1 00:00:06,806 --> 00:00:22,422 >>> WHAT ARE THE STAKES BETWEEN THE U.S. AND CHINA RIGHT NOW? THERE ARE FEW PLACES BETTER THAN THE WESTERN PACIFIC ON BOARD THE 2 00:00:22,489 --> 00:00:29,062 AIRCRAFT CARRIER USS NIMITZ TO FIND OUT. >> IS THE U.S. NAVY READY? >> WE'RE READY, YES. 3 00:00:29,129 --> 00:00:36,870 I'LL NEVER ADMIT TO BEING READY ENOUGH. >> TONIGHT THE COMMANDER OF THE PACIFIC FLEET TALKS ABOUT THE 4 00:00:36,936 --> 00:00:45,345 STATE U.S. NAVY, CHINA'S GROWING FLEET, AND NEW LONG-RANGE MISSILE SYSTEMS, AND WHAT OUR TOP GUN PILOTS ARE SEEING IN THE 5 00:00:45,412 --> 00:00:49,449 SKY. >> HOW AGGRESSIVE HAVE CHINA BECOME IN THE AIR? >> AGGRESSIVE. 6 00:00:49,516 --> 00:00:57,557 >> IS IT YOUR HOPE THAT THE POWER OF THE U.S. NAVY, THE FORCED POSTURE OF THE U.S. NAVY, WILL DETER A CHINESE INVASION OF 7 00:00:57,624 --> 00:01:06,866 TAIWAN? >> IT'S NOT MY HOPE. IT'S MY DUTY. >>> ROCCO COMMISSO DOESN'T 8 00:01:06,933 --> 00:01:14,607 SUFFER FOOLS. BUT LIKE MOST ITALIAN SOCCER FANS, HE DOES SUFFER. THREE YEARS AGO, HE BOUGHT THE 9 00:01:14,674 --> 00:01:31,224 TEAM IN FLORENCE, WHERE GAME DAY IS FILLED WITH MORE AGONY AND ECSTASY THAN AN OPERA. WHEN COMMISSO BOUGHT FEE BJORN 10 00:01:31,291 --> 00:01:38,898 TINA, IT CHECKED TWO BOXES. SECOND, IT MET THE DEMAND BY HIS WIFE, THAT IF HE INSISTED ON BUYING A TEAM, IT HAD TO BE 11 00:01:38,965 --> 00:01:48,041 SOMEPLACE NICE. >> I'M LESLEY STAHL. >> I'M BILL WHITAKER. >> I'M ANDERSON COOPER. 12 00:01:48,107 --> 00:01:54,747 >> I'M NORAH O'DONNELL. >> I'M SCOTT PELLEY. THOSE STORIES AND MORE TONIGHT ON "60 MINUTES." 13 00:01:54,814 --> 00:02:11,231 >>> THE UNITED STATES NAVY HELPED SECURE VICTORY IN TWO WORLD WARS AND THE COLD WAR. TODAY THE NAVY REMAINS A 14 00:02:11,297 --> 00:02:16,536 FORMIDABLE FIGHTING FORCE. AND EVEN OFFICERS WITHIN THE SERVICE HAVE QUESTIONED ITS READINESS. 15 00:02:16,603 --> 00:02:23,576 WHILE THE U.S. SPENT 20 YEARS FIGHTING LAND WARS IN IRAQ AND AFGHANISTAN, THE PENTAGON WATCHED CHINA, ITS GREATEST 16 00:02:23,643 --> 00:02:30,049 GEOPOLITICAL RIVAL OF THE 21st CENTURY, BUILD THE LARGEST NAVY IN THE WORLD. CHINA HAS THREATENED TO USE THAT 17 00:02:30,116 --> 00:02:37,724 NAVY TO INVADE TAIWAN, AN IMPORTANT AMERICAN ALLY. AS TENSIONS WITH CHINA CONTINUE TO RISE, WE WANTED TO KNOW MORE 18 00:02:37,790 --> 00:02:49,569 ABOUT THE CURRENT STATE OF THE U.S. NAVY AND HOW IT'S TRYING TO DETER CHINA WHILE PREPARING FOR THE POSSIBILITY OF WAR. 19 00:02:49,636 --> 00:02:56,676 >> THE NAVY'S ALWAYS ON ALERT. ONE-THIRD OF THE NAVY IS ALWAYS DEPLOYED AND OPERATING AT ALL TIMES. 20 00:02:56,743 --> 00:03:06,119 THE NAVY'S MUSTERING RIGHT NOW ABOUT 300 SHIPS, AND THERE ARE ABOUT 100 SHIPS AT SEA RIGHT NOW ALL AROUND THE GLOBE. 21 00:03:06,185 --> 00:03:15,662 >> ADMIRAL SAMUEL CAPARO COMMANDS THE U.S. PACIFIC FLEET, WHOSE 250 SHIPS AND 150,000 SAILORS AND CIVILIANS MAKE UP 22 00:03:15,728 --> 00:03:24,470 60% OF THE ENTIRE U.S. NAVY. WE MET HIM LAST MONTH ON THE AIRCRAFT CARRIER USS NIMITZ, DEPLOYED NEAR THE U.S. TERRITORY 23 00:03:24,537 --> 00:03:31,878 OF GUAM SOUTHEAST OF TAIWAN AND THE PEOPLE'S REPUBLIC OF CHINA, OR PRC. >> YOU'VE BEEN OPERATING AS A 24 00:03:31,945 --> 00:03:38,952 NAVAL OFFICER FOR 40 YEARS. HOW HAS OPERATING IN THE WESTERN PACIFIC CHANGED? >> IN THE EARLY 2000s, THE PRC 25 00:03:39,018 --> 00:03:47,760 NAVY MUSTERED ABOUT 37 VESSELS. TODAY THEY'RE MUSTERING 350 VESSELS. >> THIS MONTH, CHINA'S NEW 26 00:03:47,827 --> 00:03:55,301 FOREIGN MINISTER DELIVERED A STERN WARNING TO THE U.S. HE SAID THAT IF WASHINGTON DOES NOT CHANGE COURSE IN ITS STANCE 27 00:03:55,368 --> 00:04:04,544 TOWARDS CHINA, CONFLICT AND CONFRONTATION IS INEVITABLE. THIS PAST AUGUST, WHEN THEN-SPEAKER OF THE HOUSE NANCY 28 00:04:04,611 --> 00:04:12,752 PELOSI BECAME THE MOST SENIOR U.S. POLITICAL FIGURE TO VISIT TAIWAN IN 25 YEARS, CHINA CALLED IT A BLATANT PROVOCATION. 29 00:04:12,819 --> 00:04:20,393 THE PEOPLE'S LIBERATION ARMY FIRED BALLISTIC MISSILES INTO THE SEA AROUND TAIWAN AND ENCIRCLED THE ISLAND WITH 30 00:04:20,460 --> 00:04:28,001 AIRCRAFT AND WARSHIPS. >> SO, OUR CHINESE WARSHIPS NOW OPERATING CLOSER TO TAIWAN AFTER NANCY PELOSI'S VISIT? 31 00:04:28,067 --> 00:04:34,774 >> YES. >> THE BEST GUESS ANYONE HAS ABOUT CHINA'S ULTIMATE INTENTIONS FOR TAIWAN COMES FROM 32 00:04:34,841 --> 00:04:42,415 THE CIA. ACCORDING TO ITS INTELLIGENCE ASSESSMENT, CHINA'S PRESIDENT, XI JINPING, HAS ORDERED THE 33 00:04:42,482 --> 00:04:50,323 PEOPLE'S LIBERATION ARMY TO BE PREPARED TO TAKE BACK THE ISLAND BY FORCE BY 2027. >> AND IF CHINA INVADES TAIWAN, 34 00:04:50,390 --> 00:04:56,429 WHAT WILL THE U.S. NAVY DO? >> IT'S A DECISION THE PRESIDENT OF THE UNITED STATES AND A DECISION OF THE CONGRESS. 35 00:04:56,496 --> 00:05:04,871 IT'S OUR DUTY TO BE READY FOR THAT. BUT THE BULK OF THE UNITED STATES NAVY WILL BE DEPLOYED 36 00:05:04,937 --> 00:05:13,946 RAPIDLY TO THE WESTERN PACIFIC TO COME TO THE AID OF TAIWAN IF THE ORDER COMES TO AID TAIWAN IN THWARTING THAT INVASION. 37 00:05:14,013 --> 00:05:22,655 >> IS THE U.S. NAVY READY? >> WE ARE READY, YES. I'LL NEVER ADMIT TO BEING READY ENOUGH. 38 00:05:22,722 --> 00:05:30,830 >> PRESIDENT BIDEN HAS DECLARED FOUR TIMES, INCLUDING ON "60 MINUTES," THAT THE U.S. MILITARY WOULD DEFEND TAIWAN, WHICH IS A 39 00:05:30,897 --> 00:05:39,238 DEMOCRACY AND THE WORLD'S LEADING PRODUCER OF ADVANCED MICROCHIPS. TO REACH THE USS NIMITZ, WE 40 00:05:39,305 --> 00:05:45,111 FIRST TRAVELLED TO AMERICA'S WESTERN MOST TERRITORY, THE ISLAND OF GUAM IN THE MIDDLE OF THE PACIFIC. 