Rupert Murdoch, chairman and CEO of News Corp., told a select committee of Parliament today that he has not considered resigning over the phone-hacking scandal that has rocked his company.

He answered "No," when asked whether he would consider resigning. Asked why not, Murdoch said, "The people I trusted, I am not saying how or at what level, let me down." He added that they betrayed the company and it is for them to pay. He then added, "I think that frankly I’m the best person to clean this up."

Earlier in the proceedings there was this telling exchange between Liberal Democrat Member of Parliament Adrian Sanders and James Murdoch and Rupert Murdoch.

Sanders to James Murdoch: Are you familiar with the term ‘willful blindness’?

James Murdoch: Ah, Mr. Sanders, would you care to elaborate?

Sanders: It is a term that came up in the Enron scandal. ‘Willful blindness’ is a legal term. It states that if there is knowledge that you could have had and should have had, but chose not to have, you are still responsible.

James Murdoch: Mr. Sanders, do you have a question? Respectfully, I don’t know what you would like me to say.

Sanders: The question was, were you aware of the term.

James Murdoch: I’m not aware of that particular phrase.

Sanders: But now you are familiar because I’ve explained it to you. (turning to the chairman of the subcommittee): Thank you, Mr. Chairman.

James Murdoch: Thank you Mr. Sanders.

Rupert Murdoch then said: "I’ve heard the phrase before, and we were NOT EVER guilty of that."