YouSaid · the spoken record

Ken Feinberg

lines on the record: 99
first: 2015-10-09
most recent: 2015-10-09
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“I tell people I've become a nationally known philanthropist with other people's money. It's sort of an interesting gig, actually.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“But it is satisfying to know that you have run a program, administered a program that has succeeded the way that Congress or the President of the United States or a judge or a governor or a mayor wanted that program administered. That is very satisfying to know that the Attorney General of the United States and President Bush can, we want you to do this, and that afterward they say job well done, yeah, that is very satisfying.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Mr. Feinberg, I'm 24 years old. I lost my husband, he was a fireman. And he left me with two children six and four. Now you're going to give me from the 911 fund three million dollars. I want it in thirty days. Mrs. Jones, why do you need the money in thirty days? We have to go to the treasury, they have to do their due diligence, the bureaucracy has to cut a check. It might be ninety days. thirty days I said, why? Why do you need the money? So quickly Why? I'll tell you why, Mr Feinberg. I have terminal cancer. I have ten weeks to live. My husband was going to survive me and take care of our two little ones. Now they're going to be orphans. I have got to get this money while I have my faculties. And set up a trust so that they'll be taken care of. We accelerated the money, Barry, and”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I, during the day, when you're dealing with these horrible tragedies, you're witnessing firsthand the worst in civilization. I mean the worst. Then at night you go to a symphony concert or you go sit at the opera or you listen to chamber music. And it's the height of civilization. So you try and measure and balance the horror with something that will help ease your pain and ease your mind when you're confronting during the day story after story you wouldn't believe these stories.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And they have every right to vent about life's unfairness. You're the target of this. Brace yourself before you take on the assignment, you know. Going to develop and you just prepare yourself.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's right. And also, frankly, you're helping people in grief. You can never, ever get angry at people. I mean, what they're going through. That's right.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“My latest book, Who Gets What? Public Affairs Press 2012. And, you know, my personal supply of that book is virtually inexhaustible, but I think people can go on to Amazon and get it.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm satisfied I think that's right. I don't forget I grew up in Massachusetts at a time when a fair haired son of Massachusetts was in the White House, and I remember as if it was yesterday President Kennedy exhorting all of us to Give back to the country. Public service is a noble undertaking. Everybody can make a difference. Government is not a bad word, and I try and live out that creed, I guess you would say, every day.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“What can you say? Mrs Jones, I wish I could bring your husband back. I don't have that power. All I can do small solace is give you money, so you have a bit more financial security for you and your children, but in terms of the horror of this, Mrs. Jones, there's nothing I can say.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And then what people have to confront, I'll never forget, a 24-year-old woman came to see me after 9-11, crying, crying. Mr. Feibrog, I lost my husband. He was a fireman at the World Trade Center. He got out of the building. He escaped. He saw that some people were trapped in the lobby. He ran back, save those people in the lobby, and brought them across the plaza safely to Lowa Broadway. While he was walking on the plaza, having rescued them, he was killed when somebody jumped from the hundred third floor of the World Trade Center and hit him, killing them both. Mr. Feinberg, if he had taken one step either way, he'd be alive today. There is no God that would allow this to happen. Mr Fimer. Those are the stores.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'll tell you one positive, never underestimate, Barry, the charitable impulse of the American people. It is unbelievable to me. Boston Marathon in sixty days a hundred thousand people contribute sixty one million dollars. For distribution Virginia Tech, in a matter of weeks eight million dollars, Sandy Hook, Connecticut eleven million dollars, Aurora, Colorado five million dollars people in America. Come to the aid to the rescue of people in need, and I've been around the world no nation on earth shows this degree of charity in times of need the way the American people do, there but for fortune. We're going to contribute.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely right. I tell law students, mister Feinberg, I don't know what I should do with my first job because three years from now I want to do three years from now Take a job that you like, that you can get, that pays what you need, enjoy it, don't worry about three years from now. I guarantee you three years from now you'll have a different outlook than the day one when you start your current positions.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, I don't think I'll plan more than two weeks ahead. You don't know what's going to happen. Life has a way, Barry, of throwing curveballs at everybody. I tell people all the time. Don't map your future too far out into the future. Life has a way of changing the rules.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, it has. What I do is extremely debilitating. Oh my goodness, shoot, you can't sleep. You're dealing with people who lost loved ones, who are venting to you about life's unfairness, validating the memory of a lost loved one, raising issues that Solomon would have trouble resolving, and I'm not Solomon by any means. You've been competitive.