41 00:05:45,178 --> 00:05:56,222 GUAM WAS TAKEN BY IMPERIAL JAPAN TWO DAYS AFTER THE ATTACK ON PEARL HARBOR IN 1941. U.S. MARINES RECAPTURED IT TWO 42 00:05:56,289 --> 00:06:03,496 AND A HALF YEARS LATER. AND THE ISLAND, ABOUT THE SIZE OF CHICAGO, BECAME AN INDISPENSABLE STRATEGIC FOOTHOLD 43 00:06:03,563 --> 00:06:11,504 IN THE WESTERN PACIFIC, AS IT REMAINS TODAY. FROM GUAM, WE BOARDED A NAVY C-2 GREYHOUND. 44 00:06:11,571 --> 00:06:16,843 THE COLD WAR ERA TRANSPORT PLANE TAKES PEOPLE AND SUPPLIES BACK AND FORTH FROM LAND TO THE CARRIER. 45 00:06:16,909 --> 00:06:30,723 IT WAS A SHORT FLIGHT TO THE SHIP AND AN EVEN LANDING. >> FIRST TIME LANDING? >> YES. 46 00:06:30,790 --> 00:06:37,430 >> BEFORE THE ADMIRAL ROSE TO LEAD THE PACIFIC FLEET, HE FLEW JETS AND GRADUATED FROM THE SCHOOL KNOWN AS TOP GUN. 47 00:06:37,497 --> 00:06:44,437 >> WHEN YOU TALK ABOUT SHIPS, WHAT'S THE MOST POWERFUL IN THE U.S. NAVY? >> IT'S AN AIRCRAFT CARRIER, AND 48 00:06:44,504 --> 00:06:55,815 ITS AIR WING IS CAPABLE OF 150 STRIKE OR AIR-TO-AIR SORTINGS PER DAY WITH ADDED SEARCH LEVELS, THE ABILITY TO DELIVER 49 00:06:55,882 --> 00:07:01,687 900 PRECISION GUIDED MUNITIONS EVERY DAY AND RELOADABLE EVERY NIGHT. >> SO, EVEN THOUGH CHINA NOW HAS 50 00:07:01,754 --> 00:07:06,325 THE LARGEST NAVY IN THE WORLD, THEY DON'T HAVE ANYTHING LIKE THIS IN TERMS OF AIRCRAFT CARRIERS? 51 00:07:06,392 --> 00:07:12,098 >> THEY DO NOT. BUT THEY'RE WORKING TOWARDS IT. THEY HAVE TWO OPERATIONAL AIRCRAFT CARRIERS RIGHT NOW. 52 00:07:12,165 --> 00:07:23,476 >> THAT'S CHINA'S TWO DIESEL-FUELLED CARRIERS TO THE U.S.'S 11 NUCLEAR-POWERED ONES THAT CAN CARRY A TOTAL OF ABOUT 53 00:07:23,543 --> 00:07:28,781 1,000 ATTACK AIRCRAFT, MORE THAN THE NAVIES OF EVERY OTHER NATION ON EARTH COMBINED. >> I'LL TELL YOU THIS. 54 00:07:28,848 --> 00:07:34,020 WE ARE HERE TO SAY, RIGHT, IN THE SOUTH CHINA SEA AND IN THIS PART OF THE WORLD. AND I THINK THAT'S THE MESSAGE 55 00:07:34,086 --> 00:07:39,959 THAT WE REALLY WANT TO CONVEY TO NOT ONLY CHINA BUT THE ENTIRE WORLD. WE WILL SAIL WHEREVER 56 00:07:40,026 --> 00:07:49,635 INTERNATIONAL LAW ALLOWS. >> LIEUTENANT COMMANDER DAVID ASH FLIES AN F/A-18. >> DO YOU GET BRIEFED ON CHINA'S 57 00:07:49,702 --> 00:07:56,876 GROWING MILITARY THREAT AND THE PROGRESS THAT THEIR NAVY IS MAKING? >> ABSOLUTELY, YEAH. 58 00:07:56,943 --> 00:08:02,048 ABSOLUTELY WE DO. AND THEY ARE MAKING GREAT PROGRESS IN A LOT OF KEY AREAS. >> THE CHINESE? 59 00:08:02,114 --> 00:08:08,988 >> THE CHINESE ARE, FROM THE MILITARY STANDPOINT. >> THIS VIDEO FROM WEAPONS SYSTEMS OFFICER, MATTHEW 60 00:08:09,055 --> 00:08:18,331 CARLTON, SHOWS HIS F/A-18 STRAFING GROUND TARGETS WITH A MACHINE GUN ON A U.S. WEAPONS RANGE NEAR GUAM. 61 00:08:18,397 --> 00:08:28,407 THE PILOTS ON THE NIMITZ ALSO CONDUCT AIR-TO-AIR COMBAT, OR DOGFIGHTING DRILLS, DAILY. >> HOW AGGRESSIVE HAS CHINA 62 00:08:28,474 --> 00:08:35,381 BECOME IN THE AIR? >> AGGRESSIVE. AND JUST SOME EXAMPLES INCLUDE UNSAFE, UNPROFESSIONAL 63 00:08:35,448 --> 00:08:42,722 INTERCEPTS, WHERE THEY MOVE WITHIN SINGLE DIGITS OF FEET OF OTHER AIRCRAFT, FLASHING THE WEAPONS THAT THEY HAVE ON BOARDS 64 00:08:42,788 --> 00:08:50,162 OF THE OTHER AIRCRAFT, OPERATING IN INTERNATIONAL AIRSPACE, MANEUVERING THEIR AIRCRAFT IN SUCH A WAY THAT DENIES THE 65 00:08:50,229 --> 00:08:56,469 ABILITY TO TURN IN ONE DIRECTION. IF THEY'RE SAFE AND PROFESSIONAL, THEN THERE IS NO 66 00:08:56,535 --> 00:09:03,109 PROBLEM. EVERYBODY HAS THE RIGHT TO FLY AND SAIL WHEREVER INTERNATIONAL LAW DICTATES. 67 00:09:03,175 --> 00:09:10,082 >> BUT THE CHINESE ARE PUSHING THAT. >> THEY ARE PUSHING IT. >> CHINA'S INCREASINGLY 68 00:09:10,149 --> 00:09:15,588 AGGRESSIVE MOVES IN THE WESTERN PACIFIC, ENCROACHING ON TERRITORY, ILLEGAL FISHING, AND BUILDING BASES IN THE MIDDLE OF 69 00:09:15,655 --> 00:09:23,629 THE SOUTH CHINA SEA, HAVE PUSHED NATIONS LIKE JAPAN AND THE PHILIPPINES TO FORCE CLOSER MILITARY TIES TO THE U.S. 70 00:09:23,696 --> 00:09:33,239 AND THIS PAST WEEK, BRITAIN, THE U.S., AND AUSTRALIA SIGNED A LANDMARK DEAL TO JOINTLY DEVELOP NUCLEAR-POWERED ATTACK 71 00:09:33,306 --> 00:09:39,111 SUBMARINES TO PATROL THE PACIFIC. THIS IS HOW CHINA AND TAIWAN APPEAR ON MOST MAPS. 72 00:09:39,178 --> 00:09:50,089 THIS IS HOW THE CHINESE COMMUNIST PARTY SEES THE WESTERN PACIFIC, INCLUDING THE SOUTH AND EAST CHINA SEAS FROM BEIJING. 73 00:09:50,156 --> 00:09:59,031 TAIWAN IS THE FULCRUM IN WHAT CHINESE LEADERS CALL THE FIRST ISLAND CHAIN, A CONSTELLATION OF U.S. ALLIES THAT STRETCHES 74 00:09:59,098 --> 00:10:09,075 ACROSS ITS ENTIRE COAST. CONTROL OF TAIWAN IS THE STRATEGIC KEY TO UNLOCKING DIRECT ACCESS TO THE PACIFIC AND 75 00:10:09,141 --> 00:10:15,614 THE SEA LANES WHERE ABOUT 40% OF THE WORLD'S COMMERCE GETS TRANSPORTED. >> CHINA HAS ACCUSED THE UNITED 76 00:10:15,681 --> 00:10:21,420 STATES OF TRYING TO CONTAIN THEM. WHAT DO YOU SAY TO CHINA? >> I WOULD SAY, DO YOU NEED TO 77 00:10:21,487 --> 00:10:27,059 BE CONTAIN SND ARE YOU EXPANDING? ARE YOU AN EXPANSION? TO A VERY GREAT EXTENT, THE 78 00:10:27,126 --> 00:10:36,936 UNITED STATES WAS THE CHAMPION FOR CHINA'S RIDES. AND IN NO WAY ARE WE SEEKING TO CONTAIN CHINA. 