be interesting to see if they accept what feinberg offers. gerri: that's right, dave and liz, thanks for that. the question is will victims take the settlement? two lawyers as you said representing crash victims and families. we also have ralph nader. also coming up on today's show, obamacare beaten back once again. this time by the supreme court. we'll take a look what today's religious freedom exemption means. >>> also president obama nominates the former head of proctor & gamble to run the va. can the private sector fix this broken institution. >>> the july 4th holiday is deadly heft times of year for bets. important information how to keep those family members safe. "the willis report," where consumers are our business starts right now. gerri: tonight we begin with the gm recall. the story gets bigger and bigger. we received word general motors is recalling 8.4 million more cars. gm has recalled over 28 million cars so far this year. that is more than every other carmaker recalled last year, all of last year. and settlement announced toda

ken feinberg about to a.agen two decisions from the supreme court, one on union dues and obamacare. and bis, bank of international settlements launched a blistering attack on what it describes as euphoric markets, we'll consider that as well in hour two of "squawk on the street." ? ? that's enough time to record a memo. idea for sales giveaway. return a call. sign a contract. pick a tie. take a break with mr. duck. practice up for the business trip. fly to florida. win an award. close a deal. hire an intern. and still have time to spare. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business. built for business. that's keeping you from the healthcare you deserve. at humana, we believe if healthcare changes, if it becomes simpler... if frustration and paperwork decrease... if grandparents get to live at home instead of in a home... the gap begins to close. so let's simplify things. let's close the gap between people and care. ♪ the street." i'm diana o

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

. >>> 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. >>

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? >> mr. feinberg's program is a

feinberg? >> correct. >> this year alone, gm has issued an astonishing 44 recalls covering 17.7 million vehicles in the u.s. and more than 20 million worldwide. how many of those recalls to your knowledge relate to problems that were known to someone in gm before the bankruptcy sale order of july 2009? thet the senior level of company, the action would have been taken. >> it is your testimony that none of those are covered? >> i'm not sure what you -- >> you are saying here today that none of the recalls initiated this year relate to problems known to someone at gm before the bankruptcy sale order in july of 2009? >> i said the senior leadership had no knowledge of those issues -- >> that's not my question. you did an exhaustive investigation into the cultural problems at gm. investigation, did you identify anyone working at gm who had knowledge relating to those product recalls that covered products affected by that bankruptcy discharge order in july of 2009? >> if there was a known safety iss

feinberg today? >> i want to hear he's going to actually acknowledge each and every single death that we know about. i personally have found about 165 so far just myself. we know that there is a lot more out there. >> and, poppy, do you think feinberg will include those deaths in this settlement announcement? and what happens if families choose not to take part? >> well, that's the real key question. first, in terms if families don't part, we know some do not want to take part. they want to sue gm and see this go through trial. it is unclear whether or not if they do opt into this compensation program, if, carol, they're going to give up their right to sue in court or not. it is a mixed bag on that. bp oil spill, some got compensation could sue and some couldn't sue. that's a big question. some of them do not want to take part what they have heard so far, they're not pleased with. in terms of whether or not this number is going to go significantly higher, that is the ultimate, ultimate question. ken

feinberg craig c. that's correct. >> one of the things we know there's your loan gm has issued an astonishing 44 recalls covering 17.7 million vehicles in the u.s. and more than 20 million worldwide. how many of those recalls to your knowledge relate to problems that were known to someone at gm before the bankruptcy sale order of july 2009? see at the senior level no action would have been taken. >> so adjure testimony that none of those are covert? >> i am not sure. >> you were saying here today that no one, that none of the recalls that have been initiated this you relate to problems known to someone at gm before the bankruptcy sale order in july 2009? see what i said the senior leadership had no knowledge of those issues. >> that's my question. you did a very exhaustive investigation into the cultural problems at gm. my question as part of that investigation did you identify anyone working at gm who acknowledged relating to those product recalls that covered products affected by that bankruptcy disc

feinberg and it mary barra have to keep in mind. these are real people the loss is a direct result of gm and they have rights to a trial by jury if the conversation is not appropriate to. cheryl: jeff flock wanted to add something. >> but i don't want to speak for the company but they bush argues some of these cases some of the drivers were speeding, not wearing seat belts or over the legal limit with alcohol and i am guessing that will have day mitigating impact. but my suspicion is it would >> every single person deserves a right to survive. in a collision. doesn't matter if you have alcohol in your system if it could have saved you so you can live and to have family and children. the penalty is not death it is not to be killed because you hit the dash board way in your air bag does not apply. even though there may be some specific cases where individuals had carelessness they had a right to expect the car they were driving would function properly and would save their lives everybody deserves another day or another chance. cheryl:

. >> 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

feinberg? >> mr. feinberg's program is a voluntary program. otherwise people have the same rights they have today. >> they have the same rights, but you're trying to block those rights in the bankruptcy court yes or no? >> our intent is to do a compensation program and the right thing for these individuals. >> but you'restructing your lawyers to back off the bankruptcy case. so if mr. feinberg's parameters don't mitt but a competent court finds they might, not going to matter to you. i'll move on to another question. i'm concerned a little bit about the fact that your legal department didn't pick this up. were any of the lawyers fired for not being dill gept? >> there were four different functions in which individuals were fired. legal being one of them, engineering, quality and public policy. >> because it did concern me that the trooper young's report was sitting in the gm files in the legal department for a period of about six years and only one person opened the fire during that time period and that was the legal assistant. let me ask you

planompensation administered by ken feinberg was unveiled this morning in washington. us now with more. this will be a long, complicated process. what are the key takeaways? --gm will send whatever it spend whatever it takes, according to ken feinberg, who has become quite the expert in putting a price point on tragedy. he outlined the basic right. on how the program will work. the fund is on cap, meaning they are not setting a limit on how much to set aside, gm will pay whatever he deems appropriate. purelypation is voluntary, but anyone who takes money will have to give up the right to sue gm. victims of accidents from before are eligible even if they have already been compensated. that is a big one. contributory negligence is a relevant. meaning it does not matter if the victim was driving drunk or was texting as long as they can prove the car -- prove the proximate cause that the ignition switch defect was behind the accident. approved claims will be paid within 90 days to 180 days. this is just the latest piece of the very costly ignition switch puzzle. there is n

feinberg, your formula doesn't take into account extraordinary circumstances. i've heard some cases, one lady has lived for ten years with a felony conviction for reckless driving because no one knew at the time, they blamed her. nobody knew at the time it was the switch. that lady has extraordinary claim here, and we will go outside the formula and take a look at those unique characteristics. >> brown: this is a case, and i think b.p. was also, where you were hired by the company to help settle. gm, of course, has been under extreme criticism for keeping this to itself. what is your relationship with gm? what is your experience so far in terms of their cooperation? >> first of all, they've been extraordinarily cooperative. mary barra has lived up to her promise in terms of cooperating completely with me and the team that we've assembled in trying to design this program. i have no complaints whatsoever. i think the plaintiff's lawyers around the country, bob hilliard and lance cooper and elizabeth cabrese and others have been extremely cooperative. the center f

feinberg is offering or go to court and take your chances trying to get more?s at least look at the award. at least know what the award will be before you decide to take it or walk away from it. if you choose to walk away from it, you have some potential benefits and you have some potential risks. keep in mind each state now caps punitive damages. and they cap pain and suffering damages. so if there is a case where perhaps there are some contributory negligence or a bankruptcy defense, do you two, three years from now ask a jury to award a certain amount of money and can that award, under your state's caps, be more than the offer that mr. feinberg makes for you. >> another key point is the gm bankruptcy may shield the company from damages if the accident occurred during the bankruptcy. but i want to pose to you a broader question which is kenneth feinberg said he doesn't know how many have died in these accidents or how many injuries there might have been. gm acknowledges only 13 deaths so far. how many do you believe there are? >> the reason feinberg didn't kn

also, neel kashkari, who worked feinberg with the treasury department. for governorning in california. after the stunning defeat of eric cantor, what is neel kashkari have to say about his own party, the republicans? the insurance company rescued by the government is getting a new ceo. toer hancock promoted replace rubber band goucher. -- bob benmosche. i spoke exclusively with him last night. we will bring you thoughts on that change. two companies might team up to counter general electric's did for the alston business. one of the biggest upset ever in a congressional race -- the number two in public and in the house, eric cantor, lost in the primary to the key party candidate, david rat in -- david brat in virginia. campaign that a portrayed eric cantor as being soft on immigration. moving and shaking this hour, the incoming ceo of aig peter hancock. he will take over again september 4 bob benmosche. for bobptember benmosche. he established a derivatives group at j.p. morgan. internationalg's assets, return the company to profitability and repaid the g