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It is a property claim. Now there may be different values, but it's a property claim. You're not involved with calculating, as we did earlier in the segment, calculating lost lives or physical injury. This is an easy case enough.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Interesting, a model that I think your chuckling can be chucked. A little bit can be challenged. Absolutely. But the Volkswagen problem is overwhelmingly a PR problem and an environmental problem where the EPA and the Justice Department are looking at it. But in terms of individual damage to the auto owner,”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'll say one thing about Volkswagen, which people shouldn't lose sight of. No matter what Volkswagen decides to do about this problem, there are no deaths, there are no injuries, these are problems of property value.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Most litigation gets resolved. In that sense, I mean, there's a recognition that litigation doesn't work. It's not efficient. But these special programs enacted by Congress or set up by GM or by BP, I think they're a precedent for nothing. Really? Nothing.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“There are mass taught cases like Agent Orange, like Dalcon Shield, like asbestos. We are the parties I think realize you're better off mediating a settlement. With Ken Feinberg or a judge or whoever, rather than litigate for years and years and roll the dice and pay the lawyers and who knows how to end up. That's true. Now I think that Most mass twits end up being resolved.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So when people say to me, this is the wave of the future, you're changing the law, I'm changing nothing. These programs are aberrations, Barry. Yes, I know. They are not mainstream.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Asian Orange, Dalcon Shield, and Asbestos Litigation all were settled under the auspices of a mass taught court. Only 9-11 BP and GM Are alternative programs divorced from the courts, separate.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Either they file a claim that makes no sense or They file a claim that may make sense, but they have no proof. To Feiburg, I lost $100,000 because I couldn't fish. I see. Well, do you have a tax return or a profit loss? We do things with a handshake down here.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Damage from that. I received in 16 months. 1,200,000 claims from 50 states, I got about 300 claims from New York. I didn't know the oil had got here to New York. I got claims from 35 foreign countries. Haw”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That was the argument. I explained to people I'm leaving now. I've resolved ninety two percent of all the eligible victims of the spill, and now there's very few left. BP decided to continue a program, not with me, but with others, as you say, and it unraveled. People started filing claims and making claims on damage, and it became pretty ugly.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, here's the money, a free preview, a free preview. If you think this adequately compensates you in a manner that will allow you to take the money in sixty days and wave your right to litigate. Well, virtually ninety two percent, virtually everybody took the money. Why wouldn't they take the money? They saw Money flowing out of our office to thousands of people who were apparently satisfied with what they were receiving took the money, signed a release not to litigate, and walked away.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Very difficult first, don't take the money, it's voluntary. If you think that Feinberg is not being fair, even though billions of dollars are going out the door, then by all means opt out and litigate so”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, very different as you pointed out, Barry. 9 11 was a patriotic duty. This is an international oil company Flush, who decided in its wisdom we will pay Mr. Feinberg and the entire staff to quickly and efficiently compensate all the victims of the spill. We do not want a replication of Exxon Valdez litigating for twenty years. We want to get rid of this. And so we set it up. Move on. Wrap it up.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You were running it while I was running it. We distributed in sixteen months six and a half billion dollars $20 billion. And I distributed the first $6.5 billion and paid about a half a million claims and received releases so people wouldn't sue. We compensated 92% of all the victims of the oil spill.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“The same in BP I was asked by the Obama administration in BP to design and administer a compensation program funded entirely by BP to compensate the victims of the oil spill, those businesses and fishermen and shrimpers and hotels on the beach in Florida and the Gulf who were adversely impacted economically by the oil spill, and that's what I did for sixteen months.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Every day. The Boston Marathon. Mr. Jones, you lost your leg when the marathon bombs went off. I'm here to let you know that you're going to receive from one fund Boston tax free one million one hundred twenty five thousand dollars. I am, Mr. Feybridge. That's what you're going to give me. I got a better idea. Keep the money. Give me my leg back. How's that?”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Mr. Feimberg, I lost my son driving a GM automobile. I lost my son on nine eleven. And you're offering me money Bring my son back. How's that? Mr Feinberg.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, that's all together. Or Sandy Hawke, Aurora, Colorado, Virginia Tech, the Boston Marathon, those aren't alternatives to the tort system. Those are gift programs. You don't wave your right to sue. Take the money. And sue if you want. Those programs are very different. There, I design programs where one size does fit all because there's no obligation on the part of the recipient to do anything but take the money.