feinberg looks and listens.sly moving target, he takes hits at meeting after meeting, makes his pitch and moves on... if it's tuesday, it must be wherever. >> feinberg: where did i start yesterday? from new orleans, right? up to alabama, yeah. >> safer: we joined him at the crack of dawn, where he was calmly preparing for another day of personal abuse. >> feinberg: with all due respect, 5,000 people have got checks. that's not enough... >> 5,000 out of 20,000 claims sucks. that's not very good. >> it's been ten days now. can we take whoever programmed this, take him down in the swamp, drop him off for ten days, and let them wait on us to go pick them up to see how it feels to keep waiting? >> feinberg: i don't think you should keep waiting. i told you you wouldn't have to keep waiting. i can't speak... >> it's a contradiction of your words, sir. >> feinberg: i know. there... there may be. it won't be the first time. i'm trying. >> safer: feinberg acknowledges he is dealing with a weary and frustrated population

why am i thinking feinberg is in too much of a rush.nd when ken was overseeing the $20 billion bp oil disaster fund and many failed. claire writes, how convenient of you to leave out his compensation arrangement with gm. how convenient of you to not know that i did try. he made clear it's similar to bp services and how firm was paid. i think a few million bucks, a fraction of the $20 billion plus bp fund to which he was in charge. what would mr. feinberg due if gm was toyota? band from the usa. nobody died with the toyota bs. in fact, people did die in the toyota case that you mentioned. at least 33 deaths were ultimately tied to gas pedal issues dating back to 2000. and talk about not length go, wayne in texas, i'm sorry, neil, every time i try to watch you, my thoughts harken back to seeing the way you bullied and disrespected michele bachmann. it turns my stomach, i considered you a bright, reasonable nice guy, you are probably bright, but reasonable and nice you are not. after ten years of watching you, i can't stand you anymore. by

the national arbiter was a tough-talking lawyer, kenneth feinberg. and matt gutman found out that there's trouble. feinberg is being sued today. >> eight months ago, the fishermen of the gulf had help. >> these payments will be made, >> come in, get a check. >> reporter: he vowed to fast track the reimbersment fund. so, how it is possible that only about 15% of the fund has paid out? the average final payment -- $12,000. no wonder shrimper darla rooks gave up her apartment. >> we're having to move in with our families. and borrow money from our families. and rely on our families. >> reporter: she moved in with her daughter. they sent you a check in september that was uncashable and you just got the real check that was cashable two days ago? >> two days ago. >> reporter: last summer, she pleaded with feinberg. >> i' >> what do i do? >> i'll tell you your choices. >> reporter: feinberg admitted to me he didn't have a grasp back then on how many and how complex the need would be. >> well, i just had. nobody could have anticipated, certainly i didn't, 50

you're going to hear what one ceo thinks about ken feinberg's plan. the ceo of one of -- it's number one or number two biggest companies in the united states. we'll be back. >>> because of the government's involvement in the companies, i think you just have to think about it as an anomaly and then it's a question of government policy. i'm not a policymaker. i know these are exceptional cases and exceptional times. >> part of that was microsoft ceo's steve ballmer to matt lauer this morning talking about the seven companies being targeted by the feinberg plan. what if extraordinary times become the norm and the feinberg plan is extended to call companies? here is robert, partner at jones day and mike, senior partner and host of ring of fire which airs on air america. good to have both of you with us. you heard steve ballmer there. saying the government has a stake in the seven banks that are under specific discussion here. they're extraordinary, put them over there, but i don't think that we should be having a say on pay for everybody else. he wasn't t

feinberg. let's bring in brian foley with me at the big board and eric dash is a reporter for "the new york times." and if you didn't get to read his piece today, please do. we'll show you a picture of it, though, because it throws a little bit of cold water on the theory of t.a.r.p. firms losing top executives due to cutbacks in pay. i ask that question of mary, brian, because it's interesting to me that we keep talking about pay for performance and now we're finding out what all of these guys are earning for 2010. we're only in march of 2010. we don't know how they are going to do the rest of the year. >> it's not a pay for performance model. it's a cash salary and stock salary, all of which is payable to you as long as you're still in place. strictly pulse pay. and you get that, regardless of actual performance, as long as you're still there. >> eric dash, a lot of people on wall street happy to lock in what they are getting from 2010 and who may be surprised that pay czar is actually lockin