feinberg? >> that is correct. >> now, one of the things we know is that by this year alone gm has issued an astonishes 44 recalls. cover 17.4 vehicles in the u.s. and 24 million worldwide. how many of those recalls, to your knowledge, relate to problems that were known to someone in gm before the bankruptcy sale order of july 2009? >> at the senior level of the company where the action would have been taken. >> so it's your testimony that none of those are covered? >> i'm not sure what you -- >> you're saying here today, that no one -- that none of the recalls that have been initiated this year, relate to problems known to someone at gm before the bankruptcy sale order in july 2009? >> what i said was, the senior leadership had no knowledge of those issues. >> and that's not my question. you did a very exhaustive investigation into the cultural problems at gm. >> yes, we did. >> my question is, as part of that investigation, did you identify anyone working at gm who had knowledge relating to th

feinberg's hands. only going to allow him to consider less than half of the recalled vehicles as part of the compensation plan. so the scope we need to listen to, but the scope likely is going to be far too narrow. as far as the compensation is concerned i haven't seen the final numbers, but my main concern for the compensation would be, this is unlike what mr. feinberg has ever done before. because you have a significant punitive component here. in other words, not only is gm at fault for what happened with these victims. but there could be punitive damages awarded because of the egregious pate of their conduct. >> which then brings up the question, will people opt in for this? because there will be some people who look at this and say, threat's throw a hypothetical number of $8 million per fatality. some people will say this is not about the $8 million, if i go to court i can get some punitive damages here not just about the money but i want to really put some sting into general motors. is that a pot

liz: that is ken feinberg charge with figuring out the gm compensation speaking with neil cavuto. the full interview tonight at 8:00 p.m. eastern. any other interview you saw before then is not as good as what neil got on him. maybe this is unfair to some people, it is recovering but we are an investor audience through look at what it is doing. as you can see, it is coming back down just about half a percent at the moment. let's continue with speaking about automobiles in a much different light. luxury. new line what segments are doing well, luxury is doing incredibly well looking for a new classifier. it seems mercedes-benz has struck gold. member this commercial? trying to convey a millennial type guy that into the mercedes world and what kind of a life he would have if he drove a mercedes. it is expanding from luxury buyers to mainstream buyers. bastard unveiled a model with a starting price of just points $9900. the campaign took off like lightning, the sales have been incredibly well now it is and what business would do. let's expand the lineup but also going to different ent

just a moment we are going to have more on this, jeff flock will be joining us, the latest from ken feinberg giving out money to crash victims, he gave neil cavuto interview today. wait until you hear what he says about it. now we're looking at the s&p which had been positive flipped to negative. we are now down 41 points. year to date, this chart does look good. wondering if there is some relation to the fact gm had been higher and turned negative. about two points, less than that, will be a new closing high, 23rd new record for 2014. have not been able to get there ithe last couple of sessions. the nasdaq another 14 year high has to and hired to close that 14 year high. they still are run up in june up nearly 4% the other way. it has done very well marked the best month since last september.

be interesting to see if they accept what feinberg offers.'s right, dave and liz, thanks for that. the question is will victims take the settlement? two lawyers as you said representing crash victims and families. we also have ralph nader. also coming up on today's show, obamacare beaten back once again. this time by the supreme court. we'll take a look what today's religious freedom exemption means. >>> also president obama nominates the former head of proctor & gamble to run the va. can the private sector fix this broken institution. >>> the july 4th holiday is deadly heft times of year for bets. important information how to keep those family members safe. "the willis report," where consumers are our business starts right now.

ken feinberg has to do this delicate and really, really sad task, chore of putting a value on a humannd maybe also on injuries that happened inside of the gm cars. there were the 13 deaths and 54 crashes, but ken feinberg has been given a great deal of authority inside gm to make a determination of who is eligible, the scope of this, what they'll be paid, what they'll be compensated for and just what it's going to look like. we'll find out on monday. here are some of the things he's worked on before, the deepwater horizon spill, $20 billion, the $7 billion for the 9/11 terrorist attack and $61 million for the boston marathon bombing. the marathon bombing payout was donations. he was asked to take the voluntary donations and disburse them among the victim's families, $2.2 million for each marathon victim is what he gave, $208,000 for the virginia tech massacre, per victim there, and the 9/11 terrorist attack he has said ken feinberg said he learned some lessons from that. that you might recall some people for example restaurant workers families got less money back than an investment ba