79 00:10:37,003 --> 00:10:44,076 BUT WE ARE SEEKING FOR THEM TO PLAY BY THE RULES. >> CHINA'S NAVY, A BRANCH OF THE PEOPLE'S LIBERATION ARMY, IS NOW 80 00:10:44,143 --> 00:10:54,220 THE WORLD'S LARGEST. CHINA IS ALSO USING ITS 9,000-MILE COASTLINE TO REWRITE THE RULES OF FIGHTING AT SEA. 81 00:10:54,286 --> 00:11:02,194 AS THESE IMAGES FROM CHINESE STATE MEDIA SHOW. ITS MILITARY HAS INVESTED HEAVILY IN LONG-RANGE 82 00:11:02,261 --> 00:11:13,639 PRECISION-GUIDED WEAPONS LIKE THE DF-21 AND DF-26 THAT CAN BE USED TO TARGET SHIPS. CHINA'S PEOPLE'S LIBERATION ARMY 83 00:11:13,706 --> 00:11:20,980 ROCKET FORCE CALLS THEM CARRIER KILLERS AND HAS PRACTICED SHOOTING THEM AT MOCK-UPS OF AMERICAN SHIPS IN THE DESERT 84 00:11:21,047 --> 00:11:27,920 THAT LOOK A LOT LIKE THE NIMITZ. >> SINCE THE UNITED STATES HAS BEEN OPERATING IN THE WESTERN PACIFIC, CHINA'S BACKYARD, 85 00:11:27,987 --> 00:11:35,127 THEY'VE BEEN DEVELOPING MISSILES TO ATTACK OUR ASSETS, HAVEN'T THEY, SPECIFIC MISSILES? >> ABSOLUTELY, YES. 86 00:11:35,194 --> 00:11:39,432 FIRST, I'LL SAY, UNITED STATES IS ALSO A WESTERN PACIFIC NATION. >> GUAM. 87 00:11:39,498 --> 00:11:48,040 >> SO, IT'S NOT CHINA'S BACKYARD. IT'S -- YOU KNOW, IT IS A FREE AND OPEN INDO-PACIFIC THAT 88 00:11:48,107 --> 00:11:56,048 ENCOMPASSES NUMEROUS PARTNERS AND TREATY ALLIES. AND YES, WE HAVE SEEN THEM GREATLY ENHANCE THEIR POWER 89 00:11:56,115 --> 00:12:02,955 PROJECTION CAPABILITY. >> HOW MUCH DO YOU WORRY ABOUT THE PLA ROCKET FORCE? >> I WORRY. 90 00:12:03,022 --> 00:12:08,527 I WOULD BE A FOOL NOT TO WORRY ABOUT IT. OF COURSE I WORRY ABOUT THE PLA ROCKET FORCE. 91 00:12:08,594 --> 00:12:16,969 I WORK EVERY SINGLE DAY TO DEVELOP THE PROCEDURES TO COUNTER IT AND TO CONTINUE TO DEVELOP THE SYSTEMS THAT DEFEND 92 00:12:17,036 --> 00:12:23,709 AGAINST THEM. >> HOW ABOUT HOW FAR ARE WE FROM MAINLAND CHINA? >> 1,500 NAUTICAL MILES. 93 00:12:23,776 --> 00:12:28,647 >> THEY CAN HIT US. >> YES, THEY CAN. IF THEY'VE GOT THE TARGETING IN PLACE, THEY CAN HIT THIS 94 00:12:28,714 --> 00:12:34,386 AIRCRAFT CARRIER. IF I DON'T WANT TO BE HIT, THERE'S SOMETHING I CAN DO ABOUT IT. 95 00:12:34,453 --> 00:12:40,392 >> NOT JUST PLOTTING HOW TO EVADE CHINA'S ROCKET FORCE R BUT ALSO HOW THEY COULD EFFECTIVELY FIGHT BACK. 96 00:12:40,459 --> 00:12:48,033 FROM THE VICINITY OF GUAM, NONE OF THE AIRCRAFT ON THIS SHIP HAS THE RANGE TO APPROACH TAIWAN WITHOUT REFUELLING IN THE AIR. 97 00:12:48,100 --> 00:13:01,280 SHIPS, LIKE THE U.S. DESTROYER WAYNE E. MEYER, PART OF THE NIMITZ STRIKE GROUP, WOULD NEED TO SAIL CLOSER TO CHINA TO FIRE 98 00:13:01,347 --> 00:13:10,623 THEIR MISSILES AT ANY FORCE INVADING TAIWAN. LICHENING IT TO A BOXING MATCH, IN WHICH A FIGHTER, IN THIS CASE 99 00:13:10,689 --> 00:13:14,994 CHINA, HAS MUCH LONGER ARMS THAN THEIR POTENTIAL OPPONENT, THE U.S. >> I'LL GIVE YOU A LOT OF 100 00:13:15,060 --> 00:13:23,502 EXAMPLES WHERE A SHORTER FIGHTER WAS ABLE TO PREVAIL OVER A LONG-ARMED FIGHTER BY BEING ON THEIR TOES, BY MANEUVERING. 101 00:13:23,569 --> 00:13:32,578 AND WE COULD ALSO STICK AND MOVE WHILE WE'RE DEVELOPING THOSE LONGER-RANGE WEAPONS. >> THERE IS ANOTHER AREA OF 102 00:13:32,645 --> 00:13:38,484 MODERN NAVAL WARFARE, WHERE THE U.S. HAD A HEAD START AND RETAINS A DEEP ADVANTAGE OVER CHINA. 103 00:13:38,551 --> 00:13:46,091 >> I JUST NOTICED OUT OF THE CORNER OF MY EYE -- >> THIS IS A 688 CLASS, A LOS ANGELES CLASS, ATTACK SUBMARINE. 104 00:13:46,158 --> 00:13:52,598 THIS IS THE MOST CAPABLE SUBMARINE ON THE PLANET WITH THE EXCEPTION OF THE VIRGINIA CLASS, OUR NEWER CLASS OF SUBMARINES. 105 00:13:52,665 --> 00:13:59,171 >> THE EXACT NUMBER IS CLASSIFIED. BUT OUR BEST ESTIMATE IS THAT THERE ARE ABOUT A DOZEN 106 00:13:59,238 --> 00:14:05,244 NUCLEAR-POWERED, FAST ATTACK SUBMARINES PATROLLING THE PACIFIC AT ANY TIME. THEY ARE DIFFICULT TO DETECT AND 107 00:14:05,311 --> 00:14:13,285 TRACK, SOMETHING CHINA IS TRYING TO SOLVE. >> HOW MUCH MORE ADVANCED IS U.S. SUBMARINE TECHNOLOGY THAN 108 00:14:13,352 --> 00:14:19,058 CHINESE CAPABILITY? >> A GENERATION. >> A GENERATION? >> AND BY GENERATION, THINK 10 109 00:14:19,124 --> 00:14:24,797 OR 20 YEARS. BUT BROADLY, I DON'T REALLY TALK IN DEPTH ABOUT SUBMARINE CAPABILITIES. 110 00:14:24,863 --> 00:14:31,837 IT'S THE SILENT SERVICE. >> SINCE NANCY PELOSI'S VISIT TO TAIWAN, CHINA'S MILITARY LEADERS HAVE THEMSELVES BEEN MOSTLY 111 00:14:31,904 --> 00:14:45,050 SILENT AND IGNORED EFFORTS I BE THE U.S. MILITARY TO KEEP THE LINES OF COMMUNICATION OPEN, EVEN WHEN A CHINESE SPY BOALLOO 112 00:14:45,117 --> 00:14:53,058 REACHED AMERICAN AIRSPACE AND WAS SHOT DOWN BY THE U.S. >> IF THE U.S. MILITARY CAN'T COMMUNICATE OVER A CHINESE SPY 113 00:14:53,125 --> 00:14:59,231 BALLOON, WHAT'S GOING TO HAPPEN WHEN THERE'S A REAL CRISIS IN THE SOUTH CHINA SEA OR TAIWAN? >> WE'LL HOPE THAT THEY'LL 114 00:14:59,298 --> 00:15:06,472 ANSWER THE PHONE. ELSE, WE'LL DO OUR VERY BEST ASSESSMENT BASED ON THE THINGS THAT THEY SAY IN OPEN SOURCE AND 115 00:15:06,538 --> 00:15:14,146 BASED ON THEIR BEHAVIOR TO DIVINE THEIR INTENTIONS. AND WE WILL ACT ACCORDINGLY. >> DOESN'T THAT MAKE THE 116 00:15:14,213 --> 00:15:20,786 SITUATION EVEN MORE DANGEROUS IF U.S. AND CHINESE MILITARIES ARE NOT TALKING? >> YES. 117 00:15:20,853 --> 00:15:29,395 >> SEVERAL SOURCES WITHIN THE PENTAGON TELL "60 MINUTES" THAT IF CHINA INVADED TAIWAN, IT COULD VERY WELL KICK OFF IN 118 00:15:29,461 --> 00:15:36,135 OUTER SPACE, WITH BOTH SIDES TARGETING THE OTHER'S SATELLITES THAT ENABLE PRECISION-GUIDED WEAPONRY. 119 00:15:36,201 --> 00:15:45,277 CYBER ATTACKS ON AMERICAN CITIES AND THE SABOTAGE OF PORTS ON THE WEST COAST OF THE U.S. MAINLAND COULD FOLLOW. 120 00:15:45,344 --> 00:15:50,949 ONE RECENT NON-CLASSIFIED WAR GAME HAD THE U.S. PREVAILING BUT LOSING 20 SHIPS, INCLUDING TWO CARRIERS. 121 00:15:51,016 --> 00:16:00,025 DOES THAT SOUND ABOUT RIGHT? >> THAT IS A PLAUSIBLE OUTCOME. I CAN IMAGINE A MORE PESSIMISTIC OUTCOME, AND I CAN IMAGINE A 122 00:16:00,092 --> 00:16:06,932 MORE OPTIMISTIC OUTCOME. WE SHOULD BE CLEAR-EYED ABOUT THE COSTS THAT WE'RE POTENTIALLY INCURRING. 