feinberg's $40 million share landed in her family's bank account a few weeks ago. booz allen admitted no wrongdoing, saying in a statement that the company has always believed it acted lawfully and responsibly and noting that a criminal investigation was closed without charges. >> did they underestimate you? >> i wish they would have taken me and the issue more seriously while i was there. >> reporter: today $40 million richer feinberg says she plans to give much of it to her church >> i've got three kids ♪ i tell them doing the right thing is the right thing no matter what the outcome is. there's very few times in this life where you'll actually be rewarded for doing the right thing. but this is one of those unique situations >> reporter: ken dilanian, nbc news, washington >>> up next, as we continue tonight with tensions high between beijing and washington, is the giant panda in the middle >>> we're back now with a long good-bye at the national zoo. three giant pandas are set to head to china after captivating millions for decades in the backdrop the escalating t

and feinberg said he doesn't remember. you don't remember the name? >> i don't remember. >> reporter: $10 million check, i would certainly remember that. >> this was -- this was simply a request of bp and the claimant to pay out of the gccf the settlement. that's what we did. >> reporter: was there a review? >> no. >> reporter: even so, feinberg insists he's now going to change, and the bp money will soon be out the door. for darla rooks, it's not fast enough. >> it's a lost cause. it's too little too late now. >> reporter: matt gutman, abc news, miami. >>> and now, the personal drama unfolding on the mormon campus of brigham young university. it has everyone debating what is a fair promise, a rule, and what is a just punishment? and what about the student, the star on the red-hot byu basketball team? abc's abbie boudreau is in utah. >> reporter: at the strictly mormon brigham young university, all students must promise to adhere to a formal code of ethics that almost seems quaint in 2011. students pledge to not only "use clean language," "abstain fro

. >>> gm's fate is in feinberg's hands. top compensation expert kenneth feinberg puts no limits on total amount he can give to gm victims but is this a clever move to get the company back in shareholder's good graces? >> uber promises fast and free weddings to san francisco couples but not many actually got to say i do. more "money" coming up. ♪ melissa: general motors is ready to open its wallet. the automaker announcing compensation plans for victims of its faulty ignition switches and there there will be no limio the total amount to be awarded to victims. fox business's new cavuto speaks to gm fund manager ken feinberg tonight. here is a sneak-peek. >> purely voluntary. nobody has to come into this fund. secondly -- >> but if they do they can't go the other route? >> that's right. they don't have to make that decisions until they know exactly how their claim will be treated and how much money they will receive. melissa: here now, fox news senior judicial analyst, judge andrew napolitano. so he says there is no limit. >>

feinberg is being very trans parent.you take care of the people who can't pay for the bills right now. he understands that lawyers should not be involved in this, that lawyers don't need to be involved if the fund runs correctly. a fisherman should be able to go there without a lawyer and make a claim without a lawyer. now, the obanly time that will change is in the lawyers in the judicial process finds that that doesn't work. feinberg has a good history. that's the good news. on 9/11 he got a slow start, claims were a little cold. by the time it was over, he came away being well respected and having done a good job. but i have to tell you this, this point that you raise about something -- the glitch, the biggest glitch is that bp should have no involvement in this fund. >> i want to ask you about that. that's what i want to know. who actually is controlling the fund and does bp have any call on where the money goes at all? >> we were assured yesterday, and i'm convinced that they do -- that rosen and feinberg have contr

, has not made things better. >> so we're very upset with the overall performance of ken feinberg. >> reporter: in an interview, feinberg acknowledges problems. >> we haven't processed all of the claims as quickly as we should have. i oversold this program at the beginning and i'm paying the price for it. i do not work for bp. >> reporter: he's been the target of anger and frustration at recent town hall meetings. we went back to two businesses we've kept up with. jeff hardy owns a shoe and apparel business and says his losses are now more than a million dollars. he's received one check for $5,000. these twin sisters who plan weddings on the beach have received $29,000 on a claim of $240,000. >> we feel like we deserve what we lost and that's what we're asking for, give us what we lost. >> reporter: do you understand how angry and desperate some of these people are when you send them these tiny checks? >> i understand the frustration. i understand the concern. remember, though, that there are thousands of citizens in the gulf who received very very generous checks. >> reporter: his of

