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

feinberg: "well frankly obamacare is creepy and scary for my generation.einberg also says the health exchanges, where people will go to buy private policies under obama- care, will get too much of customers' private data. that information's gonna span from private information such as tax information and personal financial information. but it's also gonna be health-status pieces of information, such as whether or not i'm sexually-active. senior administration officials have told cnn that the exchanges will get some financial information but not your medical history- except your age, and whether you smoke. feinberg says counter to president obama's remark- generation opportunity's not trying to encourage young people not to buy any health insurance. but there's also controversy over who's backing these ads: "these are billionaires several times over." the president implies, and democratic senator patty murray says flat-out, that it's the koch brothers, charles and david koch. strongly- conservative, mysterious billionaires-- who are behind the ads. standup:

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

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.

feinberg coming on board. he is bringing change with his leadership, and now he has met with the president. he is putting a face to the name, and he is driving that change through. >> suzanne: you have been very critical of how b.p. handled this crisis. >> i have. >> suzanne: if you were advising them, what would you tell them? >> i think they fell down on four key areas -- first of all, it was a failure to analyze failure. special since it was one that looked light it could be avoided in the first place. number two, they lacked a real crisis plan in the beginning. what happens in these situations is you need a bold response to this, and this wasn't happening. and there was too much inspection and not enough execution. and there are plans to correct that. and finally, the gulf between gestures and results. and all we've heard of is gesturing, but i think we are seeing that change. >> suzanne: at the end of the day, b.p. is an oil company. and a tarnished image doesn't mean much in terms of their product. peopl

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

the federal reserve board got into the feinberg act. fed said that it is going to impose and enforce new guidelines on all banks not just feinberg's crackdown on the bailed out seven. you with that, pat? the question, pat, has feinberg really cut the total compensation of these top bank executives or is this political hype? >> i think it's a bit of both, john, but he is going to cut the compensation of these banks. he is the pay czar, incidentally, one of 38 czars. the reason is for pop yu louse reasons obama couldn't stand the fact politically that these guys after taking our tax dollars, trading a bit, scooping their profits way up, they start reaping the rewards again out of tax dollars. so i think people will say they're getting what they deserve. they deserve to be cut even more. but there's this problem, john. we're going to create a two- tiered system here one of banks which the federal government goes after and cracks down on salaries and bonuses and dictates how they run things. another free banks which are out there. the real

ken feinberg on capitol hill to talk executive pay. we'll go there live, plus discuss how he has raised the base for for execs who receive t.a.r.p. money. >>> we're going to talk live with wyndham's ceo and get his take. this is "the call" on cnbc. >>> you might remember that during yesterday's show we were waiting for nasa's ares rocket to take off. we're still waiting. the latest and the launch is scheduled for 11:08 eastern time. the ares rocket is the centerpiece of a $445 pll million project to replace the space shuttle. it is the world's tallest rocket. you like this, larry? >> i love this. >> this has a simulated o ryan crew capsule. we're going to keep an eye on this and let you know whether it's going to take off. there have been many weather delays. >> it has a sharper trajectory than executive base pay. whoops. i'm sorry. bad crossover. >>> in the meantime, stocks trying to overcome a surprising job in september. right now, the dow is down about 45 points. it's good for about a half a percentage point. the s&p right now is t

while talking about mixed feelings let's move on to the reception kenneth feinberg received this week when he tried to walk the executive compensation tightrope. the question, how much is too much to pay corporate executives charged with rescuing the companies that received tax-funded bailouts? feinberg tried to answer that question last night on "the newshour." >> it's a delicate balance, on the one hand you want these companies to thrive so the taxpayer can be repaid. on the other hand, you've got to take into account the fact that excessive compensation can lead to this risk taking that has led to many of the problems now confronting the country. gwen: now, deborah, as tightropes go, this one is pretty perilous. >> it is. mr. feinberg actually joked when this is all over he'll have to move to pluto because no one will be happy with what he's done. he had to rein compensation in where outside pay has become the norm. even when you take a 50% whack at pay as he says he's done, you'll see people walking around with paychecks as much as $10.5 million in the case of a.i.g. he said it wa

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

feinberg's determination if the claim is in excess of $500,000 that's been granted, or if feinberg certifie. >> why $20 billion? >> it's not a floor or a ceiling. we wanted to make sure there were adequate resources there for people to know that they could have their claims met. there were also claims the states, local governments may have claims. and so we wanted to start this with a fund that would be adequate to meet all of those expectations. >> and just to reiterate, this does not eliminate or cap the economic damages that bp may be responsible. >> or natural resource damages. >> or natural resource damages. it does not limit in any way their responsibility. >> just one last question. we didn't hear from mr. hayward outside. did the president have anything specifically to say to him? >> the president spent 20 or so minutes at the very beginning of these meetings for several hour, our group was in discussing the details of the frame work agreement. the president spent 25 minutes with the chair alone in the owe yal office. i think you heard the president speak directly about that. the c