feinberg a program is voluntary. otherwise people have the same rights they have today. >> they have the same rights that you're trying to block those rights in the bankruptcy court, yes or no? >> our intent is to do a compensation program is to do the right thing for these individuals. >> but you're not instructing your lawyers to back off the claums that you want to be shielded in the bankruptcy court for any claims that the outside parties might bring so if mr. feinberg's parameters don't fit but a competent court might find they should fit it won't matter because you have the bankruptcy protection. i'll move on to another question. i'm concerned a little bit about the fact that your legal department didn't pick this up and i want to know, were any of the lawyers fired for not being diligent? >> i have stated that there were four different functions in which viz were fired at all levels of the company. legal being one of them. engineering quality and public policy. >> okay. because it did concern me that the troop

ken feinberg has yet to release his findings. there were probably be calls from congress for a real fine or punishment of gm like we saw in the case of toyota. that was a $1.2 billion criminal fine for the recall issue which had to do with the accelerator pedal. the chevy and follow from 2006-2014, a couple more buicks, and chevy monte carlo, it is a wide range and you can expect to see more of this from gm. they want to get as much of the out of the way as possible before she goes to testify before congress. >> do you think that gm has a check that is signed and they are waiting for ken feinberg to tell us how much to fill in? >> absolutely. they want to say that they do not want to forget about this, they will keep it in mind going forward, but surely they want to give it over this hump. when ken feinberg says how much, they will sign it and given to him. they cannot get over this quickly enough. and they want customers to focus on the good products they make now rather than the products in the past that may have caused acciden

feinberg is going to accept family -- basically, applications for this come august 1st. a long, drawn-out process. but bankruptcy complicates this. technically, under bankruptcy law, the new gm is not liable for the sins of the old gm and they are not waving that protection. we're going to see if these go to court or what fine better doles out. >>> a delicate dance. how the leader of france is trying to keep president obama and vladimir happy when they are not going to see each other. from separate dinners to meetings, will it work? we asked people a question, how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going to have to rethink this thing. it's hard to imagine how much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready for a longer retirement. ♪ if we want to be ready for a longer retirement. ♪ ♪ abe! get in! pu

. >> ken fineburg, the compensation expert hired by-- feinberg is in charge of approving those claims. those eligible under his plan are driver, passengers or pedestrians involved in an accident due to a faulty ignition switch. feinberg is expecting thousands of claims with compensation for fatallities starting at $1 million. >> how high do you think the damage amount will go? >> in the worst-case scenario double digit millions. it's speculative. i would have to see the form, the claim. i would have to see what the claimant is saying. >> could it reach that number. >> sure, sure it could. >> feinberg says gm's c.e.o. mary barra signed off on the numbers in a statement referring to the victims and their families, she said, we are taking responsibility for what has happened by treating them with compassion, decency and fairness. >> i think it's a little late for compassion. and fairness and decency. >> doorel johnsuetut 25-year-old daughter was killed in 2009. the family says they later learned the car she was driving had a faulty ignition switch. >> how do you compensate for the unreal

each case, it depends on the person who was involved and ken feinberg threw out a couple of examplesyear-old who is living at home, no income, i believe that the compensation is going to be 2.2 million. that's his estimate as of right now. he is just throwing out hypotheticals here. another example, a 25-year-old who is married with a couple of kids and a salary of 75,000, their compensation might be 5.1 million. and then there are scores of people who were injured in faulty gm vehicles and threw out an example who is a 10-year-old, a paraplegic, the fund payout, in his estimation, would be about $7.8 million. so, that gives you some sense of what the fund might be paying different victims related to the ignition switch crisis. but again, that's strictly related to faulty ignition switches and this new recall, the flash you're seeing at the bottom of the screen that is not related to the ignition switches, that is all new six new recalls involved there. >> fill, just put it in some perspective for our viewers. how many cars is gm estimated to sell this year? where are we? >> yeah, i

