Skip to content
Bloomberg the Company & Its ProductsThe Company & its ProductsBloomberg Terminal Demo RequestBloomberg Anywhere Remote LoginBloomberg Anywhere LoginBloomberg Customer SupportCustomer Support
  • Bloomberg

    Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world

    For Customers

    • Bloomberg Anywhere Remote Login
    • Software Updates
    • Manage Products and Account Information

    Support

    Americas+1 212 318 2000

    EMEA+44 20 7330 7500

    Asia Pacific+65 6212 1000

  • Company

    • About
    • Careers
    • Diversity and Inclusion
    • Tech At Bloomberg
    • Philanthropy
    • Sustainability
    • Bloomberg London
    • Bloomberg Beta
    • Gender-Equality Index

    Communications

    • Press Announcements
    • Press Contacts

    Follow

    • Facebook
    • Twitter
    • LinkedIn
    • Instagram
  • Products

    • Bloomberg Terminal
    • Execution and Order Management
    • Content and Data
    • Financial Data Management
    • Integration and Distribution
    • Bloomberg Tradebook

    Industry Products

    • Bloomberg Law
    • Bloomberg Tax
    • Bloomberg Government
    • BloombergNEF
  • Media

    • Bloomberg Markets
    • Bloomberg Technology
    • Bloomberg Pursuits
    • Bloomberg Politics
    • Bloomberg Opinion
    • Bloomberg Businessweek
    • Bloomberg Live Conferences
    • Bloomberg Radio
    • Bloomberg Television
    • News Bureaus

    Media Services

    • Bloomberg Media Distribution
    • Advertising
  • Company

    • About
    • Careers
    • Diversity and Inclusion
    • Tech At Bloomberg
    • Philanthropy
    • Sustainability
    • Bloomberg London
    • Bloomberg Beta
    • Gender-Equality Index

    Communications

    • Press Announcements
    • Press Contacts

    Follow

    • Facebook
    • Twitter
    • LinkedIn
    • Instagram
  • Products

    • Bloomberg Terminal
    • Execution and
      Order Management
    • Content and Data
    • Financial Data
      Management
    • Integration and
      Distribution
    • Bloomberg
      Tradebook

    Industry Products

    • Bloomberg Law
    • Bloomberg Tax
    • Bloomberg Government
    • Bloomberg Environment
    • BloombergNEF
  • Media

    • Bloomberg Markets
    • Bloomberg
      Technology
    • Bloomberg Pursuits
    • Bloomberg Politics
    • Bloomberg Opinion
    • Bloomberg
      Businessweek
    • Bloomberg Live Conferences
    • Bloomberg Radio
    • Bloomberg Television
    • News Bureaus

    Media Services

    • Bloomberg Media Distribution
    • Advertising
  • Bloomberg

    Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world

    For Customers

    • Bloomberg Anywhere Remote Login
    • Software Updates
    • Manage Contracts and Orders

    Support

    Americas+1 212 318 2000

    EMEA+44 20 7330 7500

    Asia Pacific+65 6212 1000

Bloomberg UK

Switch Editions
  • UK
  • Europe
  • US
  • Asia
  • Middle East
  • Africa
  • 日本
Sign In Subscribe
  • Bloomberg TV+

    Bloomberg Markets Europe

    Bloomberg Markets Europe

    Anchored by Anna Edwards and Mark Cudmore, Bloomberg Markets Europe is a fast-paced hour of news and analysis, building towards the drama and excitement of the start of the cash trade across the continent.

    Bloomberg Radio

    Bloomberg Daybreak Europe

    Bloomberg Daybreak Europe

    Overnight on Wall Street is morning in Europe. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Markets never sleep, and neither does Bloomberg News. Monitor your investments 24 hours a day, around the clock from around the globe.

    Listen

    Quicktake

    Township Yogi

    Township Yogi

    In South African townships oppressed because of unemployment, crime, drugs and violence, and where many of the population are suffering from HIV and Aids, this inspiring feature-length documentary follows the journey of six people who transform themselves through yoga, and documents the impact that yoga has on their families, and communities.

