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Document Type

Lessons Learned

JEL Codes

G01, G28

Abstract

Kenneth Feinberg was special master for Troubled Assets Relief Program (TARP) executive compensation at the US Department of the Treasury during the Global Financial Crisis (GFC). He was tasked with overseeing the revision of executive payments at companies that received exceptional assistance from the government during the crisis. For four decades, Feinberg has managed victim compensations for major catastrophes, including mediating resolution of Agent Orange claims and serving as special master of the September 11th Victim Compensation Fund; recently, he was hired by the Justice Department to oversee the $500 million 737 Max Victims Fund allocated for the families of those killed in the two crashes involving Boeing 737s. This Lessons Learned is based on an interview held with Feinberg on March 11, 2021.

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