jonathan hill, one of our associate deans at seidenberg, is an expert in american security threats. dr. darren hayes, a seidenberg associate professor of information technology, just released his study on skimmer fraud with acca funding. with the help of leaders like these, pace is proud to cohost an important discussion like this, and now i'd like to to introduce another real leader on cyber crime. david szuchman is chief of the investigative division at the pan hat tan -- manhattan district attorney's office. when david was chief of the id theft bureau, his group chased down cyber criminals that were straight out of a james bond movie. illustrative of this, in one case they convicted 15 defendants for international identity theft and money laundering. the ringleader of the gang operated out of the ukraine, and before david's group shut them down, they stole more than 95,000 credit card numbers resulting in more than $5 million in credit card fraud. this case is just one of a number of investigations and convictions achieved by david's office which is unique in its expertise and ag

beth seidenberg has been -- life life sir it sciences company for a decade.een a ceo two times over. she joins us in the studio right now. thank you so much for joining us on "bloomberg west." it is such an interesting career to ceo. dr. to investor how does that happen? >> it happens by keeping your eyes open and taking whatever opportunity is in front of year. the hiv crisis and trying to make a difference for people suffering from aids. i did the first clinical trials, was part of that for kpcb. i developed a passion to make a difference for patients and to do it on a larger scale. in practice, i took care of patients for about seven years. then i went into rugged development at merck and amgen -- product development at merck and amgen. then i decided i wanted to build companies and make a bigger impact. >> why do we see this money flooding biotech right now? biotech is seeing a tremendous renaissance. it is a combination of science and insights and technology we never had before. the tools of genomics, retooling how patients respond to therapies, we are a

and joining us to sort this out is john seidenberg and john paul an attorney.at this little do-dad could have caused the death of a loved one and you can't sue because it is a new company. >> that is it. the new company looks a whole lot like the old one. but in bankruptcy court you never use it to escape liability for playing fast and loose with public safety. you go to bankruptcy court when you have economic downturns and you are not doing the financial aspect. and here gm is saying to the bankruptcy court in the 2009 filing, gm claimed not wanting to be responsible for this precise thing. so if the bankruptcy court approved that in 2009, it is likely to reaffirm it now and that is what gm asked for. and these poor people who got injured and killed are out of luck. >> and it was 57 cents? >> a 57 cents piece over millions. but with the bankruptcy action, how do they defend. at the end, they will pay people. there are punitive damages and the lawsuits can go forward but they are saying we don't want loss, medical expenses, loss of wages, in the past the people