feinberg. he has experience in this arena, having disbursed funds as a result of the 9/11 incident. it is my understanding that he will be taking control of 36 bp offices and hundreds of employees. mr. feinberg is charged with administering the $20 billion gulf claims account and paying legitimate claims to affected parties. it is an admirable and difficult position, because we know that paying claims in this kind of situation is certainly an inexact science. we -- will downstream suppliers due to the tourism industry qualify for compensation? there are a lot of unanswered questions. we want to see that people are reimbursed who have legitimate claims. and we hope there will be some -- we know there'll be some filing claims that will not be legitimate. one other question that i think will have to be answered as we go along is the drilling moratorium imposed by the administration. it will have an impact on the economy and the terrorism as a result of this bill. there is going to have to be some

and andrew feinberg got it right today, as he has in the past, which is why andrew feinberg will be joining us on this program tonight. when donald trump made the mistake of calling on andrew feinberg for the first question of the press conference, he heard the best questions asked by a white house reporter this year. thank you, mr. president. >> earlier today, you told me that you believe that. foreign countries. pay tariffs, but. americans who are concerned about higher prices believe, as most people do, that they're paid by consumers and importers when they import things into this country. can you explain how you came to this belief that foreign governments are paying tariffs? and for the prime minister, did you discuss with president trump his repeated statements of desire to annex canada? and has the king expressed any concern over the president's apparent desire to remove one of his realms from his control? >> wow, it doesn't get better than that. both of those questions were perfect. and yes, sadly, canada is part of the realm of the king of england, who unfortunately still appears o

one feinberg unveils the plan in d.c. and answers questions of how much victims will get and how much more will the company.ost gm already asserted faulty ignition switches to 57 crashes, 13 deaths, $680 million in and rentals for customers. it agreed last month to pay a record $35 million fine and a probe into how the company handle the recall. piece ofust the latest the puzzle for gm. the cost is put at $3 billion for how much we will eventually .ave two pay up >> what about more than 100 losses against the company? >> the idea is to settle all of those. today's announcement, a voluntary plan, and they will have to give up their right to gm to reject the deal that reaches too few victims or makes inadequate settlement offers and those victims can pursue those claims. feinberg has become quite the expert at putting the price on tragedy and is known for persuading people to settle rather than sue. only 94 people out of 3000 eventually went to court in the 9/11 case. >> the victims should feel good that can feinberg is beh

feinberg it will be available on cnbc.com. maria, back to you. >> mary, thanks so much. mary thompson. great stuff there. >>> just ahead three nasdaq stocks poised to move up. deeming numbers of which names could be a good bet for your portfolio.  >>> take a look at the business headlines at this hour. the dow closes with a gain of 6/10 of a percent today with the help of strong retail sales in november which set the tone in the market early on. despite a two-month high for the dollar. senate majority leader harry reid saying that china's policy has been destroying the world economy for too many years. in the letter to the president of china he calls for a significant reevaluation of the occurrence nechina. >>> lawyer for former enron ceo jeffrey skilling filed a brief to the supreme court ahead of oral arguments next week. making it illegal for executives to deprive shareholders of their honest services. >>> well today markss one-year anniversary of the arrest of convicted ponzi schemer bernie madoff in which what has been dubbed the skachlt centur

to, he is well known for how compensate victims. -- kenneth feinberg feinberg on how to compensate victims of flynn's water crisis. ♪ ♪ betty: good afternoon and welcome back to bloomberg markets. let's check in on where the markets are trading right now. first, a look at the s&p. andou know, it financials materials have been big gainers. are here towards the closing bell. also take a look at the dow, where jpmorgan, and other financials are powering the index higher. over 300 points. is gainingaq, it 1.6%. lots of focus on the tech shares. now, we look at the biggest business stories in the news. it is way too early to be discussing negative interest rates, according to new york senate president who says bringing down borrowing costs below zero is a conversation that his extraordinarily premature. concerns of a global economic outlook have hammered in the recent weeks. john paulson is diving back into troubled debt. the hedge fund manager is seeking to raise 1.5 billion dollars for a private equity fund that will invest in companies going to through bankruptcy and restructuring. less liqu