123 00:16:06,999 --> 00:16:14,440 >> THERE ARE ABOUT 5,000 AMERICANS ON BOARD THE NIMITZ. THE SHIP IS NEARLY HALF A CENTURY OLD. 124 00:16:14,506 --> 00:16:25,584 GIVEN THE NAVY'S CURRENT NEEDS IN THE PACIFIC AND BECAUSE THERE'S FUEL LEFT IN ITS NUCLEAR REACTORS, THE CARRIER'S LIFE AT 125 00:16:25,651 --> 00:16:32,224 SEA IS GOING TO BE EXTENDED. >> IS IT YOUR HOPE THAT THE POWER OF THE U.S. NAVY, THE FORCED POSTURE OF THE U.S. NAVY, 126 00:16:32,291 --> 00:16:37,496 WILL DETER A CHINESE INVASION OF TAIWAN? >> IT'S NOT MY HOPE. IT'S MY DUTY. 127 00:16:37,563 --> 00:16:46,972 IN CONJUNCTION WITH ALLIES AND PARTNERS TO DELIVER INTOLERABLE COST TO ANYBODY THAT WOULD UPEND THE ORDER IN VIOLATION OF THE 128 00:16:47,039 --> 00:16:53,278 NATION'S SECURITY OR IN VIOLATION OF THE NATION'S INTERESTS. THERE'S A SAYING WHICH IS -- IF 129 00:16:53,345 --> 00:17:02,421 YOU WANT PEACE, PREPARE FOR WAR. >> AS CHINA'S PRESIDENT XI PREPARES FOR A STATE VISIT IN RUSSIA TOMORROW TO STRENGTHEN 130 00:17:02,488 --> 00:17:18,203 THAT ALLIANCE, WE LOOK AT CRITICAL QUESTIONS ABOUT THE STATE OF THE U.S. NAVY AND ITS READINESS WHEN WE COME BACK. 131 00:17:18,270 --> 00:17:24,676 >>> "60 MINUTES" HAS SPENT MONTHS TALKING TO CURRENT AND FORMER NAVAL OFFICERS, MILITARY STRATEGISTS, AND POLITICIANS 132 00:17:24,743 --> 00:17:29,948 ABOUT THE STATE OF THE U.S. NAVY. ONE COMMON THREAD IN OUR REPORTING IN UNEASE, BOTH ABOUT 133 00:17:30,015 --> 00:17:38,857 THE SIZE OF THE U.S. FLEET AND ITS READINESS TO FIGHT. THE NAVY SHIPS ARE BEING RETIRED THAN THEY'RE GETTING REPLACED, 134 00:17:38,924 --> 00:17:46,098 WHILE THE NAVY OF THE PEOPLE'S REPUBLIC OF CHINA, OR PRC, GROWS LARGER AND MORE LETHAL BY THE YEAR. 135 00:17:46,165 --> 00:17:55,607 WE ASKED THE COMMANDER OF THE U.S. PACIFIC FLEET, ADMIRAL SAMUEL PAPARO ABOUT THIS ON OUR VISIT TO THE USS NIMITZ, THE 136 00:17:55,674 --> 00:18:00,946 OLDEST AIRCRAFT CARRIER IN THE NAVY. >> WE CALL IT THE DECADE OF CONCERN. 137 00:18:01,013 --> 00:18:10,422 WE'VE SEEN A 10-FOLD INCREASE IN THE SIZE OF THE PRC NAVY. >> TECHNICALLY SPEAKING, THE CHINESE NOW HAVE THE LARGEST 138 00:18:10,489 --> 00:18:17,262 NAVY IN THE WORLD IN TERMS OF NUMBER OF SHIPS, CORRECT? >> YES. >> DO THE NUMBERS MATTER? 139 00:18:17,329 --> 00:18:22,234 >> YES. AS THE SAYING GOES, QUANTITY HAS A QUALITY ALL ITS OWN. >> AT SOME POINT, ARE THEY GOING 140 00:18:22,301 --> 00:18:27,406 TO REACH NUMBERS THAT WE CAN'T PREVAIL OVER? >> I'M NOT COMFORTABLE WITH THE TRAJECTORY. 141 00:18:27,473 --> 00:18:32,177 >> IF YOU LOOK AT A MAP OF THE INDO-PACIFIC, ONE THING BECOMES CLEAR. THERE'S A LOT OF WATER ON THAT 142 00:18:32,244 --> 00:18:45,090 MAP. SO, OURS HAS TO BE A MARITIME STRATEGY. >> REPUBLICAN MIKE GALLAGHER AND 143 00:18:45,157 --> 00:18:53,432 DEMOCRAT, ELAINE LAURIA, SERVED TOGETHER IN THE CONGRESS. >> WHAT IS IT ABOUT THE U.S. NAVY THAT ALLOWED YOU TWO TO 144 00:18:53,499 --> 00:18:58,136 FIND CAUSE. >> WE SEE INCREASING THREATS FROM CHINA IN PARTICULAR IN THE INDO-PACIFIC. 145 00:18:58,203 --> 00:19:04,042 WE FEEL LIKE WE ARE NOT MOVING FAST ENOUGH TO BUILD A BIGGER NAVY. >> CONGRESSMAN GALLAGHER IS A 146 00:19:04,109 --> 00:19:10,315 MARINE VETERAN WHO REPRESENTS GREEN BAY, WISCONSIN, WHO CHAIRS THE NEW HOUSE COMMITTEE ON CHINA. 147 00:19:10,382 --> 00:19:20,459 HE'S CONCERNED THAT UNDER THE NAVY'S CURRENT PLAN, THE FLEET WILL SHRINK TO 280 SHIPS BY 2027, THE SAME YEAR THE CIA SAYS 148 00:19:20,526 --> 00:19:26,231 THE CHINA HAS SET FOR HAVING THE CAPABILITY TO TAKE TAIWAN BY FORCE. >> SO, WE WILL BE WEAKEST WHEN 149 00:19:26,298 --> 00:19:33,572 OUR ENEMY IS POTENTIALLY STRONGEST. >> CHINA'S RHETORIC AND AGGRESSION AGAINST TAIWAN, WE 150 00:19:33,639 --> 00:19:46,552 WANT TO BE ABLE TO RESPOND TODAY WITH THE FORCES WE HAVE TODAY. >> ELAINE LURIA HAD A 20 YEAR NAVAL CAREER BEFORE BEING 151 00:19:46,618 --> 00:19:52,824 ELECTED TO CONGRESS. >> WHAT WOULD YOU SAY THE STATE OF THE U.S. NAVY IS TODAY. >> I THINK THE NAVY HAS NOT 152 00:19:52,891 --> 00:19:57,963 RECEIVED THE ATTENTION AND RESOURCES IT NEEDS OVER TWO DECADES. EVERY SINGLE ONE OF THOSE SHIPS 153 00:19:58,030 --> 00:20:05,437 WAS BUILT DURING OR A PRODUCT OF THE FLEET THAT WAS BUILT IN THE COLD WAR. >> BOTH MIKE GALLAGHER AND 154 00:20:05,504 --> 00:20:10,642 ELAINE LURIA HAVE LOBBIED FOR GOVERNMENT MONEY FOR THE SHIPYARDS IN OR NEAR THEIR DISTRICTS. 155 00:20:10,709 --> 00:20:16,481 BUT THEY SAY THIS IS LESS ABOUT JOBS AND MORE ABOUT NATIONAL SECURITY. >> WE DON'T GET THIS RIGHT, ALL 156 00:20:16,548 --> 00:20:22,020 THESE OTHER THINGS WE'RE DOING IN CONGRESS ULTIMATELY MIGHT NOT MATTER. >> YOU THINK ABOUT WHAT A 157 00:20:22,087 --> 00:20:31,229 COHERENT STRATEGY WOULD BE, FIRE POWER WOULD BE THE MOST IMPORTANT PART OF THAT. AND THE NAVY WOULD BE THE MOST 158 00:20:31,296 --> 00:20:36,668 IMPORTANT COMPONENT OF YOUR HARD POWER INVESTMENT. >> THE NAVY SPENT $55 BILLION ON TWO INVESTMENTS THAT DID NOT PAN 159 00:20:36,735 --> 00:20:42,507 OUT. THE FIRST WAS A CLASS OF DESTROYERS KNOWN AS THE ZOOM VAULT. 160 00:20:42,574 --> 00:20:50,682 THE FUTURISTIC FIGHTING SHIPS WERE SUPPOSED TO REVOLUTIONIZE NAVAL WARFARE. 32 WERE ORDERED BUT ONLY THREE 161 00:20:50,749 --> 00:20:59,558 WERE EVER LAUNCHED. THE COST OF EACH SHIP, BY ONE ESTIMATE, WAS UPWARDS OF $8 BILLION, MAKING THEM THE 162 00:20:59,625 --> 00:21:10,369 THREE MOST EXPENSIVE DESTROYERS EVER PUT TO SEA. ANOTHER EXAMPLE IS THE LCS, DESIGNED TO BE A FAST, 163 00:21:10,435 --> 00:21:19,011 ALL-PURPOSE WARSHIP FOR SHALLOW WATERS. $30 BILLION LATER, THE PROGRAM RAN AGROUND, AFTER STRUCTURAL 164 00:21:19,077 --> 00:21:26,818 DEFECTS AND ENGINE TROUBLE. WITHIN THE NAVY, THE LCS EARNED THE UNFORTUNATE NICK NAME "LITTLE CRACKY SHIP." 165 00:21:26,885 --> 00:21:33,191 THE NAVY'S LAST FEW DECADES HAVE BEEN DESCRIBED AS A LOST GENERATION OF SHIPBUILDING. IS THAT OVERLY DRAMATIC? 166 00:21:33,258 --> 00:21:38,363 >> I DON'T THINK SO. WE'RE STILL STRUGGLING TO BUILD SHIPS ON TIME, ON BUDGET. AND THAT'S SOMETHING WE 167 00:21:38,430 --> 00:21:44,803 ABSOLUTELY NEED TO FIX GOING FORWARD. >> THIS PAST WEEK, WE SPOKE WITH ADMIRAL MIKE -- AT THE PENTAGON. 