    Also streaming on your TV:

    • Markets
      Markets
      • Economics
      • Deals
      • Odd Lots
      • The FIX | Fixed Income
      • ETFs
      • FX
      • Factor Investing
      • Alternative Investing
      • Economic Calendar
      • Markets Magazine
      Oil Facilities And Services Ahead Of Final Year Figures After Demonetization Induced Fluctuation

      Markets

      Asian Buyers Binge on Cheap US Crude in Threat to Middle East

      Dubai World Cup 2022

      Markets

      Dubai Ruler Gets Chunk of Developer Emaar in $2 Billion Deal

      Market Data

      • Stocks
      • Commodities
      • Rates & Bonds
      • Currencies
      • Futures
      • Sectors

      Follow Bloomberg Markets

      View More Markets
    • Technology
      Technology
      • Work Shifting
      • Code Wars
      • Checkout
      • Prognosis
      SoftBank Group President Masayoshi Son Keynote Address at The JCI World Congress

      Technology

      Masayoshi Son Is Now Down $4 Billion on His SoftBank Side Deals

      NTT Headquarters and Docomo Shops As $38 Billion Buyout Plan Is In Talks

      Technology

      NTT Weighs Sale of Controlling Stake in Nihilent

      Bloomberg CEO Roundtable with Philippines Finance Secretary Carlos Dominguez

      Technology

      Philippine Tycoon Uy’s Business May Face $700 Million Debt Bill

      Follow Bloomberg Technology

      View More Technology
    • Politics
      Politics
      • US
      • UK
      • Americas
      • Europe
      • Asia
      • Middle East
      Deadly Riots Cast Pall Over South Africa’s Economic Recovery

      Politics

      Police Arrest 20 Alleged Instigators of Riots in South Africa

      US-POLITICS-JUSTICE-FRAUD-TRUMP

      Politics

      Trump Calls for Release of Search Warrant Documents Used in Raid

      Featured

      • Hong Kong's 25 Years Under China
      • Next China

      Follow Bloomberg Politics

      View More Politics
    • Wealth
      Wealth
      • Investing
      • Living
      • Opinion & Advice
      • Savings & Retirement
      • Taxes
      • Reinvention
      CHINA-EU-TRADE-SOLAR-ENERGY

      Wealth

      Chinese Solar Billionaire Doubles Fortune Despite US Sanctions

      In this photo illustration the FleetCor Technologies logo

      Wealth

      Payments Billionaire Found to Have Knowingly Deceived Customers

      Featured

      • How to Invest

      Follow Bloomberg Wealth

      View More Wealth
    • Pursuits
      Pursuits
      • Travel
      • Autos
      • Homes
      • Living
      • Culture
      • Style
      Cruise Ships Return To Auckland Harbour Following Reopening Of NZ Maritime Borders

      Pursuits

      New Zealand Welcomes Back First Cruise Ship Since COVID Hit

      Archives to Return Native American Remains, Burial Objects

      Pursuits

      Archives to Return Native American Remains, Burial Objects

      Featured

      • Screentime
      • New York Property Prices
      • Where to Go in 2022

      Follow Bloomberg Pursuits

      View More Pursuits
    • Opinion
      Opinion
      • Business
      • Finance
      • Economics
      • Markets
      • Politics & Policy
      • Technology & Ideas
      • Editorials
      • Letters
      New York Stock Exchange As Wall Street Seen Trapped In Crushing Bear Market

      John Authers

      Markets Get Cold Feet Even as More Good News Rolls In

      Enjoy Your Rosé and Beat the Heat ... While You Can

      Andrea Felsted

      Enjoy Your Rosé and Beat the Heat ... While You Can

      Bank Of England Headquarters Ahead Of Policy Meeting

      Marcus Ashworth

      Bank of England Takes a $100 Billion Leap Into the Unknown

      Follow Bloomberg Opinion

      View More Opinion
    • Businessweek
      Businessweek
      • The Bloomberg 50
      • Best B-Schools
      • Small Business Survival Guide
      • 50 Companies to Watch
      • Good Business
      • Subscribe to the Magazine
      tech_meta_01

      Technology

      Mark Zuckerberg’s Sheryl Sandberg Replacement Has Long Been Meta’s Top Fixer

      Booming Beef Industry Has Urban Cowboys Lining Up to Buy Cattle in Uruguay

      Finance

      Booming Beef Industry Has Urban Cowboys Lining Up to Buy Cattle in Uruguay

      The Work-From-Home Revolution Is Also a Trap for Women

      Economics

      The Work-From-Home Revolution Is Also a Trap for Women

      Follow Bloomberg Businessweek

      View More Businessweek
    • Equality
      Equality
      • Corporate Leadership
      • Capital
      • Society
      • Solutions
      PHILIPPINES-GAY-MARRIAGE-HOMOSEXUALITY