feinberg going to effect that guys bonus? >> not the effect it will effect mr. feinberg. one of things i think is of concern is the fact that sometimes parts of a company make money. parts of aig made lots of money in the last two years. parts of the company is the reason why it wasn't worse off. you want to give bonuses within companies to the divisions doing well and one things i worry about the with the micromanage meant at the lower levels is we'll lose this ability to reward some parts that are doing well when the overall ban sk doing poorly. >> senior scholar at the mare cadas center working group located at george mason university and professor of law there and guest contributor to the harvard law school corporate government and financial regulated forum. mouth full. get back to the phones regarding executive compensation. maryland. charles for republicans on the "washington journal"? charle? >> yes i think this guys should have been stripped of everything. they got no compensation pay. they should have been locked up because what you see today that's happening is

feinberg says most still waiting for money simply haven't provided enough documentation. >> they just don't have the backup to justify it. >> reporter: but hardy says he's provided 1,700 pages to back up his claim. >> now i'm being told since ve got so much infoation on the table that it cannot be processed. >> that's ridiculous. >> reporter: feinberg says he's sticng to s promise. anyone who can prove lost income will be fully compensated. >> if i don't do that, i've faed. i've failed. >> reporter: lisa myers, nbc news, washington. >>> when "nightly news" continues in just a moment, a new look at the state of women's heth in this country, where we are and where we need to be. >>> it staed with thomas alva edison more than 100 years ago. it prey much ends tonight. ago. it pretty much ends tonight. my father brought me up to give back to society... felicia jackson promised her latsister that she would take care of her children. but she needed help. i used my american express open card to get half a million points to buy building materials to help build the jackson family a new home. we

. >>> coming up, an exclusive interview with white house pay czar, ken feinberg. find out if he thinks more compensation curbs are needed following wells fargo's decision to more than double the executive's pay at the top. here's a look at how we finished the day on wall street with the dow jones industrial average on the upside today. 40 points higher and now at 10443. a gain of 1 of 1.5. and the nasdaq composite also up by 11.34%. let's get to all of the action for our eye on the floor of the nyse. right to bob pisani we go. hello, rob sneerpt thanks very much, maria. the important thing here today is we're in a trading range and i think that's frustrating to a lot of people, but in's some very good reason yes we're actual flee that trading range. let me explain to you. the corporate news has been pretty good. earnings have been strong. and you saw what happened to retail sales here today, that was notably strong as well. the problem issue here is the overall economic picture. you saw what would happen today with the home sales numbers. you saw what's going on w

we will hear from disaster response effort -- expert ken feinberg. talking about reid hoffman and how he became one of the most connected investors in silicon valley next in tech. taking their love from football to new heights. the monastery in the south asian nation. monastery situated on a steep hill overlooking the capital, home to some of the poorest children in the country. working on using sports for development program as part of the effort to improve the quality of education to children. this video shot entirely with go pros which is collaborating with unicef. ♪ >> in tech today, we will hear from reid hoffman, a serial investor who is in on the ground floor of facebook and others. here is what he said about his track record. >> how do you have a life that you are proud about having, that you think what you did in the world was worth it? that it was worth the hard work, sweat, blood and tears? these are challenging projects. >> is there a magic that a founder brings that would be lost if you weren't here. go >> i think so. every founder is us

gulf oil spill victims from jefferson parish president john young and fund administrator kenneth feinberg. >> brown: ray suarez wraps up his series of stories from africa with a look at the suspected link between illness and intelligence. >> does being sicker as a child make it harder to learn for the rest of your life? we're asking that question in heavily disease burdened and very low-income mozambique. >> lehrer: we examine the options for u.s. policy after north korea's artillery attack on a south korean island yesterday. >> brown: and judy woodruff looks at the future of space exploration with science correspondent miles o'brien. >> 500 people have flown to space for so far. in the his of the space program. the notion is there will be 500 a month flying or maybe even more than that if the power of the entrepreneurial spirit is opened up. >> lehrer: that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: >> this was me-- best ribs in nelson county. but i wasn't winning any ribbons managing my diabetes. it was so complicated. there was a lot o