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

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

now, he -- that means kenneth feinberg will not necessarily rule on them. if he does not, aig will have to face the heat alone on this. and remember the scale of these, next week's bonuses only $2.5 million and the remaining $200 million scheduled to be paid out next year that from a previous contract, that will spark even more outrage. >> because it's taxpayer money, it will definitely create a reaction. >> it will. get ready next year. next week is small in comparison. next year, $200 million. >> thanks, brian todd. >>> coming up, an apology to black and hispanic kids kicked out of a suburban swim club. they still can't go back. >>> also employees at an his for rick african-american cemetery face felony charges. they're accused of digging up remains and reselling the graves. >>> also new developments tonight for small business owners who say the stimulus plan has passed them by. the obama administration is now considering bailing them out. we'll have that story, next. come fast enough. ieft introducing bayer quick release crystals. it's ready to dissolve

. >>> 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, myñr husband was a fireman.ade center who worked foreign ron. i don't get it. what do you have against my husband. and you have to explain how the law works. and how economic loss is açó factor. but it is very, veryt& >> rose: now has all that been settled? >> yes. thereÑi are about i think maybe one or two death cases from people who didn't want to go into my program, into the fund and wanted to litigate against the airlines, et cetera. there are some physical injury cases, many, many physical injury cases, thousands pending before judge hellerstein in federal court in manhattan. but i'm hopeful they will settle as well. >> rose: what other arbitration kinds of things have you done. >> agent orange, that was the first one that i did in in which one of the nation's most distinguished federal judges jack weinstein, brookline, asked me to try and mediate a resolution of that case involving vietnam veterans who claim that they had been injured by exposure to the defoliant argument orange in vietnam. that case had b

feinberg. however, the congress has an obligation to ensure that this fund is operating properly and fairly so that the people in the gulf remain whole for the harm caused to them and that the economy of the gulf is to get back up and running again. it is not absolutely clear if the fund is actually under the jurisdiction of this or any other congressional committee, and i is chairman appreciate your willingness of mr. feinberg to, and to sit before this committee today. today there is a large hole in proper oversight and accountability to ensure legitimate claims are getting the attention they deserve, and that the process of the ministry of payments is conducted in a timely manner. there is an appropriate effort in congress to direct an open transparent funds and i certainly hope and expect the fund will comply. and it can be expected the committee will continue to to properly conduct oversight into the process, payments and operations of the fund in order to ensure that there is a transparen

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

feinberg. senator miscast kill of missouri chairs the hearing. ght. this hearing will come to order. we revisit today the tragic management failures at gm that killed people. first, i want to acknowledge in my opening remarks then from my viewpoint the ceo of general motors, mary barra, has stepped up and con fronted head-on the problem and corporate culture that caused it. some see the record-number of recalls at general motors as a problem, i see it as a good sign. second, i want to briefly say that i think i speak on behalf of all members of congress who have asked very difficult questions surrounding these tragic events that while we are asking tough questions, we have great respect for the workers of general motors. i would like to take this moment to thank the workers at general motors. you are terrific. you build good cars. and you also were the victims of outrageously incompetent management. management was the problem here not the workers. the report i spent time with i find it thorough

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

feinberg caller: yes, what is though czar being paid? guest: he has not even been officially announced as such. we will see that in a few weeks. once they do that we will see his financial disclosures. host: his official term is special master for pay? guest: that is what we have been told. host: are you still there on the line with us? let's go to north carolina on our independent mind. caller: i was just curious with the bonuses paid out, it just seems if they are paying those it says there were doing what they're supposed to do. why would they be paid bonuses if they messed things up? it seems like they did their job. and they got their bonuses and a bailout they needed. it seems like everyone is being rewarded. for crashing the system and taking the bailout. guest: that is the concern of lawmakers and why they reacted with legislation a few months ago that went further than perhaps the administration wanted them to. that is apparent and the public mind. it is what they want to push the principles where firms are not encouraged to giv