today, we heard mary barra, the ceo saying that ken feinberg will be determining how many people areompensated and how much they are compensated for either their injuries or because a loved one died in a car that had this ignition switch defect. but to the point of that exchange that you just heard there on capitol hill, barra was asked repeatedly today did you have previous knowledge about this defect in any way were you advised in your career? keep in mind, she's only been the ceo since december or january but she's been with the company as an engineer for the better part of 30 years. she repeatedly said no. more on the cap, on the situation involving the compensation. she said today that there will be no cap, no cap on the amount of money that ken feinberg, the compensation attorney, will be allowed to distribute to those people who have been affected and she also said -- and this is important -- if somebody decides that they are going to take the compensation from mr. feinberg and he will determine how much, that they, therefore, will be waiving the criticism from the court. gm's

feinberg offers, this is going to be your alternative. you will fight news bankruptcy and, what we tell gm we're prepared to fight that. gm, the fraud is not that long shot. gerri: all right. thanks to both of you, you guys. you both did a great job. lauren and bob, thanks so much. >> good seeing you, gerri. gerri: good to see you both of you. later in the broadcast we'll have the very latest on auto sales from jeff flock in chicago. >>> we have more and more to come this hour including your voice. we want to you facebook me and tweet me @gerriwillisfbn. at the bottom of the hour i will read your tweets and emails. >>> who is exactly taking care of our elderly and what are they hiding? new warnings from federal investigators on a potential security hole. stay with us. peace of mind is important when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep y

we'll find out monday when the attorney and compensation expert kenneth feinberg will unveil the plan for those who died or were injured as a result of defects in gm automobiles. at least 13 people died and many more were injured due to fault iggy initial switches, a defect that took a decade for gm to address. let's get started. normally at this point i'd give you a headline. i'd welcome a guest with expertise to talk about that story. and then i'd redefine the headline. today, because of a special guest, we're doing things differently. you are about to see the first television interview of a man who worked inside gm for more than 35 years. his time there didn't end well after he highlighted safety concerns to his supervisors and the gm board. today he argues that if his complaints to management had been acted upon, the ignition switch catastrophe would never have occurred. before you meet him, let's remember how we got here. while some gm employees were aware of problems with ignition switches back in 2004, it wasn't until this year that a recall was announced. and but for the sleut

feinberg who may be the right man for this job because he understands litigation. we have a strong relationship and i tell him as i'm telling you that i'm hopeful that this is going to be fair , but there are some things we are going to require if we are signing off on this. gerri: bob, i guess you're not going to tell me what he's telling you then? that's what i asked. >> i would like to, but part of the process is that it is a process and-- gerri: here's what i want to get to. i want your response on this. tomorrow there will be a lot of fireworks on capitol hill, no doubt about it as she testified i thank you will expect a lot of congress members to be adamant in their questions and insistent on change. what would you ask her if you were one of those commerce members? >> i would say, there is no one anywhere that believes this was a rogue engineer. your own policies and procedures would make a change like that-- a sign off of a document like that go up the food chain. if you had a corporate culture of complete not and say you're going to to do something, but you

feinberg gives his report. >> bob, quickly.ce today, mary barra, versus performance last time, how she's been acting in the meantime, more or less encouraged she's got a handle on this problem? >> less. it's clear that they've yet to really identify the problem. you know, the most telling part was the last minute of the hearing where mr. valucas confirmed he was given clear and limited parameters by the board of directors of gm, and he ad t admitted to chairman murphy, there is much more to discover. keep in mind he said i had marching orders and followed those orders. >> could get messy. bob hillard, thank you again. >> thank you. >>> well, from right to work to really going berserk. turns out that is not so easy to quit a union. the michigan teacher who found that out the hard way. >>> what time is it? >> all: union time! reluctant to try new things. really? what's wrong with trying new things? you feel that in your muscles? yeah...i do... drink water. it's a long story. well, not having branches lets us give you great rates

linked with the defective ignition switch have been disciplined, still with the company, and ken feinberg, the lawyer who is administering a compensation fund for those who were injured or were killed in the gm defective switch recalls of these vehicle, he says that by august 1st he will have a plan put together. he's already drawn up some preliminary plans that he plans to share with mary barra and senior executives. i want to show you these two individuals, two engineers at general motors who were at the center of the issue involving this ignition switch defective at first, then a part change was made that nobody knew about. they have been dismissed from general motors. as for mary barra's explanation for what went wrong, she says it in blunt terms. here she is. >> valukas found in this situation was a pattern of incompetence and neglect. repeatedly, individuals failed to disclose critical pieces of information that could have fundamentally changed the lives of those impacted by the faulty ignition switch. from start to finish, the cobalt saga was riddled with failure, which led to trag