      Equality

      Same-Sex Union Bill Filed in Predominantly Catholic Philippines

      As Sea Levels Rise, Boston Scrambles To Protect New Seaport District

      CityLab

      Boston Set to Require Diversity Data on Private Real Estate Projects

      US-POLITICS-MIGRATION-MIGRANTS

      Equality

      NYC Says It Welcomes Migrants. The Reality Is More Complicated

      Follow Bloomberg Equality

      View More Equality
    • Green
      Green
      • New Energy
      • ESG Investing
      • Weather & Science
      • Electric Vehicles
      • Climate Politics
      • Greener Living
      • Cleaner Tech
      Eraring Power Station As Australia Is Transforming Grids Away From Coal Power

      ESG

      A $700 Billion Fund Is Under Pressure Over Plans to Curb Coal

      Large Wildfire Burning Amid Drought on Hawaii’s Big Island

      Green

      Large Wildfire Burning Amid Drought on Hawaii’s Big Island

      Featured

      • Data Dash
      • Hyperdrive

      Follow Bloomberg Green

      View More Green
    • CityLab
      CityLab
      • Design
      • Culture
      • Transportation
      • Economy
      • Environment
      • Housing
      • Justice
      • Government
      • Technology
      PHILIPPINES-EDUCATION

      Economics

      Years of Covid School Closures Leave Philippines With Deep Scars

      Hong Kong’s Found Cafe As City Ban on CBD Products Leaves Companies Facing Ruin

      CityLab

      Hong Kong’s Ban on CBD Products Leaves Companies Facing Ruin

      019761.ME.1116.topanga.2.AS Cityscapes on speeder flap in Topanga Canyon. Cars Northbound along Topa

      Transportation

      The Technology That Could Stop Speeders in Their Tracks

      Follow Bloomberg CityLab

      View More CityLab
    • Crypto
      Crypto
      • Decentralized Finance
      • NFTs
      • Regulation
      • Technology
      Green Crypto Miner In Canada To Go Public With Ticker 'SATO'

