fix. the speed, the generosity and the transparency. then he made this promise to a very skeptical crowd, every legitimate claim, at least here in alabama, will be paid in, quote, a few days. shep? >> shepard: phil keating live in orange beach, alabama tonight. thank you. the american woman who spent more than a year in an iranian prison is keeping a pretty low profile on the first full day of predom in oman. sarah shourd expected to undergo medical exam today. her family reports she had a health problems including a lump in one of her breasts. sarah shourd's attorney says a foreign individual and not a government paid her half-million-dollar bail. iran accused her and her fiancee and their friend of spying as they hiked along the border last year, we're told. the two others are said to be still in prison. iran is intimidating the united nations inspectors who are supposed to be looking into its nuclear program. that's the latest

kenneth feinberg told the treasury department officials. the president did not have to sign off on this. he will talk to reporters about this later this afternoon. bill: did the executives know this was coming? >> people i have talked to say there should be no surprise and that kenneth feinberg has been talking to them all along. as long as you have taken the money and not repaid it, the bottom line is the compensation is going to change. some of the financial firms that did get the bailout funds that have repaid their loans are not subject to these rules. bill: you can go back 10 years and pull up articles on the pressure during the clinton years on fannie mae and freddie mac. is there much focus on that side washington now? >> in terms of making sure that the loans are only given to people who can pay them back? bill: commerce and politicians are putting pressure on these companies. you could say this led to the fallout we have experienced. >> you have heard from the obama administration in recent days frustration because they feel like s

angry victims giving claims czar ken feinberg a piece of their mind. phil keating is there. that looks like a packed house behind you. what is the civility level in orange beach. feinberg is not known for silk gloves in dealing with folks. >> reporter: he has not arrived yet, however the mayor of orange beach, alabama did a great job in the first hour, he's been answering questions, organizing this meeting with mr. feinberg to keep it civil, don't be yelling and screaming, we don't want to give orange beach, alabama an a bad impression. those are the words of the mayor. most of the people here depend on the tourism industry and the gulf of mexico and they have not been paid since july. many of them i spoke with personally said when bp was in charge of paying the claims they at least got some checks. that was back in june. since the gulf coast claims has taken over they say in july, august into september it's been very difficult to get any money, and of course many of them are really depleting their savings. megyn: as of friday, after the first three weeks of when this new cl

in fact, i think we ought to establish the annual feinberg award for a federal official who displayeduncommon modesty in doing the people's business. >> that will be a one-year prize. >> naomi. >> a hit to the disney company that decide today give refunds to parents who purchased the baby einstein videos and suppose today turn your kids into geniuses having your children watch mozart and shapes across the screen and turns out that it didn't work and so, you know, they're nicely kind of giving a refund. of course, turps out the average television watching for two to five year olds came out this week was for 32 hours a week which i thought was-- so, who knows what baby einstein will do. >> jason. >> a hit for turner schools, a new study by manhattan institute finds the turner school benefit even those kids that don't attend them because they've put competitive pressure on surrounding public schools to improve. and works on public education after all and opponents of school choice are running out of excuses, paul. >> to keep spreading-- to stop the spread of charter schools. dan, the pro

and move on but then we go type deep recession and what you are seeing is this white house, ken feinberg and treasury and now seeing elements up on the hill, and we need to put in place protections for american consumers. whether the consumer protection, or a -- limits against the derivative trading we saw go overboard, recently. >> chris: i want to talk about the brain drain, though, bill, because steve pearlstein the pulitzer prize winning economics writer for the "washington post" made an interesting point and said, let's say cutting back on the salaries drives the risk takers away from the big banks and into smaller companies like hedge funds. he said maybe that is not so bad because in the if they take a risk and it goes bad they are bringing down a company the government will not have to bail out. >> they are taking risk with their own investors money and the irony is they came up with -- everyone is concerned about hedge funds bringing down the economy and the regulated banks brought down the economy where people gambling with investors' money, government insured money and as it t

and, along with ken feinberg who i mentioned who is in the live shot on the left-hand side of your screenen joyce us now, live in washington to keep an eye on all of this, what is happenings down there, james. >> martha, a lot on capitol hill, right now, as you see, those were two of the four hearings that we're monitoring for you right now, let's take you to ken feinberg, testifying before the house small business committee on the left side of your screen. mr. feinberg is the administrator of something called "the bp deep water horizon disaster victim compensation fund." he made' point of reminding the lawmakers who were questioning them in there, that it's an independent entity and he doesn't work for the government or bp, he said his goal is to get the money out the door, and he said that governor haley barbour of mississippi told him time is the enemy and he agrees in paying out the $20 billion that has been established in escrow for the fund, feinberg promised to go back to the gulf, at least once a week, to visit with the affected individuals down there and in fact he was down there

kenneth feinberg sat down with major garrett sitting in for chris wallace. you talked to kenneth feinberg and there is a need to get the money flowing for those in tough economic times. is he prepared to move quickly on this? s>> he said he will move quickly and provide the smaller payments that b.p. put out but larger payments, six months and get them out rapidly. i asked who do you work for? do you work for the president who appointed you or b.p. who pays you? he said i'm independent and i work for the people of the gulf. i asked him when he testified before congress. say you don't have tourist traffic but there is no oil on the beach. can you put in a claim? he said yes. you can file a claim and i'll pay a claim. >> brian: he has a good reputation. a reputation for integrity. >> dianne feinstein -- kenneth feinberg has been filing disputes going back to agent orange. he did 9/11 fund and the he did the fund for the virginia tech gun massacre and now he is handed this task and he said it's enormous. he said you can't do the job from washington and he will

did kenneth feinberg get this cleared by the president? reputation as being an independent person, they did not wanted to look like he had any political connection in making this decision. aig, bank of america, citigroup, gmac, chrysler, chrysler financial, these of the points that the white house is making, these people have jobs and the government took great pains to bail them out. in essence they are saying that without the help of the government they would not exist. they are saying to lower your salary and if deferred compensation and be thankful. trace: is there any concern of brain drain? compensation being restricted? >> we talked about that with robert gibbs a few minutes ago, he did not buy it. he said there was not much sympathy for executives around the country making large compensation. that there will not be much sympathy for these executives. here's more from robert gibbs. >> as you have for the president say, he has no desire to run banks or car companies. he does not want to pay for banks and car companies. he believes tha