. >> feinberg is a good man, but he's a lawyer. we have had a lot -- not a lot, but with some dealings with lawyers. who knows? one man can only do so much. you know, you see all the p.r. campaigns. like mr. feinberg, i respect and appreciate him coming, but really it's p.r. that's why he came here today is p.r., really. >> feinberg told us their skepticism is understandable. >> talk is cheap in doing this. they're absolutely right. it's all well and good to give people a comfort level that you will respect their claim, that they make a credible argument that they will be paid. until the check is in the mail, i must say everybody has a right to be skeptical and question the legitimacy of this and will it work? and that is fair and i understand that. >> reporter: with the fishing fleet still in port and no new seafood flowing through the system, the towns along the gulf wait for feinberg to make decisions that may ultimately spell financial life or death for thousands of businesses and hundreds of thousands of people. >> ifill: now,

turn here. ♪ >>> joining me now is ken feinberg.your job because you've been watching. i talked to a number of correspondents this week about what sort of stories they're hearing and the people that you might be dealing with so there's the real estate agent who had six deals go belly up on him. there's the fishermen who just bought a boat. there are people whose homes have lost value. not even anywhere near oil. how many of those people can you please? >> well, you hope that you can please everybody in one sense, that the program is fair, it's quick, it's consistent. you know, the claims are as diverse as human nature. i'll have to look at each claim, can't prejudge anything, see the facts, observe the facts. governor riley in alabama, i met with him about a week ago. he looked at me and said look me in the eye, ken, and tell me are you going to do right by the people of alabama and i told him absolutely, and i intend to. >> so when you are looking at all -- i know this is sort of a basic question. do you have a staff? are you super

would be feinberg's fault f wall street felt it was too harsh, it would also be feinberg's fault. >>ctly. >> explain how this came down. was this as strong as people expected? was it not as strong? give us a sense. >> frankly, i had only a couple conversations with several ceos on wall street and this is stronger than they expected. this is not something they expected. by the way, this is not something they expected at the seven companies that are at issue but not at the other firms. we're talking now about thousands that will be affected by this. and it really is going to hopefully -- and i think this really is going to send a strong signal to wall street, change the system across the board. when you hear about goldman sachs having $22 billion in potential bonuses, that may not happen anymore. and if it is going to happen, it's going to happen in stock, which is going to really change the game. >> and is that the way to decouple the idea that you get paid for the risk you take? in other words, it seems like we're still at the same system whereby the more risk you take, the higher yo

feinberg, i only get paid in cash. i am afraid to file a claim.ing all of my information that i provide you to the irs? i am not sure about what your intentions. no, no, no. this is not easy to convince people that some new program will help them. it takes some work. >> at the same time, this is a lot different from the other things -- the virginia tech victims, 9/11, because there were a controlled group of people. this is massive and it's an on going disaster. i wonder if the worry about fraud is a lot higher in this case? >> well, we only had out of 7300 applications on 9/11, we only had 35 examples of fraud. we have got to create as part of the program that i am establishing, an anti-fraud provision or protection. we are getting tremendous cooperation from the department of justice, which it will help us. we'll make sure nothing can undercut the credibility of this program more than fraud, and we'll take every step we can to minimize the likelihood of fraudulent applications and payments. >> in our final minutes, tell me how you found people d

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

. >> 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

neil: gm or ford, what does ken feinberg err to more? >> i'm sorry?l: gm or ford, what does ken finering bear to more? >> both great companies. [laughter]y. neil: stick around a, we'll have could be a question of blood flow. cialis for daily use helps you be ready anytime the moment is right. you can be more confident in your ability to be ready. and the same cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right a

a year later, there's lots of criticism of kenneth feinberg.ing the cash and the outrage, too. >>> also tonight, a plane carrying the first lady, michelle obama, aborts landing after a close call. is this another snafu linked to the faa? we've got some answers ahead. [ thunder rumbles ] [ male announcer ] the motorola xoom. designed to access anything and everything on the internet with adobe flash. upgradable to 4g lte for blazing-fast web surfing. and access to the fast growing, endlessly exciting apps in android market. it's everything the tablet should be. starting at $599. it's everything the tablet should be. [ indistinct conversations ] [ hissing ] agents, what did we learn here today? that lint balls are extremely flammable! well, yeah. and that 15,000 dryer fires happen every year! that's why it's important to regularly clean and inspect your vents! correct. where did you get that?! i built it. [ male announcer ] we are insurance. ♪ we are farmers ♪ bum, ba-da-bum, bum, bum, bum ♪ >>> you wonder how a guy my age at 260 pounds can be em

feinberg really is independent. really is neutral and understands the need to have everyone see him that way. i think that mr. feinberg really believes that he has that reputation, that he can do the right thing. >> bob, quickly, how many other clients do you expect to take this compensation? are you actually recommending it? >> it will not be a blanket recommendation. for some it may fit the plan better than others. i will give them recommendations. my intent right now is to look at all of my clients individual fact patterns, what the damages are, give them what i believe there award would the end of the plan and let them look at the trial and thento make recommendations. it is not an all in or all out, it will be very dependent on the facts. >> we really appreciate your insight, bob. we will be talking to ken feinberg in the next hour. breaking news out of washington, companies with religious objections to contraception can refuse to pay for them. megan hughes has been covering the story. megan, go ahead, take it