      Crypto

      Crypto Lender Tied to Chinese Rig Giant Throws Miners a Lifeline

      Coinbase Sued Over XRP Commissions After SEC Pursues Ripple

      Crypto

      Coinbase’s Stock Rebound Obscures Market Share Loss to Peers

      Crypto in Tbilisi as Devotees Begin to Contemplate a Market Bottom

      Crypto

      BlackRock Offers Bitcoin Investing to Big Institutional Clients

      Follow Bloomberg Crypto

      View More Crypto

Live on Bloomberg TV

CC-Transcript

  • 00:00Mr. Muhlenberg I have to say the testimony here today has been quite dismaying . I want to focus on the text exchange that has been referred to and it's been publicly reported on . This was a text exchange between Mark Faulkner who was then Boeing's technical pilot for the Mac's chief technical pilot for the max . And Mr. Gustafson who in 2018 was promoted to being Boeing's 737 chief technical pilot. Is that right . If that's the case Senator . So this exchange . Is stunning . Mr. Faulkner Oh shocker alert m cast is now active down to M2 . It's running rampant in the SIM on me . At least that's what Vince thinks is happening Gusta san's response. Oh great. That means we have to update the speed trim description and volume to . Mr. Faulkner so basically I lied to the regulators unknowingly justice and it wasn't a lie . No one told us that was the case . Faulkner I'm leveling off at like 4000 feet 230 knots and the plane is trimming itself like crazy . I'm like what . GUSTAFSON That's what I saw on some one. But on approach I think that's wrong . Faulkner. Granted I suck at flying . But even this was egregious . That exchange . Describes what happened in Lion Air and Ethiopian air . The men and women who are gathered here . With the photos of your loved ones three hundred and forty six people are dead . Because what these chief pilots described as egregious and crazy . That's their language. That's Boeing's internal language in this exchange . Now what I find truly stunning . Boeing handed this exchange over to the Department of Justice in February . In March I chaired a hearing of the aviation subcommittee on these two crashes . Boeing did not see fit . To give this committee that exchange . Nor did Boeing give it to the FAA or the Department of Transportation . But what I find most stunning is your testimony here today that you said you first learned of this exchange a couple of weeks ago . These are senior leaders at Boeing . In an exchange saying and I will quote again . So I basically lied to the regulators . Look I practiced law a lot of years . You had your lawyers look over this document . And they ran a senior leader after these crashes occurred saying they lied to the regulators. Mr. Muhlenberg how in the hell . Did nobody bring this to your attention in February when you produced this the Department of Justice how did you just read this a couple of weeks ago . Senator again to clarify my earlier comments I was made aware of the existence of this kind of document. This issue as part of that discovery process in the investigation early in the year as you pointed out. At that point I had counted on my counsel to handle it appropriately. And did you read this exchange that look I was made aware. Documents were being produced. That that is passive voice and disclaiming responsibility. You're the CEO. The buck stops with you. Did you read this document . And how did your team not put it in front of you run in with their hair on fire . Saying we got a real problem here. How did that not happen and what does that say about the culture at Boeing . If they didn't give it to you and you didn't read it and if you didn't say I want to read and see what happened . Your testimony here earlier today is well we're not sure what they were talking about because he's not at Boeing anymore. How did you not in February set out a nine alarm fire to say we need to figure out exactly what happened. Not after all the hearings not after the pressure but because three hundred forty six people have died and we don't want another person to die . So under as as you mentioned I didn't see the details of this exchange until recently. And we're not quite sure what Mr. Faulkner meant by that exchange . His his lawyer has suggested he was talking about a simulator that was in development in that time period. That's where he was working. That could be the case. We don't know . I fully support diving deep into this and understanding what he said and what he meant . But I can also tell you that in that same timeframe where his original message was made Mr. Gustafson still works at Boeing Corrector. Yes he does. Have you had that conversation with him . Senator my team has talked with Patrick as well. Have you had that conversation with him. Senator I have not .
  • NOW PLAYING

    'The Buck Stops With You,' Says Sen. Cruz to Boeing CEO

  • 02:15

    Chinese Solar Billionaire Doubles Fortune Despite Sanctions

  • 08:17

    Ballet Crypto CEO Very Bullish on Bitcoin, Cryptocurrency

  • 05:48

    Risk Reward for MSCI China Is Compelling: Lau

  • 02:27

    OPEC Forecasts Global Oil Surplus

  • 05:35

    Elara Capital's Kapoor on Indian Inflation

  • 01:36:52

    'Bloomberg Daybreak: Asia' Full Show (08/12/2022)

  • 46:19

    'Bloomberg Markets: China Open' Full Show (08/12/2022)

  • 06:38

    SITA on Digital Transformation in Aviation

  • 05:54

    TTF Australia CEO on Re-Opening Travel Challenges

  • 05:49

    Bank of Singapore's Lee on Markets and Strategies

  • 05:14

    Robeco's Crabb on Asian Markets

  • 47:19

    'Bloomberg Daybreak: Australia' Full Show (08/12/2022)

  • 06:52

    Ethereum Network at Pivotal Moment, BTC Markets CEO Says

  • 06:29

    Fixed Income 'Great Place to Be' if Fed Overtightens: Standard Chartered

  • 08:08

    Fed's Daly on the Inequality of Inflation

Stream Schedule:

U.S. BTV+
  • U.S. BTV+
  • U.S. BTV
  • Europe BTV
  • Asia BTV
  • Australia BTV
  • U.S. Live Event
  • EMEA Live Event
  • Asia Live Event
  • Politics Live Event
No schedule data available.

'The Buck Stops With You,' Says Sen. Cruz to Boeing CEO

October 29th, 2019, 6:29 PM GMT+0000

Senator Ted Cruz questions Boeing CEO Dennis Muilenburg about instant messages released recently in which a senior Boeing pilot told a colleague he’d unknowingly lied to regulators. Muilenburg appeared before the Senate Commerce Committee to talk about the safety of the Boeing 737 Max. (Source: Bloomberg)


  • Bloomberg Technology

    The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. Hosted by Emily Chang.
    More episodes and clips
    • 44:29

      'Bloomberg Technology' Full Show (08/11/2022)

    • 04:12

      Crypto Mixer Tornado Cash Sanctioned by US Treasury

    • 11:16

      Pinterest's New CEO Plans to Harness its 'Superpowers'

    • 04:49

      Bumble Tumbles on Full Year Revenue Guidance

See all shows
Terms of Service Trademarks Privacy Policy ©2022 Bloomberg L.P. All Rights Reserved
Careers Made in NYC Advertise Ad Choices Help