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Absolutely. Damian paletta and james tankersley, thank you both for being with us today. Thank you. [captioning performed by national captioning institute] [captions Copyright National cable satellite corp. 2014] like hsbcake a case that got a 1. 9 billion settlement levied at them a year ago. Of the deferred prosecution theyment is they admitted have laundered as much as 850 million for a pair of central and south American Drug cartels. We are talking that not only did they commit minor financial infractions, technical infractions, we are talking about an organization that was operating at the top of the eagle narcotics pyramid. Criminal andor surprise. They admitted it. If they did not find the evidence to put those people in jail, that is on them. That is a failure of the regulatory system. Are guilty. D they they are in league with truly dangerous and violent people an ....
Responsibility and liability in this entire issue. Have you met with them and with the Engineering Team that was responsible for this switch . I have not met with the specific Engineering Team that is responsible, but i am speaking to leadership and those individuals are being interviewed as part of the investigation. Now, going back, did you say that this was a defective part when you talked about it earlier . We have learned when we knew when the recall decision was made and we later went back and looked at the chronology, theres points that suggest, and thats why were doing the investigation. Okay. All right. Now, i think that youre going to hear from more than one of us about not having a new part number assigned. Who made that decision . Was that strictly a delphi decision or did that come into the gm supply chain for that decision to be made as to how that part numb ....
Person was the one that decided not to recall the defective version . Where did where in the timeline is that . I dont know but that is part of the investigation that were doing. Do you know when it was that it was discovered, what year, what you know, where in the timeline that it was discovered that, in fact, a new part number was not assigned . I became aware of that after we did the recall and the timeline was put together. So that was just in the last month or so. Is that right . Thats when i became aware. But when did gm recallize that no new part number had been assigned . Again, thats part of our investigation. I want to know that just as much as you because thats an unacceptable practice. It is not the way we do business. So, youve stated publicly that something went wrong with our process. Hows the process supposed to work . Hows this how are you redesigning the process to ensure that, in fact, it should work the way that it needs to work . Well, one of the things we are doin ....
Switch. If you had a heavy key chain like my mom key chair or if you had if you were short and bumped up against the ignition with your knee, it could cause this key to switch right off. Mr. Chairman, we now know that these switches were defective from the start. In february of 2002, gms ignition switch supplier dell if i informed the company that the switch did not meet gms minimum specifications. But gm approved it anyway. Now, yesterday we sent ms. Barra a letter about this decision. I would like to make it a part of the hearing record. Without objection. Soon after the approval, the cars were on the road and it didnt take long for problems to appear. In 2003, june 2003, the owner of a saturn ion with 3,474 miles on the odometer made a warranty report that he or she, quote, bumped the key and the car shut off. Gm would receive more than 130 similar warranty claims of owners about this problem over the next decade and never informed the public or reported the problem to federal safet ....
Good morning. Welcome, everybody. Were coming to you from boca raton in florida. Our starting point this morning, a more forceful president obama, a more measured mitt romney. Last nights Foreign Policy debate here in florida, right here, in fact, is in the books now. And when it was over, a cnn orc poll of debate watchers favored the president over mr. Romney, 48 to 40 . Lets get right to senior Congressional Correspondent dana bash who was watching that debate. Good morning. Good morning. Look, we know this entire Election Year debates have really mattered. But this one was a little bit tricky because its about Foreign Policy. Thats not high on the priority list for voters. So each candidate really tried to make it a test of leadership. Especially the ....