feinberg. some of these families have said they want to go to court to seek punitive damages against gm because they feel that will bring gm further to justice for covering this up, for lingering this problem for so long. why should they take what you're offering rather than -- >> they shouldn't. they shouldn't. if an individual family member wants to seek to bring general hotters to justice -- general motors to justice in their mind by seeking punitive damages, they should not come into this program. they should sue. now, i would say this about litigating against general motors: it's one thing if somebody wants to litigate to get additional monetary punishment of general motors. i'm here to compensate victims, not punish general motors. i'm here to compensate victims, innocent victims. sometimes i hear victims tell me or their family we want to litigate because it's the only way we can find out what really happened. i'd be careful about that argument. there are other, more efficient available

ken feinberg will be the independent administrator of the program.he specific protocol and rules of the program are still under development by ken feinberg. he expects to bring that to conclusion in the coming weeks. >> any dollar numbers at this point? >> our objective is to do the right thing and go out and compensate all the people that should be compensated. >> wdav tv detroit. mary, i think the two questions that strike me most are, one, what was the environment that led to these kinds of attitudes? in other words was it fear the company might go under if there was a recall or just an arrogant attitude? the number two question is, how is it does the company allow for a part change without changing the number, which as i understand it is sort of the cardinal sin of all of this and what did the report today tell us about all of that. >> clearly there were a number of safety recalls that occurred over this period. some, you know, fairly significant. i think if you look at the root of this issue, first off you had a part that was released to go into

they tapped the former czar ken feinberg to manage the fund.ethey have delegated to full discretion to a value eight each individual claim and make a determination and pay the claims that are eligible. ast program should take in gm has demanded around august 1. theoining us now is managing partner at hagan berman law firm in seattle. he was a plaintiff attorney in the toyota recall case. he has won record settlements a big big -- against big oil and big tobacco. this is all speculation right now. in your view, could it be, we are talking almost 3 million , couldn't this become an astronomical number and that gm is going to have to pay? >> based on my experience in the toyota case, i think this will equal or exceed the toyota case. there recovered $1.6 billion. it is going to be higher. >> it sounds that way. me throughim a walk the toyota case is the same and also a little bit different than what is going on at gm. >> it is very similar. you just did a segment on "game of thrones." i would call these the game of concealment. the carstories, com

they will let ken feinberg the administrator of that fund decide what the value is and my clients areut quite frankly i'm realistic and conservative and will advise them based on what feinberg suggests. if he's being fair and if he says to each one of my clients we'll treat your case just like we would at the courthouse, then perhaps there's a way out for gm. >> but it also means it won't be one size or one settlement fits all. ken's history is such that he bases it on the potential earning power of a victim, so it could be a little for this victim, a lot for that victim. it could be all over the map. >> that's right. some of the amounts of damages are based on lost wages in the future. you know, many of my victims have close head injuries, can't work any more so they have a loss of value of just enjoying their life. and, you know, i know ken feinberg and we had some talks and he appreciates that that has value to these folks and general motors is serious about it you have to address it financially. >> we'll see. thank you. >>> all right. well, if he had to wait five years, bad news f

so keep your eye on this announcement from ken feinberg today because the level of compensation could be in the billions of dollars. >>> moving on from one series of compensation payments to another. bnb paribas, the french bank has been in the firing line for breaches of sanctions. it looks today, we will get a settlement of that with the doj, $8.9 billion or thereabouts thought to be the size of the settlement, and potentially they will also be excluded from doing some dollar banking business as an additional penalty for some months forward. but keep your eye on those two announcements today. they will be big news as far as the markets are concerned. back to you. >> we'll watch that. and jeff, i want to go back to the story we reported earlier. the former ceo of procter & gamble. this robert mcdonald guy picked to lead the v.a., what was his reputation as a ceo? >> i think he's a safe pair of hands. as far as procter & gamble is concerned, this is 120,000 employees across, what, over 180 countries. he managed a very sizeable business. he is a west point graduate which also gives him

feinberg has had the same role, distributing money for damages after 9/11, the bp oil spill and the boston marathon bombings as well. president obama today nomina, m a veteran of military and business to become secretary of veteran affairs. he's robert mcdonald of west point graduate. he was ceo of proctor & gamble. after a life in the consumer products business, he now takes over a va hounded by the scandal involving treatment delays at va hospitals. >>> still ahead for us tonight, buried in the fine print, the controversial experiment by facebook that some say was tinkering with users' emotions. and later, matt lauer's exclusive interview with pippa middleton, starting with the day she became known around the world. while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical

ken feinberg will be with neil at 8:00 p.m.eastern, you cannot miss that comment will be fantastic. president obama digging in his heels as he says he will continue to work around congress to get things done. take a listen. president obama: this keeps the system rigged for those at the top and those for the middle class. as long as they keep on doing this, i will keep taking actions on my own. stuart: i'm saying president obama officially became a lame duck on friday and over the weekend and these executive actions are nothing more than negative public opinion and making things worse, not better. >> he said american people i am willing to promise you i will abuse my authority power. he said i will not do my job, i will not go to congress and i will not negotiate, when all else fails, blame the republicans did charles: if i can get the public behind me and you grab pitchforks and torches, help me out because you have to redo this whole thing. >> the problem he has of course is the court. we saw in hobby lobby, you cannot abridge

ken feinberg who ran the 9/11 victim funds said it will be a while before he decides how to compensate those affected by the recall. back to you. >> all right. thank you. >> we are going to get some heat in the bay area. you will feel it head upwards today. >> good morning to you. scott, laura happy wednesday to you at home. getting closer to the weekend. noticeably warmer 5 to 10 degrees. and moderate cooling at the coast for today. 54 degrees. starting out the day 54 degrees. the cloudy sky overhead. some will notice in the south bay. it is no cause to roll in. definitely we are not working with as much cloud cover. the temperatures yes, that warm up. 91 degrees in the east bay. what a treat for you in the city by the bay. take a look at where we are headed. half as much cloud cover by tomorrow. not expecting as much fog and that warming trend will persist. the days trend hotter and driest and you have this longest retreat. temperatures here in the south bay. 92 on sunday. we'll keep you updated right now back to you scott and laura. >> a driver is in custody accused of kidnapping a

. >> rules in the eligibility criteria are being determined and set independently by ken feinberg.ll be his determination as to what the rules are, what the eligibility criteria are. he hasn't included that yet. all the information we have right now, information where we have specific details, that's the number. liz: gm leaders actually saying, well, those deaths in the back don't count, they are dismissed. well sax 15 employees are dismissed, fired from the company, and they're the ones that supposedly had most to do with not really dealing with the recall issue. when pressed later at a news conference on the exact level and job title of those employees, barra would only say that over 50% were, quote, at the executive level. okay, these clinical comments started to bother us here at fox business. but let's see if the investor was bothered, because we are a business network. (@9;jrj been watching this stock all day. >> reporter: we are constantly watching general motors after all these recalls and deaths as well, and we know that there's more to come, that's part of it, lawsuits to

ken feinberg, running victims compensation fund reports out monday. what are you expecting?> i'm not certain what we expect. we know there will be compensation fund. we don't know what the shape will be for that and what allowance for claims will be. i assure you we're awaiting that announcement on monday. gerri: congresswoman, thanks for helping us out tonight. >> thank you so much, gerri. gerri: if you noticed a lot more credit card offers in the mail lately. you're not alone. banks and credit card companies are on a campaign. volume of offers going to people with bad credit, it could be a cause for concern. for more on this, bankrate.com chief analyst, greg mcbride. good to have you here. here we are again, banks and credit card companies giving money to anybody that can fog a mirror, lowering standards. 39% increase in proportion of new subprime credit cards going out. is this a cause for concern? >> not yet. but look, it could become that way. all conditions are kind of ripe for us repeating history. we have record low interest rates and everybody is reaching for yield.

here is what feinberg said this morning on our program about benmosche. effective full stop he knew everything about the company and he came prepared to treasury and we personally in -- personally negotiated each and every compensation package. he set the gold standard for this. >> let's talk about who is going to take over for robert benmosche. what type of changes and what kind of background? >> peter hancock is a 20 year veteran of jpmorgan. he came to the company in 2010. he has big shoes to fill them as feinberg had mentioned, but he's also got other big additions to fill now that he will become ceo. run got to find a person to the property and casualty, which is what hancock did. to see whether winthrop, another possible successor, will stay at aig. if he does, he needs to find a good candidate to run the life and portion -- life insurance portion of aig. , it is well-known that he has been fighting cancer since 2007. he said to me yesterday that it is still there and he is fighting it aggressively, but he has no plans to take another job full stop