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Not at all, not at all. In subsequent matters in which I again am compensating people as an alternative to the tort system BP. GM The same. Everybody gets a different amount because you're trying to entice people out of litigating.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, you're giving me $2 million. You're giving my next door neighbor whose wife was a banker for Enron $4 million. What do you have against my husband? You didn't even meet my husband, and yet you're giving me two million less. There is no justice here and you had to deal with that all the time. Always remember this I've learned. When you have a program that compensates victims and there are numerous victims, everybody counts other people's money. It's not just what am I going to receive from Feinberg. What am I going to receive as opposed to my next door neighbor? And you better batten down the hatches and brace yourself because that gets very, very emotional.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Rabbis and priests may do that. I don't do that. I simply did what you just said. What would the person have earned over a work life but for nine hundred eleven?”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's how it's done. Some people think that I placed a value on lives based on the moral integrity of an individual. I didn't do that.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That was part of the congressional mandate. The Congress, the law, instructed me. In calculating damages to consider the tort system. Well, that's just what I did.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“In doing what I do, that grief can paralyze people, it can make them act so unreasonably. I said to the woman, Mrs Jones, you're going to get about three million dollars tax free. Set up a fund in your son's name. Go away, Mr Feinberg, I lost my son, and you're here to talk about money, and she never filed.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Were the only two people that neither came into my fund nor litigated against the airlines and the World Trade Center, so paralyzed were they by grief? They couldn't do either.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Just under three years. Right. 97%. Of all the families that lost a loved one on nine hundred eleven on the aeroplanes, the World Trade Center or the Pentagon came into the fund. Only ninety four people. Decided they'd rather sue than come into the fund, and they all settled the acclaims five years later. There never was a trial. On responsibility for 9-11.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You begin with the statute. Congress passed a law signed by President Bush and the law said that anybody who wants to come into this fund voluntarily funded entirely by taxpayer public money. Anybody who wants to do it can voluntarily decide and a special master appointed by the Attorney General John Ashcroft will calculate individual awards award compensation and authorize the US Treasury to cut a check over the thirty three month life of that statute, of that program.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Never ever I am a poster child for the proposition that people should not plan their career more than one year in advance, and they shouldn't plan the life too far ahead because life has a way of throwing curveballs at everybody and changing the best laid plans to”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It was, but on the other hand, there never was and there never will be a 911 precedent like that one. And I think what the country went through and is still going through in terms of the implications of the 9-11 attacks made it imperative that I step up and do my job as a public citizen.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“My thinking was I thought it highly inappropriate. Be making money off of the dead and the injured Resulting from a foreign terrorist attack, I thought it would be unpatriotic. A and B I thought that if I were getting money at the same time that I was calculating money for the victims and their families, there would be a firestorm. That I'm making blood money And I just thought I had enough challenges without being paid.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“The last two years nineteen seventy eight to nineteen eighty I was his chief of staff in the US Senate, running his operations. A fabulous opportunity.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I was a prosecutor in the US Attorney's Office in the Southern District of New York, an assistant US attorney. And I got word through the grapevine that Ted Kennedy was looking for an experienced criminal law practitioner. Join his excellent staff on the Senate Judiciary Committee, criminal law issues. So I applied, well, I'm a Brockton Mass native, and I applied to Senator Kennedy's office, got an invitation, met with him, he hired me, and that was the beginning of my five years with this extraordinary man, Ted Kennedy.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Here's an amount for pain and suffering A, B, C, and there's your reward. No, it's the emotion that you confront. When you sit one on one with people who have suffered horrible loss. And listen to thee the tales of woes. Validating the memory of a lost loved one, venting about life's unfairness that is what takes its toll, nought calculating dollars.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's right. The toughest part in all of these programs, Barry, that you referenced in your introduction, the toughest part clearly is not calculating damages or the amount of money that somebody should receive. I think that's not rocket science. It's done every day in our society.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Money in our society viewed as a barometer or as a reflection on unanticipated unpredicted grief resulting from the attacks that led to deaths and physical injuries so that survivors who Either of the attacks or the family of the dead. View the compensation as a reflection on the value of a lost loved one in times of grief, and that's why it's almost like an emotional salve to what they've confronted and faced.”
2015-10-09 · Masters in Business · An Interview With Ken Feinberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source