168 00:21:44,870 --> 00:21:51,943 HE IS THE CHIEF OF NAVAL OPERATIONS AND IS RESPONSIBLE FOR BUILDING, MAINTAINING, AND EQUIPPING THE ENTIRE U.S. NAVY. 169 00:21:52,010 --> 00:21:58,884 >> IS THE NAVY IN CRISIS? >> NO. THE NAVY IS NOT IN CRISIS. THE NAVY IS OUT ON POINT EVERY 170 00:21:58,950 --> 00:22:04,222 SINGLE DAY. >> IS IT BEING OUTPACED BY CHINA? >> NO. 171 00:22:04,289 --> 00:22:09,761 OUR NAVY IS STILL IN A POSITION TO PREVAIL. BUT THAT'S NOT BLIND CONFIDENCE. WE ARE CONCERNED WITH THE 172 00:22:09,828 --> 00:22:15,967 TRAJECTORY THAT CHINA IS ON, WITH CHINA'S BEHAVIOR. BUT WE ARE IN A GOOD POSITION RIGHT NOW. 173 00:22:16,034 --> 00:22:24,309 IF WE DID EVER GET INTO A FIGHT AGAINST THEM. >> HOW WOULD YOU DESCRIBE WHAT CHINA HAS BEEN ABLE TO DO 174 00:22:24,376 --> 00:22:29,014 MILITARILY OVER THE LAST 20 YEARS. >> THE MOST ALARMING THING IS THE GROWTH OF NOT ONLY THEIR 175 00:22:29,081 --> 00:22:37,055 STRATEGIC FORCES BUT THEIR STRATEGIC NEW CLEAR FORCES, THEIR CYBER CAPABILITY, SPACE CAPABILITY, AND HOW THEY ARE 176 00:22:37,122 --> 00:22:43,695 USING THAT TO FORCE OTHER NATIONS' NAVIES OUT OF CERTAIN AREAS IN THE SOUTH CHINA SEA, INSTEAD OF RECOGNIZING 177 00:22:43,762 --> 00:22:49,801 INTERNATIONAL LAW. THEY WANT TO CONTROL WHERE THOSE GOODS FLOW AND HOW. >> WHAT LESSONS DID THE U.S. 178 00:22:49,868 --> 00:22:54,439 NAVY LEARN FROM SOME OF THE SHIPBUILDING MISTAKES OF THE LAST 20 YEARS? >> I THINK ONE OF THE THINGS 179 00:22:54,506 --> 00:23:04,449 THAT WE LEARNED WAS THAT WE NEED TO HAVE A DESIGN WELL IN PLACE BEFORE WE BEGIN BENDING METAL. SO, WE'RE GOING BACK TO THE 180 00:23:04,516 --> 00:23:10,789 PAST, TO WHAT WE DID IN THE '80s AND THE '90s. THE NAVY HAS THE LEAD. >> THERE IS A TENDENCY AMONG THE 181 00:23:10,856 --> 00:23:18,930 GREAT POWERS TO LOOK AT EACH OTHER'S NAVAL BUILDUPS WITH DEEP SUSPICIOUS. >> TOE SHI YOSH HA RAH OF THE 182 00:23:18,997 --> 00:23:27,139 CENTER FOR STRATEGIC AND BUDGETARY ASSESSMENTS MAY KNOW MORE THAN ANY SCHOLAR IN THE WEST ABOUT CHINA'S NAVY. 183 00:23:27,205 --> 00:23:34,479 >> CHINA WILL HAVE ABOUT 430 SHIPS BY 2030, AND THAT'S ACCORDING TO THE PENTAGON. >> WHY IS CHINA ABLE TO BUILD 184 00:23:34,546 --> 00:23:41,153 MORE WARSHIPS MORE QUICKLY THAN THE U.S.? >> CHINA HAS CLEARLY INVESTED IN THIS DEFENSE INDUSTRIAL 185 00:23:41,219 --> 00:23:47,125 INFRASTRUCTURE TO PRODUCE THESE SHIPS, WHICH ALLOWS THEM TO PRODUCE MULTIPLE SHIPS SIMULTANEOUSLY, ESSENTIALLY 186 00:23:47,192 --> 00:23:55,500 OUTBUILDING MANY OF THE WESTERN NAVIES COMBINED. >> CHINA'S NAVY PIGGYBACKS ON A BOOMING COMMERCIAL SHIPBUILDING 187 00:23:55,567 --> 00:24:03,008 INDUSTRY, KEPT AFLOAT BY GENEROUS STATE SUBSIDIES, INEXPENSIVE MATERIALS, AND CHEAP LABOR. 188 00:24:03,074 --> 00:24:08,647 IN THE UNITED STATES, IT'S A DIFFERENT STORY. AFTER THE COLD WAR ENDED, THE SHIPBUILDING INDUSTRY 189 00:24:08,713 --> 00:24:14,352 CONSOLIDATED, AND MANY OF THE YARDS WHERE SHIPS WERE BOTH BUILT AND MAINTAINED CLOSED DOWN. 190 00:24:14,419 --> 00:24:20,158 >> WHAT DO YOU SEE WHEN YOU SEE CHINA'S SHIPBUILDING PROGRAM? >> IT'S VERY ROBUST. >> DO WE HAVE ENOUGH SHIPYARDS? 191 00:24:20,225 --> 00:24:26,565 >> NO. I WISH WE HAD MORE COMMERCIAL SHIPYARDS. WE'VE GONE FROM OVER 30 192 00:24:26,631 --> 00:24:37,843 SHIPYARDS DOWN TO ABOUT SEVEN WE RELY ON TO BUILD SHIPS. >> ONE OF THOSE YARDS IS RUN BY HUNTINGTON INGLES INDUSTRIES, 193 00:24:37,909 --> 00:24:48,320 WHICH BUILT THE -- AIRCRAFT CARRIER. AFTER CONTROLLED EXPLOSIONS IN 2021 TO PROVE IT COULD WITHSTAND 194 00:24:48,386 --> 00:25:01,032 COMBAT, THE FOUR GOT CLOSER TO DEPLOYMENT SIX YEARS LATE AND BILLIONS OF DOLLARS OVER BUDGET. THE NAY IVY IS NOT JUST STRUGGL 195 00:25:01,099 --> 00:25:07,205 TO BUILD NEW SHIPS ON TIME. THERE'S A MULTIYEAR BACKLOG REPAIRING THE SHIPS IN THE FLEET. 196 00:25:07,272 --> 00:25:14,980 >> OUR MAINTENANCE BACKLOG IS ONE OF THE PRIMARY THINGS THAT I'M WORKING ON TO CORRECT. SO, JUST THREE YEARS AGO, WE HAD 197 00:25:15,046 --> 00:25:22,053 7,700 DELAY DAYS. THAT IS EXTRA DAYS THE IN A SHIPYARD BY SHIPS WHEN THEY WEREN'T OPERATIONAL. 198 00:25:22,120 --> 00:25:29,294 WE HAVE CUT THAT DOWN TO 3,000. WE ARE NOT SATISFIED. >> MAINTENANCE DELAYS MEAN SAILORS CAN'T COME HOME BECAUSE 199 00:25:29,361 --> 00:25:35,867 THE SHIP THAT'S SUPPOSED TO REPLACE THEM IS NOT READY. IT MEANS LONGER DEPLOYMENT. IT MEANS AWAY FROM YOUR FAMILY 200 00:25:35,934 --> 00:25:41,072 MORE. THAT'S A BIG STRAIN ON THE WORK FORCE. >> THE MORE SHIPS THAT WE CAN 201 00:25:41,139 --> 00:25:47,579 HAVE AVAILABLE TO SEND AT SEA ALLEVIATES MANY OF THOSE PROBLEMS THAT YOU POINTED OUT. SAILORS JOIN THE NAVY TO SEE THE 202 00:25:47,646 --> 00:25:55,020 WORLD. SO, IT'S MY JOB TO MAKE SURE THAT THOSE MAINTENANCE DELAYS GO TO ZERO AND WE CAN GET THOSE 203 00:25:55,086 --> 00:26:01,259 SHIPS TO SEA AS QUICKLY AS POSSIBLE. >> IN THE LAST YEAR ALONE, AT LEAST TEN SAILORS ASSIGNED TO 204 00:26:01,326 --> 00:26:08,233 SHIPS UNDERGOING MAINTENANCE OR WORKING AT MAINTENANCE FACILITIES HAVE DIED BY SUICIDE. >> IT IS A PROBLEM THAT WE'RE 205 00:26:08,300 --> 00:26:16,241 TAKING VERY, VERY SERIOUSLY. AND DOWN TO EVERY LEADER IN OUR NAVY, EVERYBODY HAS A RESPONSIBILITY TO LOOK OUT FOR 206 00:26:16,308 --> 00:26:21,479 EACH OTHER, TAKE CARE OF EACH OTHER. THERE IS NO WRONG DOOR TO KNOCK ON WHEN YOU NEED HELP. 207 00:26:21,546 --> 00:26:29,387 >> THE ADMIRAL SAYS THE U.S. NAVY'S MAIN ADVANTAGE OVER CHINA IS AMERICA'S SAILORS. HIS GOAL IS TO MODERNIZE THE 208 00:26:29,454 --> 00:26:37,529 U.S. FLEET AND HAVE THOSE SAILORS SERVING ALONGSIDE HUNDREDS OF UNMANNED VESSELS BY 2025. 