>> the amount of money that ken feinberg's office has dolled out and it's about $3.5 billion at thishe says he is not satisfied with the way things are going because he is hearing personally and we heard a lot of complaints about the process. shep, is he encouraging people, urging them, saying if you don't think you are getting the correct amount of money from this compensation fund, don't opt for a final settlement. go for an interim settlement. hangs in through the process and see what happens. >> shepard: i remember when the hurricane hit and waited and fought it later they all lost. i'm sure a lot of people arancey. >> you have to remember that ken feinberg's goal is to keep people out of court. take that for what it means. >> shepard: go visit orange beach and the mississippi coach. it's beautiful. >> sand beaches are better than i have ever seen them. when they sifted all the oil out. they also got out the cigarette butts, the plastic cups, the bottle caps all of a sudden of that the beaches are in great shape. >> shepard: great to hear i can't wait to see them. a high speed ch

there were exceptions made to about 12 employees, so clearly feinberg is concerned about some people leaving, so he did make 12 exceptions of the forward 50 or so today. shepard: a new report warns about more jobs in cost under the senate health care proposals. keep in mind that they are just proposals. the senate still does not have a final plan. jim is in the newsroom now. tell us about the estimate of the cost of the proposal. i guess this is new, right? >> new today. republicans requested an analysis from the chief actuary at medicare, an independent analyst, but also the chief guy in the government who advises people on the cost of things. democrats have been arguing that their bill would reduce cost as a whole, but this guy, the chief actuary, says that manufacturers will go up under the senate bill, bending the cost curve up, not down. >> we have representation is that the purpose of the reform was to decrease, to move down the cost. now we find that this bill, as scored by actuaries, significantly increases national expenditures. >> the report says overall spending has increa

absolutely. >> feinberg also says he has gotten these a.i.g.mployees to voluntarily agree to forego or refund about $40 million from these old employment contracts, shep. >> shepard: peter barnes from fox business live at their business desk in washington tonight. peter, thank you. there is new concern tonight the united states government may have made promises it simply cannot afford to keep, especially when it comes to medicare. tonight, why your taxes may not be enough to cover the program, as fox reports on the nation's debt. new developments in the battle against sudden infant death syndrome. researchers now say they might know what causes it. their new findings are coming up next. (announcer) some people don't just work. they work to make a difference. to make an impact. to improve the lives of others. they're people in positions of great power. the power to effect change. for them, career advancement is a goal. but not the only goal. for them, it's not about the money. although money is always nice. it's not about a corner office. it's a

he is kenneth feinberg, the so-called pay czar. he has the final say of what is fair and what is not. he may well decide that some of these employees are wren titled to big paydays. the white house seems to be ok with that, to a point. >> i don't think the american people begrudge that people make big salaries, as long as they're not jeopardizing the goodwill of the public in doing so. >> for companies struggling to rebuild with the government as its partner, finding that middle ground is not easy. the solution, feinberg will look for options that pay off big if the companies do well in the future. >> you want compensation that is adequate to reward talent for long-term performance. you don't want it to encourage short-term risk. >> the 7 companies in question are not providing details about their compensation proposals for fear of raising hackles on capitol hill. already speaker of the house nancy pelosi an barney frank, the powerful chairman of the financial house services committee are sending warnings that the compensation bett

we'll have an update on the spill and ask kenneth feinberg a man in charge of the $20 billion bp compensationund who will be paid, how much and when. plus, president obama slaps republicans for blocking unemployment compensation, immigration and wall street reform and what is the g.o.p. response? we'll find out from south carolina senator jim demint. and, our sunday group, a double dip recession is in our future, what it could mean for the president's agenda, all right now on a fourth of july edition of fox news sunday. and hello, again from fox news in washington. as we celebrate our independence day we are following two stories, that huge oil spill in the gulf, which is having a terrible impact on the holiday weekend and more soon and the war in afghanistan. general petraeus, the new commander is in kabul and for the latest we turn to fox news correspondent connor powell. >> reporter: general petraeus officially took command of all u.s. and nato troops during a change of command ceremony in kabul this morning, it has been a tumultuous few weeks since the dismissal of general stanley mcchrys

kenneth feinberg the man running the bp's claims fund, while in alabama, feinberg told reporters i have a concern that bp is stalling claims. yes, bp is stalling, i doubt they are stalling for money. it's not that. i just don't think there may be answers to questions by the claimants. he accused bp of stalling payments. they were set up in june after pressure from president obama. >> hillary clinton promising firm solidarity as tensions increase in north korea. it follows a diplomatic mission. she indicates that the missions will go on. north korea leaders vow to wage, quote a sacred war. malini wilkes has more from washington. >> in a greatest outburst against the u.s. they pledged a nuclear response to joint south korean-u.s. military drills. they threatened war before the joint exercises like this one back in march. tomorrow begins a four day display of u.s. and south korean solidarity with ships, troops and fighter ships. they respond order tv. >> the army and people of north korea will counter with their powerful nuclear deterrence the largest ever nuclear war exercises to be stage