Feinberg familiar with managing billions

Ken Feinberg is no stranger to managing billions of dollars and dealing with victims of disasters, experience he'll need for his next job, overseeing claims for the Gulf oil spill.

Feinberg was named by White House officials on Wednesday to head a $20 billion escrow account funded by BP for the oil spill in the Gulf of Mexico. 

He's taken on some of the toughest financial and emotional jobs in the nation — overseeing the compensation of top executives under the federal bailout plan, determining how much to pay families from the September 11th Victims Compensation Fund and working with the Hokie Spirit Memorial Fund for families of those killed in a shooting rampage on the Virginia Tech campus in 2007. 

He'll face emotional Gulf residents and business owners struggling as the oil spill spreads across four states — Louisiana, Alabama, Mississippi and Florida — in need of compensation as the spill takes its toll on the economy.