209 00:26:37,595 --> 00:26:42,200 >> I THINK UNMANNED IS THE FUTURE. I THINK THAT SOME 40% OF OUR FLEET IN THE FUTURE, I BELIEVE, 210 00:26:42,267 --> 00:26:47,806 IS GOING TO BE UNMANNED. >> ARE THESE, LIKE, UNDERWATER DRONES? >> SOME OF THEM ARE. 211 00:26:47,872 --> 00:26:55,113 HIGHLY CAPABLE. CAPABLE OF DELIVERING MINES AND PERHAPS OTHER TYPES OF WEAPONS. >> HE IS TALKING ABOUT THE ORCA, 212 00:26:55,180 --> 00:27:01,720 AN EXTRA LARGE, UNMANNED, UNDERSEA VEHICLE. >> CAN YOU SAY WHAT IT WILL DO, OR IS THAT CLASSIFIED? 213 00:27:01,786 --> 00:27:10,895 >> AT A MINIMUM, IT WILL HAVE A CLANDESTINE MINE LAYING CAPABILITY. IT WILL BE DONE IN A WAY THAT'S 214 00:27:10,962 --> 00:27:16,101 VERY SECRETIVE BUT VERY EFFECTIVE. >> IT'S ALREADY A QUARTER BILLION DOLLARS OVER BUDGET AND 215 00:27:16,167 --> 00:27:22,907 THREE YEARS BEHIND SCHEDULE. >> THAT PARTICULAR PLATFORM IS BEHIND SCHEDULE. IT'S THE FIRST OF A KIND. 216 00:27:22,974 --> 00:27:28,413 WHEN IT DELIVERS I SEE A VERY HIGH RETURN ON INVESTMENT FROM THAT PARTICULAR PLATFORM. >> BECAUSE? 217 00:27:28,480 --> 00:27:36,354 >> BECAUSE IT WILL BE AMONG THE MOST LETHAL AND STEALTHY PLATFORMS IN THE ARSENAL OF THE U.S. MILITARY. 218 00:27:36,421 --> 00:27:47,899 >> THE NAVY'S TOTAL BUDGET REQUEST FOR FISCAL YEAR 2024 IS OVER A QUARTER OF A TRILLION DOLLARS, AN $11 BILLION INCREASE 219 00:27:47,966 --> 00:27:56,508 FROM LAST YEAR. THE FOCUS IS ON CHINA. >> THE U.S. DEFENSE POSTURE IS VIEWED AS AGGRESSIVE BY THE 220 00:27:56,574 --> 00:28:01,913 CHINESE. THE FOREIGN MINISTER JUST SAID, LOOK, STOP THE CONTAINMENT. THIS MAY LEAD TO CONFLICT. 221 00:28:01,980 --> 00:28:08,853 >> PERHAPS THE CHINESE MINISTER DOESN'T LIKE THE FACT THAT THE U.S. NAVY IS OPERATING IN COLLABORATION WITH DOZENS OF 222 00:28:08,920 --> 00:28:16,995 NAVIES AROUND THE WORLD TO ENSURE THAT THE MARITIME COMMONS REMAINS FREE AND OPEN FOR ALL NATIONS. 223 00:28:17,062 --> 00:28:23,535 THE CHINESE WANT TO DICTATE SO, THEY DON'T LIKE OUR PRESENCE. BUT OUR PRESENCE IS NOT INTENDED 224 00:28:23,601 --> 00:28:30,542 TO BE PROVOCATIVE. IT'S INTENDED TO ASSURE, TO REASSURE, ALLIES AND PARTNERS AROUND THE WORLD THAT THOSE SEA 225 00:28:30,608 --> 00:28:35,213 LANES DO REMAIN OPEN. THE GLOBAL ECONOMY LITERALLY FLOATS ON SEAWATER. 226 00:28:39,117 --> 00:28:57,435 >>> HOW SIMILAR IS THE MOVIE TO ACTUAL TOP GUN? >> TOP GUN GRADUATES COMPARE THE . 227 00:28:57,502 --> 00:29:03,108 >>> TONIGHT, WE'RE GOING TO TELL YOU ONE OF THOSE ONLY IN AMERICA STORIES. BUT THIS ONE BEGINS AND ENDS ON 228 00:29:03,174 --> 00:29:10,882 THE OTHER SIDE OF THE ATLANTIC. ROCCO KMIS SEW WAS 12 YEARS OLD WHEN HIS FAMILY MOVES TO THE UNITED STATES FROM SOUTHERN 229 00:29:10,949 --> 00:29:18,189 ITALY. WITH THE HUSTLE HE LEARNED ON THE STREETS OF THE BRONX AND EXCEPTIONAL TIMING, COMMISSO 230 00:29:18,256 --> 00:29:25,897 BUILT A TV EMPIRE AND A NET WORTH OF $8 BILLION. SO, WHAT DID HE DO WITH HIS MADE IN THE USA FORTUNE? 231 00:29:25,964 --> 00:29:34,739 ROCCO COMMISSO RETURNED TO THE LAND OF HIS BIRTH AND BOUGHT A PRO SOCCER TEAM. >> YOU DESCRIBED YOURSELF AS A 232 00:29:34,806 --> 00:29:39,410 HUSTLER. WHAT DOES THAT MEAN. >> WELL, ALWAYS IN A GOOD SENSE OF A HUSTLER. 233 00:29:39,477 --> 00:29:48,353 A HUSTLER IS NEVER, YOU KNOW -- HE TRIES TO FIND A WAY TO ACHIEVE A CERTAIN OBJECTIVE. HUSTLE, HUSTLE. 234 00:29:48,419 --> 00:29:54,259 DON'T GIVE UP. DON'T TAKE NO FOR AN ANSWER. >> I'VE HEARD THAT YOU HAVE NO TOLERANCE FOR PEOPLE YOU CALL 235 00:29:54,325 --> 00:29:59,597 SPINNERS. >> RIGHT. >> WHAT'S A SPINNER? >> A SPINNER IS A [ BLEEP ] 236 00:29:59,664 --> 00:30:04,402 ARTIST. I KNOW PLENTY OF THOSE GUYS. I HAVE A PRETTY GOOD IDEA WHAT I'M DEALING WITH. 237 00:30:04,469 --> 00:30:11,442 >> DID YOU LEARN THAT IN THE BRONX? >> NO, MY MOTHER GAVE IT TO ME WHEN I WAS BORN. 238 00:30:11,509 --> 00:30:23,521 >> ROCCO COMMISSO DOESN'T SUFFER FOOLS. BUT LIKE MOST ITALIAN SOCCER FANS, HE'S DOES SUFFER. 239 00:30:23,588 --> 00:30:43,107 THREE YEARS AGO, HE BOUGHT THE TEAM IN FLORENCE, WHERE GAME DAY IS FILLED WITH MORE AGONY AND ECSTASY THAN A -- OPERA. 240 00:30:43,174 --> 00:30:55,887 WE WATCHED, AS THE CITY'S DIE HARD FANS ENDURED A COLLECTIVE 90-MINUTE LONG BREAKDOWN. >> I DON'T SPEAK ITALIAN, BUT I 241 00:30:55,954 --> 00:31:05,363 THINK I KNOW WHAT THEY'RE SAYING. >> COMMISSO, WHO IS 73, KNOWS THEY FOLLOW HIS REACTIONS, SO HE 242 00:31:05,430 --> 00:31:13,204 TRIES TO KEEP A POKER FACE, AS HE CHEWS NICOTINE GUM. >> HOW MANY OF THESE DO YOU GO THROUGH A GAME? 243 00:31:13,271 --> 00:31:22,513 >> 15, 20. >> 15, 20. DEPENDS ON THE GAME, RIGHT? >> WHEN COMMISSO BOUGHT 244 00:31:22,580 --> 00:31:30,588 FIORENTINA, IT TICKED TWO BOXES. FIRST THE $170 MILLION PRICE WAS A BARGAIN FOR A EUROPEAN CLUB. SECOND, IT MET THE DEMAND BY HIS 245 00:31:30,655 --> 00:31:38,863 WIFE THAT IF HE INSISTED ON BUYING A TEAM, IT HAD TO BE SOME PLACE NICE. >> WHEN I LANDED IN FLORENCE, 246 00:31:38,930 --> 00:31:45,803 OUTSIDE THE AIRPORT, THERE WERE A MASS OF PEOPLE THERE. AND THE FIRST WORDS THAT I USED -- 247 00:31:45,870 --> 00:31:50,341 [ SPEAKING NON-ENGLISH ] -- WELCOME. OVER HERE, TITLES ARE VERY IMPORTANT. 248 00:31:50,408 --> 00:31:57,915 I DON'T NEED TITLES. YOU DON'T HAVE TO CALL ME MR. JUST CALL ME ROCCO. AND TODAY THEY CALL ME ROCCO. 249 00:31:57,982 --> 00:32:08,126 >> FIORENTINA, WHICH IS NICK NAMED THE PURPLE, HAS NOT WON A LEAGUE CHAMPIONSHIP SINCE 1969. THE FANS GOT SICK OF WAITING AND 250 00:32:08,192 --> 00:32:17,869 RAN THE PREVIOUS OWNER OUT OF TOWN. >> THE FANS, FIRST THEY'RE EVER. BUT THEY COULD BE NASTY IF YOU 251 00:32:17,935 --> 00:32:23,941 DON'T WIN. >> THE HIGHS ARE HIGH AND THE LOWS ARE LOW, IT SEEMS. >> RIGHT. 