Marcia Franklin talks with attorney Kenneth Feinberg, the special master of the September 11th Victim Compensation Fund and the administrator of the BP Deepwater Horizon Oil Spill Trust and the Hokie Spirit Memorial Fund at Virginia Tech.

Mr. Feinberg also has served as special master in the Agent Orange, TARP executive compensation, asbestos personal injury, Dalkon shield, and DES (pregnancy medication) cases.

The two discuss how Feinberg found himself developing the field of mass tort compensation, what factors he took into account when designing the programs he administered, how the nature of his assignments has affected him, whether there is a role for government in compensating victims of disasters and whether he thinks the funds he's administered are appropriate models for the future.

Feinberg has written two books about his experiences, "What is Life Worth?" and "Who Gets What," and has served as adjunct professor of law at Georgetown University, the University of Pennsylvania, Columbia University, New York University, and the University of Virginia. He was in Idaho in October to present the annual Bellwood Memorial Lecture at the University of Idaho College of Law.

Originally aired: 11/16/2012