feinberg. not only has he a spectacular record in terms of addressing issues such as this, but he also comes from a community that i once represented. that's the city of brockton in massachusetts, and for those of you that are unaware, brockton is the city of champions. brockton was the home of the rock. that's rocky marciano, undefeated heavyweight champion of the world, and then, of course, there was marvelous marvin hagler, and now we have another champion in ken feinberg, whose success is extraordina extraordinary. it's a great community. as i said, this is an outstanding appointment. the president should be congratulated. he has a litany of accomplishments in addressing issues ranging from 9/11 compensation to overseeing executive compensation pursuant to the top legislation, and i'm confident that given his leadership and his talent that the concerns that have been expressed by members of the panel will be addressed by this young man from that hard scrabble community in massachusetts, the

that might happen to stephen feinberg.inberg, maybe he technically puts things in a trust but he still holds all of his servers assets, including contractors. he does not replace them with other assets and he works on defense at the same time. that has not happened yet, maybe if they did there would be an expert nation as to why it is ok. it certainly raises an issue. these are swampy waters. have somebody like jimmy correll at defending jared kushner, saying what he has done is legal. max brings up this notion that you have people in advisory roles, sometimes unpaid worried how legally sound is the argument they are making? >> they are day fasting from assets that are clear conflicts, keeping ones that are not. if policy ever comes up they will recuse themselves for making decisions that can affect those assets. legally it's found. however, the assets are so sprawling in both fine birds and kushner's cases that there is a that they willy have to recuse themselves from decisions. in a white house where so much of the commu

. >> i'm joined by ken feinberg.ive me your perspective in terms of how many families do you believe you will hear from who will take part in this fund? >> i think we will hear from a huge number of families. the notice program is going out to over 3 million people. if the accident involved a death or a physical injury in a designated g.m. automobile where it could have been the ignition switch, those claim apartments should file a claim. the program is voluntary. >> two families are here. laura christian, whose daughter died in a vehicle accident. what did you say to the families? >> i said i would very much like to meet with them and get their perspective on the program, hear what they have to say about their own individual claims. very, very sad. it was an opportunity to meet with a few of the families you don't want to put a cap in terms of how much people might ultimately receive from the fund, whether it is $5 million, $6 million, $7 million, why not? >> a cap is an arbitrary figure. it would be -- i think disi

ken feinberg.e will talk about his job on oil. we will talk about executive compensation. and i want to speak with ken feinberg about edward kennedy of massachusetts. stay with us on this friday. worldwide, this is bloomberg "surveillance" ♪ tom: good morning, everyone. bloomberg "surveillance" on china. our morning must read. lee hardman, bank of tokyo. up to the festivities of the week. stabilizes. it does not ease downward pressure on other asian currencies. at one point during trading, the ringgit had recorded its largest intraday decline against the dollar since the asian financial crisis in 1998." in hongice president kong. we welcome enda c -- enda curran. enda, the knock on effects here. how will it affect beijing's relationships with taiwan, with singapore, with jakarta, with malaysia? enda: good morning. i think malaysia is a good example of the collateral damage from china's devaluation. e, malaysia does have domestic problems. downward pressure directly into china's decision. look at vi

bring in ken feinberg.ounced the first statistics if you will in terms of the number of claims that have been filed and those that you've looked at that you've deemed as eligible. let's look at these numbers right now. people will find this interesting. a total of 445 claims have been filed since you opened up on august 1 for submissions. but so far, you've only determined that 31 are eligible. let's clarify. you're not saying the other ones are ineligible. they're still in process, right? >> that's exactly right. we've received these claims. some of them are woefully inadequate, no documentation, no signatures, no correct addresses. we're not rejecting the claims. we're finding 31 will eligible and the remainder are currently being processed and working with the claimant to firm up those claims. >> what's interesting, if we look at the numbers again, 19 of the death cases you've determined these are eligible for payments for the longest time, general motors said 13 deaths. i mean they stuck to that like it

feinberg will join us with details. betty: we will look at the legacy of david boys, -- david sides of the coin. other top stories this morning -- verizon taking over a well, the top story. the wireless giant paid $50 a share for the internet company and this would be verizon's biggest moved to buy new revenue streams beyond calling and data. verizon -- will verizon get what it pays for? allen is the chairman and founder of rick crawford partners, alec, you and i just spoke about this before you came on. you are one of the original backers of aol right? allen: approximately 1984. betty: 1984! allen: approximately. company anda game steve case -- steve was the chief marketing and ourselves and at that time it was alan patrick of associates and hamburg chris and i believe it may have been citigroup's, venture capitalists and a company called international nickel venture capital made the investment to take it out of bankruptcy. betty: did you exit when they got pop by time warner? alan: long before that. betty: you made go