252 00:32:24,008 --> 00:32:29,247 THEY THINK THEY'RE GOING TO CRITICIZE AND KICK ME OUT, NO, THAT CAN'T HAPPEN. ROCCO IS A LITTLE DIFFERENT. 253 00:32:29,314 --> 00:32:36,654 >> HOW ARE YOU DIFFERENT? >> FIRST OF ALL, THERE'S NOT BEEN ANYONE HERE THAT'S PUT IN THE MONEY I PUT IN A SHORT 254 00:32:36,721 --> 00:32:43,961 PERIOD OF TIME. I GO BACK TO -- FROM 500 YEARS AGO. IF I LOSE $500 MILLION OR 255 00:32:44,028 --> 00:32:51,035 $400 MILLION, I'M NOT GOING TO GO WASH DISHES THE WAY I DID WHEN I WAS A YOUNG MAN. YOU DON'T KNOW WHAT'S GOING TO 256 00:32:51,102 --> 00:32:57,442 COME NEXT. >> ROCCO COMMISSO'S JOURNEY TO THE OWNER'S BOX IN FLORENCE BEGAN HERE BY THE SUBWAY IN THE 257 00:32:57,508 --> 00:33:04,649 BRONX. HIS FATHER, A CARPENTER, AND HIS OLDER BROTHER CAME TO THE U.S. IN THE '50s TO ESCAPE POVERTY. 258 00:33:04,716 --> 00:33:13,491 A FEW YEARS LATER, THEY SENT FOR ROCCO, HIS MOTHER, AND TWO SISTERS. >> WHEN WE CAME IN '63, MY 259 00:33:13,558 --> 00:33:17,562 BROTHER BUILT A HOUSE. GOD BLESS HIM. AND THIS WAS, LIKE, A LUXURY TO US. 260 00:33:17,628 --> 00:33:25,670 AND WE LIVED UPSTAIRS ON THE SECOND FLOOR. >> COMMISSO'S ENGLISH WAS TERRIBLE, BUT HE PLAYED A MEAN 261 00:33:25,737 --> 00:33:32,910 ACCORDION. SO, AT AGE 13, HE CUT HIS FIRST DEAL. ROCCO AGREED TO PERFORM FOR FREE 262 00:33:32,977 --> 00:33:39,550 AT A BRONX THEATER IF THE MANAGER AGREED TO GET HIM IN THE CATHOLIC ALL BOY'S HIGH SCHOOL, NOW ST. MICHAEL ACADEMY. 263 00:33:39,617 --> 00:33:45,423 IT IS STILL A LAUNCHING PAD FOR YOUNG MEN FROM IMMIGRANT FAMILIES. >> EVEN THOUGH I HAD NOT TAKEN 264 00:33:45,490 --> 00:33:52,697 THE TEST TO GET IN, I ASKED THE MANAGER TO PLEASE SEND A RECOMMENDATION LETTER AND THEY DID AND THEY ADMITTED ME. 265 00:33:52,764 --> 00:33:58,870 >> DID YOU HAVE TO PLAY THE ACCORDION? >> THEY DID NOT LET ME PLAY THE ACCORDION. 266 00:33:58,936 --> 00:34:07,478 >> JUST ON YOUR ACCORDION SKILLS ALONE, YOU GOT ENTRANCE? >> I GOT LUCKY, OR HUSTLED, WHATEVER YOU WANT TO CALL IT. 267 00:34:07,545 --> 00:34:17,989 >> HE KEPT HUSTLING. EVERY DAY BEFORE AND AFTER SCHOOL, HE WORKED AT HIS FAMILY'S LUNCHEONETTE. 268 00:34:18,055 --> 00:34:28,132 >> I USED TO GET PAID $1 AN HOUR, AND I PAID FOR MY NOW, IT DIDN'T COST A LOT OF MONEY THEN, BUT IT WAS STILL 269 00:34:28,199 --> 00:34:33,004 SOMETHING. >> COMMISSO WANTED TO BE AN ENGINEER. BUT $1 AN HOUR WASN'T GOING TO 270 00:34:33,070 --> 00:34:40,178 PAY FOR COLLEGE. SO, COMMISSO HUNTED DOWN A SCHOLARSHIP FOR A SPORT HE ALWAYS LOVED, SOCCER. 271 00:34:40,244 --> 00:34:45,583 NEVER MIND THAT HIS HIGH SCHOOL DIDN'T HAVE A TEAM AND HE'D NOT PLAYED MUCH SINCE COMING TO AMERICA. 272 00:34:45,650 --> 00:34:53,057 >> AND SOMEHOW, YOU END UP WITH A SOCCER SCHOLARSHIP TO COLUMBIA. HOW DOES THAT HAPPEN? 273 00:34:53,124 --> 00:35:02,200 >> HUSTLE. I NEEDED MONEY TO GO TO SCHOOL, SO I ASKED THE GYM TO TEACHER TO CALL THE NYU COACH. 274 00:35:02,266 --> 00:35:12,577 HE PUTS ME IN THE LEAGUE, SEES ME PLAY SIX GAMES, SAYS, YEAH, I LIKE THE KID. THEY GAVE ME 50% SCHOLAR PSHIP. 275 00:35:12,643 --> 00:35:17,949 BUT THAT WAS NOT ENOUGH. SO, I THEN CALLED THE GYM TEACHER, CALL THE COACH AT COLUMBIA NOW. 276 00:35:18,015 --> 00:35:25,790 AND THE SPACE OF THREE TO FOUR WEEKS, THEY GAVE ME ADMISSION TO COLUMBIA AND A FULL SCHOLARSHIP. >> HAD THEY SEEN YOU PLAY? 277 00:35:25,857 --> 00:35:31,195 >> NO. I ASKED THAT QUESTION AFTER THEY ADMITTED ME. I SAID, LET ME ASK YOU, YOU GIVE 278 00:35:31,262 --> 00:35:39,570 ME ALL THIS MONEY, YOU DON'T WANT TO SEE ME PLAY? THEY SAID, WELL, IF YOU'RE GOOD ENOUGH FOR NYU, YOU'RE GOOD 279 00:35:39,637 --> 00:35:45,243 ENOUGH FOR COLUMBIA. >> HE BECAME CAPTAIN AND LED COLUMBIA TO ITS FIRST TOURNAMENT. 280 00:35:45,309 --> 00:35:51,516 AFTER GRADUATION AND AN MBA, HE MADE HIS WAY TO WALL STREET. AT NIGHT, THOUGH, HE WAS HELPING HIS BROTHER RUN A DISCO. 281 00:35:51,582 --> 00:35:58,756 RIVAL CLUBS PLAYED THE BEE GEES, BUT NOT COMMISSO. HE CHOSE TO PLAY POP MUSIC FROM ITALY. 282 00:35:58,823 --> 00:36:05,630 >> I WAS REALLY INTO ITALIAN MUSIC AND CAME UP WITH THIS IDEA THAT BY SPECIALIZING IN SOMETHING, AS OPPOSED TO BEING 283 00:36:05,696 --> 00:36:15,540 JUST LIKE ANYBODY ELSE, YOU KNOW, WE COULD DO WELL. AND NOBODY COULD TOUCH US. >> COMMISSO BECAME AN EXECUTIVE 284 00:36:15,606 --> 00:36:23,748 IN THE CABLE TV INDUSTRY, JUST AS IT EXPLODED. THEN IN 1995, HE DECIDED IT WAS TIME TO START A BUSINESS HE 285 00:36:23,814 --> 00:36:30,988 NAMED MEDIACOM. LIKE THE DISCO, HE DESIGNED A PLAN TO SEIZE AN OPPORTUNITY OTHERS HAD MISSED. 286 00:36:31,055 --> 00:36:39,430 >> IT WAS AN EIGHT-PAGE PAPER. I TALKED ABOUT WHAT I FORESEE IN TERMS OF THE CABLE BUSINESS. >> WHAT DID YOU FORESEE? 287 00:36:39,497 --> 00:36:48,205 >> AND WHAT I FORESAW WAS THE FACT THAT SOONER OR LATER, WE'RE GOING TO GET DEREGULATED AND THERE'S A GREAT OPPORTUNITY TO 288 00:36:48,272 --> 00:36:53,244 DO WELL IN THE SMALLER MARKETS OF THE U.S., RURAL MARKETS, LARGELY BECAUSE NOBODY WANTED THEM. 289 00:36:53,311 --> 00:37:02,620 >> ROCCO COMMISSO BELIEVED THOSE SMALL MARKETS HAD BURIED TREASURE, 600,000 MILES OF CABLE USED TO CARRY COMPUTER DATA 290 00:37:02,687 --> 00:37:11,329 THROUGH PLACES SUCH AS THE CORN BELT AND DEEP SOUTH. HE RISKED HIS LIFE SAVINGS TO BUY UP THE SMALL SYSTEMS. 291 00:37:11,395 --> 00:37:18,869 AGAIN, TIMING AND LUCK WERE ON HIS SIDE. TODAY, MEDIACOM PROVIDES BROADBAND IN 22 STATES, AND 292 00:37:18,936 --> 00:37:26,677 ROCCO COMMISSO'S NET WORTH IS $8 BILLION. IT'S A PRIVATE COMPANY. CATHERINE COMMISSO, ROCCO'S WIFE 293 00:37:26,744 --> 00:37:37,688 OF 47 YEARS, WORKS THERE. SO DOES HIS SISTER, ITALIA, AND HIS SON, JOE, ON THE LEFT. OUTSIDE MEDIACOM HEADQUARTERS IN 294 00:37:37,755 --> 00:37:45,363 UP STATE NEW YORK IS A BACHIE COURT. INSIDE, ESPRESSO FLOWS. HE HAD A STREAK OF 25 YEARS OF 295 00:37:45,429 --> 00:37:50,868 PROFITS AND HAD NEVER LAID OFF WORKERS. >> I HAVE HEARD SO MANY PEOPLE SAY, IT'S NOT PERSONAL. 296 00:37:50,935 --> 00:37:55,640 IT'S BUSINESS. >> THAT'S CRAP. YOU KNOW? I THINK THE PERSONAL, FRANKLY, 297 00:37:55,706 --> 00:38:06,751 HAS A LOT TO DO WITH WHY COMPANIES FAIL OR SUCCEED. UNFORTUNATELY THERE'S NO ONE LIKE ME IN OUR BUSINESS, AND I'M 298 00:38:06,817 --> 00:38:13,658 TALKING ABOUT THE MEDIA, NEWSPAPERS. BUT I HATE TO DESTROY PEOPLE'S LIVES BECAUSE I HAVE TO GO IN 299 00:38:13,724 --> 00:38:21,132 AND MAKE AN EXTRA MILLION DOLLARS. >> COMMISSO MADE A POINT TO US THAT HE DOES NOT OWN A YACHT, A 300 00:38:21,198 --> 00:38:27,672 MANSION ON THE BEACH, OR A PRIVATE JET. OF COURSE, WE DID POINT OUT HE DID BUY AN ITALIAN SOCCER TEAM. 301 00:38:27,738 --> 00:38:37,882 >> WHEN I CAME HERE, I USED THREE THINGS, FAST, FAST, FAST, THAT THE COST WILL BE OKAY, WITHIN MY MEANS, AND CONTROL, 302 00:38:37,948 --> 00:38:43,054 CONTROL, CONTROL. I CONTROL OR NO MONEY FROM ROCCO. THAT'S THE WAY IT WORKS. 303 00:38:43,120 --> 00:38:48,959 >> WHAT'S HARDER, RUNNING A COMPANY LIKE MEDIACOM OR RUNNING -- >> THIS IS SIGNIFICANTLY MORE 304 00:38:49,026 --> 00:38:59,970 DIFFICULT. I GET MORE CRITICISM HERE THAN IN 1,500 COMMUNITIES IN THE U.S. >> THE AMERICAN OWNER IS UNDER 305 00:39:00,037 --> 00:39:10,014 RELENTLESS SCRUTINY BY FANS WHO DEMAND THAT HE SHELLS OUT WHATEVER IT COSTS TO BRING IN STARS AND END THEIR 50-YEAR 306 00:39:10,081 --> 00:39:19,590 CHAMPIONSHIP DROUGHT. THEN THERE'S BEEN TIMES WHEN HE'S LOST IT WITH THE UNFORGIVING ITALIAN PRESS. 307 00:39:19,657 --> 00:39:23,327 [ SPEAKING NON-ENGLISH ] >> HAVE YOU EVER THOUGHT, WHAT HAVE I DONE? WHAT DID I GET MYSELF INTO? 308 00:39:23,394 --> 00:39:27,398 >> NO. >> IT'S A LOT OF ACCUSATIONS. >> NO. I MADE THE DECISION, I'M GOING 309 00:39:27,465 --> 00:39:35,039 TO STICK WITH IT. >> TRUE TO ROCCO'S WAY, HE'S PLAYING THE LONG GAME. BY SPENDING $100 MILLION ON 310 00:39:35,106 --> 00:39:44,115 THIS. IT'S CALLED THE OLA PARK. THE COMMISSOS SHOWED US AROUND WHAT WILL BE ONE OF THE LARGEST 311 00:39:44,181 --> 00:39:50,254 SOCCER FACILITIES IN EUROPE FOR DEVELOPING YOUNG MALE AND FEMALE PLAYERS. BUT THIS IS ITALY. 312 00:39:50,321 --> 00:39:58,062 >> YOU SEE THAT OPENING RIGHT IN THE MIDDLE? WE HAD TO BREAK THE BUILDIG APART BECAUSE IT'S A ROMAN WALL 313 00:39:58,129 --> 00:40:03,834 THERE. >> YOU HIT A ROMAN WALL? >> YEAH. WE HAD TO UNCOVER IT, COVER IT 314 00:40:03,901 --> 00:40:15,913 UP, BUT WE COULD NOT BUILD ON TOP OF THE ROMAN WALL. >> DESPITE THE ODDS OF THE SEASON, COMMISSO STILL SEEMS TO 315 00:40:15,980 --> 00:40:23,554 LOVE THIS BUSINESS. HE'S BECOME ONE OF THE MOST FAMOUS AMERICANS IN ITALY AND ADORES HIS PLAYERS, SOME WHO 316 00:40:23,621 --> 00:40:32,930 LOOK LIKE MICHELANGELO HIMSELF MAY HAVE CARVED THEM OUT OF MARBLE. >> MY JOB IS TO HUG THEM, KISS 317 00:40:32,997 --> 00:40:36,100 THEM, PUT MY ARMS AROUND THEM AND HOPE THEY DO BETTER NEXT TIME. >> NO TOUGH TALK? 318 00:40:36,167 --> 00:40:41,338 >> NO, THEY GET THE MESSAGE INDIRECTLY THAT THINGS GOT TO CHANGE HERE. >> HOW DO THEY GET THE MESSAGE? 319 00:40:41,405 --> 00:40:48,479 >> YOU KNOW, THEY GET THE MESSAGE. NEVER MIND. >> AND IF YOU'RE WONDERING IF 320 00:40:48,546 --> 00:41:00,491 COMMISSO STILL PLAYS A MEAN ACCORDION, HERE'S YOUR ANSWER. ♪ OUR BUSINESS ENDED WITH DINNER 321 00:41:00,558 --> 00:41:15,206 AND A SERENADE BY THE BILLIONAIRE FROM THE BRONX. >> DO YOU THINK IF YOU HAD STAYED IN ITALY, YOU'D HAVE BEEN 322 00:41:15,272 --> 00:41:19,810 ABLE TO ACHIEVE THE SUCCESS THAT YOU HAVE TODAY? >> NO. NO WAY. 323 00:41:19,877 --> 00:41:31,822 THIS IS TRULY THE LAND OF OPPORTUNITY. IT GAVE THIS POOR SOUL, OKAY, YEAH, THE OPPORTUNITY TO BECOME 324 00:41:31,889 --> 00:41:35,125 SOMETHING, SOMEBODY. AND THAT'S THE BEAUTY ABOUT AMERICA. >> YOU STILL BELIEVE IN THE 325 00:41:35,192 --> 00:41:40,965 AMERICAN DREAM. >> ABSOLUTELY. YEAH. IT'S THE LAST HOPE IN THE WORLD. 326 00:41:41,031 --> 00:41:47,872 MY MOM PROVIDED ME A PHENOMENAL EDUCATION -- >> ROCCO COMMISSO HAS GIVEN MILLIONS TO HIS ALMA MATERS AND 327 00:41:47,938 --> 00:41:55,846 HAS CONTRIBUTED TO SCHOLARSHIPS FOR NEARLY 3,000 STUDENTS ACROSS THE U.S., INCLUDING MANY FIRST GENERATION IMMIGRANTS LIKE HIM. 328 00:41:55,913 --> 00:42:02,119 >> I JUST WANT TO BE KNOWN AS THE GUY THAT SUCCESS NEVER CHANGED HIM. >> JUST ROCCO. 329 00:42:02,186 --> 00:42:14,331 >> JUST ROCCO.Y UNITED HEALTH CARE. GET MEDICARE WITH MORE. >> WHEN THE FDIC SEIZED SILICON 330 00:42:14,398 --> 00:42:20,738 VALLEY BANK AND NEW YORK SIGNATURE BANK OVER LAST WEEKEND, IT WAS A REMINDER OF HOW FRAGILE OUR BANKING SYSTEM 331 00:42:20,804 --> 00:42:28,178 CAN BE. 14 YEARS AGO, AT THE HEIGHT OF THE GREAT RECESSION, WE WITNESSED HOW FAR THE FEDERAL 332 00:42:28,245 --> 00:42:35,019 GOVERNMENT WILL GO TO PROTECT BAK DEPOSITORS. SCOTT PELLEY AND "60 MINUTES" FOLLOWED A FEDERAL DEPOSIT 333 00:42:35,085 --> 00:42:40,491 INSURANCE TEAM, LED BY CHERYL BASTE, AS THEY SEIZED AND REOPENED A FAILING ILLINOIS BANK OVERNIGHT. 334 00:42:40,557 --> 00:42:48,899 >> WE HAVE ACCOUNTANTS. WE HAVE ASSET SPECIALISTS WHO SPECIALIZE IN LOANS. WE HAVE PEOPLE WHO SPECIALIZE IN 335 00:42:48,966 --> 00:42:58,342 JUST THE PHYSICAL FACILITIES. AND WE HAVE A GROUP OF INVESTIGATORS THAT COME IN AND DO A REVIEW ON THE REASONS FOR 336 00:42:58,409 --> 00:43:03,380 THE BANK FAILURE. >> REALLY YOUR WHOLE TEAM COULD COME IN AND RUN THE BANK? >> YES. 337 00:43:03,447 --> 00:43:12,456 >> TO DEPOSITOR LOST A PENNY. THE FDIC SPENT THIS LAST WEEK LOOKING FOR BUYERS TO TAKE SILICON VALLEY AND SIGNATURE OFF 338 00:43:12,523 --> 00:43:13,524 ITS HANDS.