what was feinberg's assignment? >> basically, he was asked to look at the window in which banks were taking t.a.r.p. money, but before they had passed some tough executive compensation rules, so they weren't playing by any rules but were getting government funds. he was asked to see whether the banks and the financial firms had made any payments that were inconsistent with the public interest. >> we have a graphic to show our audience, but it includes the likes of bank of america, citigroup, j.p. morgan chase, big guys. >> yeah, the biggest firms. you'll remember back in october of 2008 when t.a.r.p. was first passed, goldman sachs, they took money from the government. some needed, some didn't. they were making big payments. >> ken feinberg said that they were unwarranted and ill advised but he says he can't get the money or won't get it. what strictures is he working under? why not go after the money? >> he has very limited authority. congress gave him the ability to go back and look and look at the payments that w

we want to get -- thank our guest host, robert wolf and can feinberg. -- and can feinberg.s on the radio and "in the loop" is next. ♪ >> good morning. we're live from bloomberg headquarters. we are nine minutes away from the opening bell. a ceo will be joining as guest uberas companies such as face mounting concerns about privacy. in on increasing regulations. we will discuss the changing world of digital media and commerce. plus, amazon taking control from fedex and ups. we will -- we focus on that story yesterday. big work and they data needed for efficient distribution right ahead of the holiday season. he will join me in a few moments. here is a look at our top stories. congress to vote on a spending bill. the measure would avert a government shutdown and it rolls back the provision of the dodd-frank legislation that limits trading.

feinberg is going to look at dolled out february october of 2008 and february of 2009. he wants to make sure it was aligned with public interest and he's going to report back on that in 90 days, but today he issued its ruling on pay for the executives at the five firms that he oversees, paid for 2010. of the 119 executives 80 will earn more than $1 million this year, even if pay is down 15s from last year. and in a victory of sorts for feinberg he says a lot of those executives are staying on. here's what he had to say. >> no, it doesn't include people who left before i issued my paid determination in october, obviously. but what it does demonstrate, i think, is the argument that we hear all the time. if you don't pay more, this key official will leave, he'll go to a foreign competitor, i think -- i've always been dubious about that argument and i think that the statistics bear out the fact that the most individual stay at those companies. >> reporter: when you determine 2009 pay your emphasis was on lowering the cash salary and increasing stock, be it salarrized stock

ken feinberg is a hero, he'll be honest and straight.i'm worried about the erosion of the rule of law, which is the president using the vast powers of the federal government to strongarm a company no matter how unpopular and no matter how badly they may have behaved. >> lehrer: you see it the same way, mark? >> i don't, jim. i think david's one-third is interesting but now persuasive. this was not the president brutallizing anybody. b.p. made a corporate decision , its leadership dat the outset to acknowledge accountability and responsibility, to assure that they would, in fact, pay the full cost, and make people whole. and what the president does-- and i think it can be said of the presidenciy-- he may not have been jack kennedy in the oval office but he was lyndon johnson behind closed doors at the white house. i think he took that and put bones and flesh on it and said, "okay, this is what it's going to be. you can come up with $20 billion and they could have delayed the process. they could have gone the legal due process and all the

feinberg, we're watching the t.a.r.p. paid back at a rapid pace, wells fargo, citigroup, and now a story in the financial times that aig is listing its ash shn insurance group, is going to raise up to $20 billion, they're planning on paying back. how long do you expect to number this position? >> under the statute i serve at the pleasure of the secretary of the treasury. and the jurisdiction of my office. continues uninterrupted until all of the pertinent t.a.r.p. loans are paid back to the taxpayer. from what i gather, even though some have accelerated their payments, like bank of america and citi, other companies that are subject to my jurisdiction acknowledge that it's going to take a good deal longer, no matter what. so i think that the office of the special master will be around for some time to come. >>. >> reporter: if you were asked, would you do it again? >> you do not say no to the secretary of the treasury. and if secretary geithner asks you to do something, i suggest you do it. and i serve at his pleasure. and